About us

WHO WE ARE

The First Community Land Trust of Chicago uses an innovative model to help new homeowners buy at affordable rates.

The First Community Land Trust of Chicago was created in 2003 in response to increasingly unaffordable housing in the area.  Analysis showed that rising property values were likely to skyrocket in the next decade as development and gentrification pushed in from the East.  The First Community Land Trust of Chicago is designed to give area residents more control over the development of their neighborhood so that development reflects the needs and desires of the community. 

The Community Land Trust model keeps the home affordable for future buyers.  Homebuyers purchase the home but not the land.  This substantially lowers the cost to the buyer.  Homebuyer subsidies are also available for qualified applicants.   The land is leased from the land trust under a renewable 99 year lease agreement.