The Neighborhood Opportunity Fund (NOF) provides capital development grants up to $250,000 for small business and cultural projects located along West, Southwest, and South Side commercial corridors. NOF grants are provided as reimbursement for up to 75% of eligible project expenses with a maximum grant of $250,000. Applicants may qualify for additional funding for Technical Assistance.

Funds are sourced from fees paid by downtown construction projects through the Department of Planning and Development's Neighborhood Opportunity Bonus program.

Grants in excess of $300,000 are available through DPD's Community Development Grant (CDG) program. For information on grants between $300,001 and $5 million, visit the CDG-Medium page. For information on grants exceeding $5 million, visit the CDG-Large page.

Applications are accepted on a rolling basis through the City of Chicago's Submittable online portal and evaluated quarterly. Those interested in applying are encouraged to attend an NOF information session prior to submitting their materials.

To stay informed about NOF, sign up to receive updates via email. 

Next application period 

Q2 application deadline: 11:59 p.m. Friday May 16, 2025 

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Upcoming 2025 application periods

Q3: Friday, Aug. 15
Q4: Friday, Nov. 14

Note: future application deadlines are subject to change and will be finalized at a later date.

All NOF projects must be located on an eligibile or priority corridor. To confirm your property is eligibile, email NOF@CityofChicago.org with the full address.

NOF grants fund permanent capital improvements. Eligible project types and expenses include: 

Eligible Projects: 

• Commercial (office, retail) 
• Cultural (museums, theaters, performance venues)
• Non-profits with an on-site commercial component 
• Commercial components of industrial uses

Eligible Expenses: 

• New construction  
• Storefront buildouts  
• Facade repair, window, and door replacement  
• Plumbing, electrical, and HVAC work 
• Roof repairs
• Acquisition costs - as part of a larger construction or renovation project
• Soft costs (design, technical assistance)

NOF does not award grants for the construction or rehabilitation of residential uses, manufacturing uses, industrial uses, or places of worship that do not identify commercial as the primary use of a project. For full project eligiblity information, see the NOF Program Manual.

Potential applicants are encouraged to attend a grant information session or watch a recording of a previous event.

Previous sessions:

Webinar | Thursday, Nov. 19, 2024
Watch the recording

Webinar | Thursday, December 5, 2024
Watch the recording

NOF information session
Watch the recording