3C Community Profile: Humboldt Park

Take a stroll down the Paseo Boricua corridor on Division Street and it’s easy to see why Humboldt Park is one of Chicago’s most vibrant neighborhoods.  Since the 1970s, the area has become known as the cultural, political and economic center of the Puerto Rican community – both locally and in the Midwest.  

However, gentrification and lack of affordable housing options for longstanding residents are some of the biggest issues facing Humboldt Park today. For example, residents making 60 percent of the neighborhood’s median income ($46,786) cannot afford more than half of the available housing stock. And even within the neighborhood, gentrification has hit the east side of Humboldt Park harder compared to the west side.  

Humboldt Park is one of two neighborhoods (East Garfield Park is the other one) where Connecting Capital and Community (3C) – a multi-year initiative to create Black and Latine wealth through homeownership – is piloting innovative affordable housing solutions. Working with residents, community-based organizations, and the private and public sectors, 3C is spearheading several efforts to make homeownership more accessible for families and individuals.   

“The role of 3C in Humboldt Park and West Humboldt Park is critical to helping families build generational wealth and preserve legacies and community,” said Adrienne Whitney Boykin, executive director of the West Humboldt Park Development Council, a 3C partner. 

Building a Pipeline of Prospective Homebuyers 

Supported by a 3C grant, Spanish Coalition for Housing is leading a group of housing counseling agencies working to build a pipeline of prospective homebuyers through various financial literacy and homeownership education programs. The goal is to guide 200 Black and Latine buyer-ready households through the entire homebuying process and continue supporting them post-purchase. The following organizations are serving Humboldt Park:  

• Center for Changing Lives offers financial coaching and HUD-approved housing counseling services to help residents become homebuyer-ready.  
• Latin United Community Housing Association (LUCHA) provides homeownership and housing counseling services and helps older homeowners with small home repairs. 
• Neighborhood Housing Services of Chicago (NHS) offers homeownership education and counseling programs. The organization also provides lending to help people buy, fix and keep their homes, as well as foreclosure prevention services. 
• Spanish Coalition for Housing provides a variety of programs and services that range from homebuyer education to foreclosure education to utility assistance.  

Increasing Affordable Housing Stock 

To increase the affordable housing inventory in Humboldt Park, 3C is working with an alliance of developers to build affordable, single-family and two-flat homes on publicly owned vacant parcels. Some 3C developers are also focusing on modular homes, prefabricated structures built in a climate-controlled factory environment that have demonstrated success as affordable home options without compromising quality. With 3C funding support, the following housing developments are underway in Humboldt Park:  

• NHS is leading the 3C developer alliance to create new single-family affordable homes (1-4 units) for existing residents of both 3C-focus neighborhoods. 
• In the West Humboldt Park area, Inherent L3C is developing 21 units of clustered, in-fill housing anchored around Laura S. Ward Elementary, a Chicago Public School. 
• KMW Communities is building seven two-flats that are affordable to residents up to 120 percent of the area median income in West Humboldt Park.  
• MKB Business Strategies is developing eight affordable single-family homes for existing residents at 80 to 120 percent of area median income in both 3C-focus neighborhoods.  

Creating Affordable Lending Products 

Affordable and accessible mortgage products increase the purchasing power of low and moderate-income families. However, according to a 2022 Urban Institute report, Humboldt Park is one of four predominantly Latine neighborhoods in Chicago where lending gaps persist. The following organizations are working with 3C to make lending services and products more accessible to residents:  

• NHS, Illinois Housing Development Authority and Transform Capital serve on 3C’s Lending Action Team to provide expertise on how to create innovative and affordable mortgage products for potential homebuyers.  
• With 3C funding support and in partnership with Transform Capital, NHS is piloting a revolving loan fund to support 25 mortgage-ready buyers in both 3C-focus neighborhoods.  

Over the next few years, 3C and its partners will work collaboratively to bring forth solutions to the homeownership gap to help Humboldt Park residents become homeowners, stay in place, and build wealth. To learn more about 3C and get the latest updates, click here.