Chicago Flats Initiative
Building wealth and preventing displacement
About Chi Flats
The Chicago Flats Initiative is a coalition of community organizations whose goal is to preserve and maintain 2-4 unit housing. These small multi-unit homes are vital to Black and Latino communities, providing wealth-building opportunities and affordable housing.
The initiative is made up of outreach, financing, policy, and direct service organizations that have come together to connect homeowners and renters to available mortgage and rental resources.
0%
of all housing units in
Chicago are 2-4 flats
0%
2-4 flats are
owner-occupied
0%
2-4 flats are rented by people of color
Source: Institute for Housing Studies at DePaul University
Initiative Details
NHS is offering the following programs through the Chicago Flats Initiative:
- HUD-certified financial counseling services and Landlord Training classes
- Foreclosure prevention resources to keep homeowners of 2-4 flats in their homes
- Competitive mortgage loans
- Home purchase assistance up to $15,000
- Home improvement loans
- Grants to reactivate units
- Grants to prevent eviction
- Health and safety inspections
- Construction management services
Thank you to Wells Fargo
We could not do this vital work without partners who believe in our mission. In June of 2024, Wells Fargo announced their pledge of $500,000 to the Chicago Flats Initiative. This crucial funding will help preserve the wealth of more 2-4 flat owners in communities on the South and West Sides of Chicago.
Community Partners
“Preservation of these properties supports existing owner-occupants, facilitates wealth-creation opportunities for new owner-occupants, and stabilizes the housing of both renters and owners.”
“I always wanted to be a multi-unit owner. It was both building generational wealth and putting people from our community in an affordable piece of housing.”
Have questions about the Chicago Flats Initiative?
Our team is standing by ready to help renters, owners, and small-unit landlords.
In the News
Black And Latino Chicagoans Are Snapping Up Two-Flats — A Promising Sign, Experts Say
via Block Club Chicago
Chicago can’t afford to lose its small ‘mom-and-pop’ landlords
via Crain’s Chicago Business
