Chicago, IL (2021)

Covenant House Illinois

Investment

NMTC Amount: 8,500,000

Total Project Cost: 8,930,000

IMPACT

51 FTE jobs

45 construction jobs

Funding for the acquisition and renovation of a 3-story building located at 2934 West Lake Street in East Garfield Park for a nonprofit service provider.

Project Description

In January 2021, CDF provided $8.5 million in New Markets Tax Credit (NMTC) allocation to Covenant House Illinois QALICB LLC to fund the acquisition and renovation of a 3-story building located at 2934 West Lake Street in East Garfield Park. The project will house Covenant House Illinois (CHIL), an organization that provides homeless youth ages 18 to 24 with shelter and supportive services. Project elements includes 40 shelter beds on the top floor and a first-floor Youth Development Center and administrative headquarters featuring space for wraparound support services and workforce development programs, a large community room, a commercial kitchen, and a courtyard with a basketball court and garden. A future (non-NMTC) phase will complement the project by rounding out CHIL’s service offerings through the creation of a Transitional Living Program with up to 32 beds.

MAP

2934 West Lake Street, Chicago, IL 60612

Video

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