The Village of Oak Park | 123 Madison St.  Oak Park, IL 60302 | village@oak-park.us

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Rehab loans, grants available

Rehabilitation loans and grants are available to owners of single family homes and rental buildings with seven or fewer units. Income-eligible, single-family households may be eligible for no interest loans of up to $25,000 to correct health and safety issues and building code violations. No monthly payments are required and loans are repayable after 20 years or when the property is transferred. Rental properties with fewer than eight units may be eligible for forgivable loans of up to $5,000 per unit for projects such as property repairs, unit upgrades and energy efficiency improvements. Owners must contribute matching funds of at least 25 percent of the total project cost and agree to rent to income-eligible tenants for two years. For more information, visit www.oak-park.us/housing, email housing@oak-park.us or call 708-358-5410.