In a concerted push to bring affordable housing options to Chicago neighborhoods, Cook County has unveiled two new modular homes as part of a wider initiative targeting the Humboldt Park area, Chicago Heights, and Proviso Township. With a $12 million budget allocated to develop 120 modular homes across these regions, the county aims to respond to the scarcity of new home construction and address affordability, as reported by Cook County Government's announcement.
These inaugural residences are situated on a the 800 block of North Homan Avenue and represent the first step of the Cook County Modular Homes Pilot Program in revitalizing vacant lots into habitable spaces. "These modular homes will provide affordable, quality housing in communities of need, and we are grateful to our many partners for their collaboration," Cook County Board President Toni Preckwinkle expressed in an official statement. There's a strong emphasis on breaking historical financial barriers impeding homeownership for many families.
Eligibility for this program extends to those earning up to 120% of the county's median income, while in certain areas designated as disproportionately impacted and qualified census tracts, there will be no income restriction. Constructed by Inherentance, a nonprofit development firm, these homes are built in an eight-week timeframe within a controlled factory setting, then transported and assembled on site.
Tim Swanson, founder of Inherentance, underscored the dual benefits of the initiative: "Our mission has always been to make homeownership accessible and sustainable and we are thrilled to be part of this groundbreaking initiative to transform vacant lots into beautiful, affordable homes," he told Cook County Government. Swanson hails the use of modular construction for its speedy delivery, waste reduction, and high standards of quality and sustainability. This approach is especially pertinent given the often unpredictable nature of Chicago's weather, which can impede traditional construction methods.
Equipped with three bedrooms, two bathrooms, and spanning 1,445 square feet over two floors, these all-electric homes are fitted with Google Smart Home technology, offering homeowners contemporary comforts and customizability. Additionally, the properties include dedicated parking and secure yards, augmenting the appeal for potential buyers.
Financial incentives complement the modular homes, with a Cook County Down Payment Assistance Program offering subsidies and the Cook County Land Bank Authority's Purchase Assistance Program providing grants. These programs are designed to alleviate the initial economic burden for homebuyers, making the process more approachable. While mortgage payments will vary depending on subsidy amounts and sale prices, these efforts underline Cook County's commitment to fostering more accessible homeownership within its communities.
