Neighborhood Opportunity Fund Home
Neighborhood Opportunity Fund
The Neighborhood Opportunity Fund (NOF) provides grants up to $250,000 for small business and cultural projects located along West, Southwest, and South Side commercial corridors. NOF grants are provided as reimbursement for up to 75% of eligible project expenses with a maximum grant of $250,000. Applicants may qualify for additional funding for Technical Assistance.
Funds are sourced from fees paid by downtown construction projects through the Department of Planning and Development's Neighborhood Opportunity Bonus program.
Grants in excess of $300,000 are available through DPD's Community Development Grant (CDG) program. For information on grants between $300,001 and $5 million, visit the CDG-Medium page. For information on grants exceeding $5 million, visit the CDG-Large page.
Potential applicants are encouraged to attend a grant information session or watch a recording of a previous event.
Previous sessions:
Webinar | Thursday, Nov. 19
Watch the recording
Webinar | Thursday, December 5
Watch the recording
NOF information session
Watch the recording
All NOF projects must be located on an eligibile or priority corridor. To confirm your property is eligibile, email NOF@CityofChicago.org with the full address.
NOF grants fund permanent capital improvements. Eligible project types and expenses include:
Eligible Projects:
- Commercial (office, retail)
- Cultural (museums, theaters, performance venues)
- Non-profits with an on-site commercial component
- Commercial components of industrial uses
Eligible Expenses:
- New construction
- Storefront buildouts
- Facade repair, window, and door replacement
- Plumbing, electrical, and HVAC work
- Roof repairs
- Acquisition costs - as part of a larger construction or renovation project
- Soft costs (design, technical assistance)
NOF does not award grants for the construction or rehabilitation of residential uses, manufacturing uses, industrial uses, or places of worship that do not identify commercial as the primary use of a project. For full project eligiblity information, see the NOF Program Manual.
Applications are accepted through the City of Chicago's Submittable online portal. Those interested in applying are encouraged to attend an NOF information session prior to submitting their materials.
To stay informed about NOF, sign up to receive updates via email.
Next application period
Application opening: Tuesday, Nov. 12, 2024
Application deadline: 11:59 p.m. Friday, Feb. 14, 2025
In January 2025, NOF administrator SomerCor released two Requests for Qualifications (RFQs) as part of enhancements to the program. The RFQs seek qualified organizations capable of participating in the NOF program and providing the services outlined.
Applications for both RFQs are due by 5 p.m. on Friday, Feb. 28.
RFQ for Community Development Financial Institution Providers (CDFIs)
NOF is seeking applications for CDFIs to participate in its Loan Loss Reserve (LLR) program and provide lending services for NOF grantees in support of financing and completing their projects.
RFQ for Techncial Assistance
NOF is seeking applications for professional services firms, architectural firms, nonprofit organizations, sole proprietors and other professionals to provide specific technical assistance services for NOF participants in completing their projects.