Home Grown

Finance » Rehabilitation finance

Single-Family Rehabilitation Loan Program

Oak Park, Cook County

This program allows qualified residents to maintain their homes at safe and desirable standards while preserving the village’s housing stock.


To assist homeowners with the maintenance of their homes to ensure safety and an adequate standard of living in compliance with Village housing and building codes.


Low-and-moderate income homeowners in the Village of Oak Park.


CDBG funds.


Has allowed seniors, low and very low-income people to stay in their homes.

Lessons learned

The program was completely revamped in 2008. Maximum loan amounts were reduced from $40,000 per unit to $25,000 per unit, which allows for interim control of lead paint hazards, rather than abatement.


The Oak Park Single-Family Rehabilitation Loan Program was developed to serve low-and-moderate income homeowners. This program allows qualified residents to maintain their homes at safe and desirable standards while preserving the village’s housing stock. The Single-Family Rehabilitation Loan Program includes the following initiatives:

  • Deferred Payment Loan
  • Emergency Loan
  • Lead Hazard Reduction Grant

How it works

To be eligible for the loans, the property must be an owner-occupied, single-family home located within the village of Oak Park. Applicants must hold the title to the property and qualify under income restrictions to receive aid.

Deferred payment

The deferred payment loan is a no-interest loan of up to $25,000. The loan is repayable either after 20 years or when the property title is transferred. The loan is placed as a junior mortgage against the property. All work must be performed by a general contractor chosen by the homeowner and Village through a competitive bidding process.

Emergency loans

Emergency loans are no-interest loans distributed in amounts up to $5,000 for correction of single emergencies and code violations such as replacing a furnace. The loan is repayable after five years or after the title on the property is transferred. Just as with the deferred payment loan, the emergency loan amount is added as a junior mortgage on the property.


The single-family rehabilitation grants/loans program is financed with federal Community Development Block Grant funds.

Between 2008 and 2013

Type of loan/grantAmountParticipants
Totals $978,833 62
Deferred payment $612,746 31
Emergency loan $4,541 2
Lead hazard reduction $358,546 29


Department of Community Development, Village of Oak Park
708-358-5419, grants@oak-park.us, www.oak-park.us

Metropolitan Planning Council 140 S. Dearborn St.
Suite 1400
Chicago, Ill. 60603
P 312 922 5616 F 312 922 5619 info@metroplanning.org
Shaping a better, bolder, more equitable future for everyone

For more than 85 years, the Metropolitan Planning Council (MPC) has partnered with communities, businesses, and governments to unleash the greatness of the Chicago region. We believe that every neighborhood has promise, every community should be heard, and every person can thrive. To tackle the toughest urban planning and development challenges, we create collaborations that change perceptions, conversations—and the status quo. Read more about our work »

Donate »