The Micro Market Recovery Program (MMRP) is an initiative of the City of Chicago’s Department of Planning and Development that assists in rebuilding distressed communities by reducing the cost of homeownership, creating communities of choice, and attracting new owners to vacant buildings on targeted neighborhood blocks.
The program is based on three principles: strategic targeting of resources to small geographies, collaborative deployment of those resources by private, public and non-profits partners, and comprehensively utilizing those resources to address the specific needs of families, buildings and blocks.
MMRP has ten designated target areas, which are mapped below. In each target area, a community partner organization works to increase neighborhood stability through reinvestment in vacant buildings and supporting current homeowners, while increasing the opportunity for new home ownership. The City provides $15,000 in down payment assistance to eligible owner-occupants ready to buy a home in an MMRP area. The City also offers forgivable loans to help current owner-occupants make home repairs.
Anyone interested in purchasing a home or developing real estate in one of the targeted areas should contact the appropriate community partner listed below. Existing residents seeking financial assistance toward homeownership should do the same. General inquiries regarding MMRP can be directed to Assistant Commissioner Will Edwards at the Department of Planning and Development, firstname.lastname@example.org.