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$1 Million AHP Grant Supports 48 New Affordable Homes in Northbrook
FHLBank Chicago and Village Bank & Trust, a Wintrust Community Bank, celebrated the opening of Poupard Place, a new 48-unit affordable and supportive housing development in Northbrook, Illinois.
Supported by a $1 million Affordable Housing Program (AHP) grant awarded in partnership with Village Bank & Trust and Housing Opportunity Development Corporation, Poupard Place expands access to affordable housing for individuals and families, including those with disabilities, in Chicago’s northern suburbs.
FHLBank Chicago will announce its 2026 AHP General Fund awards this fall.
Read the Poupard Place story →
Additional $17 Million Committed to 2026 Downpayment Plus® Programs
As part of our continued commitment to supporting affordable housing, we've committed an additional $17 million to our 2026 Downpayment Plus® (DPP®) Program, bringing total funding this year to $48 million.
The additional funding expands our members' capacity to help more income-eligible homebuyers across Illinois and Wisconsin overcome down payment and closing cost barriers through forgivable grant assistance.
Through the first half of 2026, participating members have already disbursed more than $19 million in DPP funding to support over 2,000 homebuyers. We're proud to continue working alongside our members to expand access to homeownership across our district.
MPF® Habitat for Humanity® Program Funding Increased to $3 Million
We've increased the available subsidy for the MPF® Habitat for Humanity® Program to $3 million to expand affordable homeownership opportunities. The program's member limit has also increased from $1 million to $2 million in unpaid principal balance.
These enhancements reflect strong member interest in the program and provide participating financial institutions with more opportunity to deliver eligible Habitat loans through the MPF Program. They create additional capacity for approved member financial institutions to provide below-market mortgage financing to eligible homebuyers working with Habitat for Humanity affiliates across Illinois and Wisconsin.
Nominations Open for FHLBank Chicago's Community Investment Advisory Council
FHLBank Chicago is now accepting nominations to its Community Investment Advisory Council. Nominations opened August 19 and will be accepted through 5:00 p.m. CT on September 16, 2026.
The Advisory Council is comprised of affordable housing and/or community lending leaders residing in Illinois or Wisconsin and meets at least quarterly with representatives from FHLBank Chicago’s Board of Directors and leadership team to advise on opportunities for FHLBank Chicago to maximize the impact of its community investment activities. Advisory Council members are appointed by FHLBank Chicago’s Board of Directors to serve three-year terms. Employees of FHLBank Chicago member institutions are ineligible to serve on the Advisory Council.
To nominate an individual to the Advisory Council, or to self-nominate, please complete and submit the 2027 Nomination Form. Contact Community Investment at 312.565.5824 or ci@fhlbc.com with any questions.