FHLBank Chicago Awards $52 Million in Affordable Housing Grants to Strengthen Communities throughout Illinois and Wisconsin

CHICAGO--(BUSINESS WIRE)--The Federal Home Loan Bank of Chicago (FHLBank Chicago) today announced it has awarded $52 million through its 2025 Affordable Housing Program (AHP) General Fund round to help finance 37 housing projects located in Illinois and Wisconsin. This funding will enable the acquisition, rehabilitation, and new construction of over 1,600 housing units.

"Affordable housing remains a critical need throughout Illinois and Wisconsin, especially as residents face elevated interest rates, limited inventory, and increased construction costs,” said Michael Ericson, President and CEO, FHLBank Chicago. “Through our AHP General Fund, we’re proud to partner with our members and community organizations to increase supply of, and expand access to, quality housing."

Since program inception in 1989 through year-end 2024, FHLBank Chicago has allocated more than $550 million in AHP General Fund grants, helping provide housing for over 83,000 households. The 2025 award recipients will support a range of communities—including rural, urban and tribal areas—and populations such as seniors, veterans, and working families...   ...more