Chicago Neighborhood Opportunity Fund (NOF)
City of Chicago Department of Planning and Development (DPD) / SomerCor
Up to $250,000
Chicago commercial buildout grant
The Neighborhood Opportunity Fund provides capital-improvement grants to small businesses and cultural organizations undertaking commercial real estate projects on Chicago's South, Southwest, and West Sides. Funded by density-bonus fees paid by downtown developers, NOF reimburses up to 75% of eligible construction and rehabilitation costs, with a maximum grant of $250,000. An additional Technical Assistance Fund of up to $50,000 supports approved design and pre-development services. Administered for the City of Chicago Department of Planning and Development by SomerCor, the program operates on a rolling basis with quarterly review cycles and remains active in 2026.
- Funding type
- Grant
- Level
- Municipal
- Amount range
- Up to $250,000
- Realistic amount
- Most NOF small-business awards fall well below the $250,000 cap. Smaller storefront buildout…
- Deadline
- Rolling intake with quarterly review cycles. Recent published deadlines include mid-May (Q2), mid-August (Q3), and mid-November (Q4).
- Status
- active
- States
- Illinois
- Payment model
- reimbursement
Who qualifies
- Project must be located along an eligible commercial corridor on Chicago's South, Southwest, or West Side (verify via the NOF eligibility map)
- Eligible project types: commercial (office, retail, exteriors of mixed-use), cultural (museums, theaters, performance venues), artisanal manufacturing with a commercial component, and nonprofits with on-site commercial components
- Project must be a revenue-generating permanent capital improvement, not operational expenses
- Applicant must demonstrate the financial capacity to fund the non-reimbursed share and front project costs
- Work must not begin before grant approval
What it covers
Eligible expenses
- New construction and rehabilitation of commercial space
- Exterior improvements (storefront, facade, signage as part of the buildout)
- Interior permanent improvements and buildout
- Mechanical, electrical, and plumbing system upgrades
- Site preparation
- Approved design and pre-development soft costs (via the Technical Assistance Fund)
Ineligible expenses
- Operational and working-capital costs
- Furnishings and movable equipment
- Interiors of residential units
- Costs incurred before grant approval
How to apply
-
1
Confirm location eligibility
Use the NOF interactive eligibility map to confirm the project address sits within a qualifying South, Southwest, or West Side commercial corridor. Ineligible locations cannot be funded.
~1 hrs
-
2
Attend office hours and scope the project
Meet with SomerCor (weekly office hours) to review eligible costs, the 75% reimbursement structure, and required documentation. Optionally engage an approved technical-assistance provider to access the Technical Assistance Fund.
~3 hrs
-
3
Assemble project budget and documents
Gather contractor bids, a detailed project budget, ownership or lease documentation, business financials, and design/scope materials. Permanent-improvement and exterior/interior buildout costs are eligible; furnishings, operations, and residential interiors are not.
~8 hrs
-
4
Submit through Submittable before the quarterly deadline
Complete and submit the application via the City of Chicago Submittable portal before the relevant quarterly deadline. Applications are reviewed quarterly.
~3 hrs
-
5
Execute grant agreement and complete the project
If approved, execute the grant agreement before starting work, complete the project, and submit paid invoices and proof of completion to receive reimbursement of up to 75% of eligible costs.
~4 hrs
The Technical Assistance Fund (up to $50,000) is underused — pairing with an approved TA provider can cover design and pre-development soft costs you'd otherwise pay out of pocket, and the provider helps assemble a stronger application. Because NOF reimburses after completion, line up financing to front 100% of project costs first; cash flow, not eligibility, is what trips up most applicants.
Deadline & timing
Applications are submitted through the City's Submittable portal and evaluated quarterly. Applicants should confirm their project address against the official NOF eligibility map before applying. SomerCor holds weekly office hours to support applicants.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.