Humboldt Park Mixed-Use Housing Financing

At a glance

• What: Two companion ordinances authorize multi-family program funds and bonds for the rehabilitation of the vacant Von Humboldt Elementary School at North Talman Avenue and West Hirsch Street in the 26th Ward (Fuentes's ward) into a four-story mixed-use building. The Community Builders, Inc. is behind both borrowers.
• 4 percent credit project (O2026-0027180): up to $6,769,454 in Multi-Family funds, $32,860,059 in HED bonds and $22,000,000 in Multi-Family Revenue Bonds, for 75 rental units, all for households at or below 80 percent of area median income (12 at 30 percent, 25 at 50 percent, 27 at 60 percent and 11 at 80 percent), including replacement public housing units.
• 9 percent credit project (O2026-0027221): up to $1,826,242 in Multi-Family funds and $2,830,405 in HED bonds, for 28 rental units (4 at 30 percent, 6 at 50 percent, 15 at 60 percent and 3 at 80 percent).
• Vote: Both passed 50 to 0 on September 23, 2026 after Finance Committee voice votes with no dissent on September 22.

Sources

• City Council journal, September 23, 2026, Volume I: https://chicityclerk.s3.us-west-2.amazonaws.com/s3fs-public-1/reports/2026_09_23%20Journal%20of%20the%20Proceedings%20Vol.%20I.pdf
• Journal pages 48701 to 48868.

Log

2026-09-23 - City Council

Both ordinances passed 50 to 0 on Dowell's motion.

2026-10-05 - Committee on Finance

TEFRA hearing on up to $22 million in revenue bonds for 75 affordable rental units; no written comments; closed without a vote.