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One Year Later: FHLBank Chicago’s $2 Million AHP Grant Helps Deliver 40 New Homes in Rural Wisconsin
One year after breaking ground, Trailview Cottages, a 40-unit affordable and workforce housing community in Hayward, Wisconsin, is fully occupied and connecting residents with on-site workforce training opportunities.
Supported by a $2 million Affordable Housing Program (AHP) grant awarded through FHLBank Chicago member IFF, Trailview Cottages was developed by Impact Seven with additional financing from Cinnaire. The community offers cottage-style homes and access to education and technical training through Northwood Technical College, helping address housing and workforce needs in northwest Wisconsin.
Located near Tamarack Health, the development combines affordable housing with opportunities for career training, helping support the region's workforce and connect residents with pathways to employment.
Read the Trailview Cottages story →
FHLBank Chicago Awards $5 Million to Expand Affordable Housing Developer Pipeline
FHLBank Chicago has awarded $5 million through its 2026 Community First® Developer Program to expand the pipeline of real estate developers advancing affordable housing across Illinois and Wisconsin.
Delivered through FHLBank Chicago member institutions, this year's grants will support an estimated 95 fellowships and internships across 27 organizations. The program provides emerging developers with hands-on experience in project management, predevelopment planning, construction and financing while helping organizations build capacity to advance affordable housing projects.
Since launching in 2022, the Developer Program has awarded $17 million to support the next generation of affordable housing professionals.
Read the announcement and view the full list of 2026 grant recipients →
Urban Institute Study on Homeownership Trends in FHLBank Chicago District
A new Urban Institute study released in late September examines homeownership trends across Illinois and Wisconsin. This data-driven look at the challenges and opportunities shaping the region’s housing supply highlights the impacts of aging housing stock, limited new construction, rehabilitation financing needs, and barriers that make it harder for families to find homes to purchase. The research also identifies potential pathways to increase supply and preserve existing housing.
The findings incorporate insights from FHLBank Chicago members and housing stakeholders across our district, helping connect market data with real-world community needs. Read the full report to explore the findings.
Additionally, tune in to the latest episode of the Banking on Connections podcast, where Urban Institute Fellow Laurie Goodman and FHLBank Chicago’s Katie Naftzger discuss the study’s key findings, what they mean for Illinois and Wisconsin communities, and opportunities worth exploring to support future homeownership.
FHLBank Chicago and WHEDA Recognize Housing Counseling Grants Supporting Milwaukee and Waukesha Area Homebuyers
FHLBank Chicago joined the Wisconsin Housing and Economic Development Authority (WHEDA) for two events recognizing several of the 14 Wisconsin organizations receiving grants through the Community First® Housing Counseling Resource Program (HCRP).
The first event took place on August 20 in Milwaukee where three HCRP grant recipients were recognized: Acts Housing, Housing Resources Inc. and United Community Center. The second event took place August 31 in Waukesha where La Casa de Esperanza was celebrated.
Funded by FHLBank Chicago and administered through partnerships with WHEDA in Wisconsin and the Illinois Housing Development Authority (IHDA) in Illinois, the HCRP provides grants to support HUD-certified housing counseling agencies that help individuals and families prepare for and sustain successful homeownership. These services also help connect FHLBank Chicago members with mortgage-ready homebuyers.
To learn more about the HCRP, tune in to a recent episode of the Banking on Connections podcast where FHLBank Chicago’s Jamie Lutton sits down with Sharon Legenza, Executive Director of Housing Action Illinois, and David Young, Director of Capacity Building, to explore how housing counseling helps prospective and current homeowners make informed decisions throughout their homeownership journey.
FHLBank Chicago Hosts Community Investment Officer Convening
FHLBank Chicago recently hosted the inaugural Affordable Housing Advisory Council (AHAC) Leadership Summit, bringing together Community Investment Officers from across the Federal Home Loan Bank System, AHAC leaders and representatives from the Federal Housing Finance Agency.
The summit provided an opportunity for participants to discuss affordable housing priorities, strengthen collaboration and share perspectives on challenges and opportunities facing communities nationwide.
Through these conversations, participants explored opportunities for greater coordination and alignment across the FHLBank System to support affordable housing needs across the country.
Coming Soon: 2026 AHP General Fund Awards Announcements
FHLBank Chicago will announce its 2026 Affordable Housing Program (AHP) General Fund awards in November. Applicants have been notified of award decisions following this year's competitive application round.Through the AHP General Fund, FHLBank Chicago provides grants through its member institutions to support the development and preservation of affordable housing across Illinois and Wisconsin.
Stay tuned for more details about this year's awards and the projects that will help expand affordable housing opportunities in communities across the region.