A Cook County pilot program aimed at making homeownership possible for more residents hit a big milestone Wednesday, with the opening of two modular homes in Humboldt Park.
Led by the Cook County Bureau of Economic Development, the Modular Home Pilot Program will create 120 new homes across Chicago Heights, Humboldt Park and Proviso Township. Officials said the construction is limited to those neighborhoods, since many families are being displaced from other areas because of rising home prices.
The two homes unveiled Wednesday, on the 800 block of North Homan Avenue, are the first of 12 that will be built in Humboldt Park. The Cook County Land Bank Authority provided the former vacant lots, and both homes are close to securing buyers, according to officials.
Cook County Commissioner Jessica Vasquez said they’re each being sold for roughly $357,000. The median sale price for homes in the area is more than $470,000, according to Realtor.com.
“We saw this pilot program as an opportunity to give this land purpose,” said Jessica Caffrey, executive director of the Cook County Land Bank Authority. “It’s no longer an eyesore in the community.”
Homeownership is often a foundation for building generational wealth — something Cook County residents don’t always have equal access to, Cook County Board President Toni Preckwinkle said. She said the pilot program is a step toward changing that trend.
The modular homes will be available to those making up to 120% of Cook County’s median income. For a two-person household, that’s an annual income of up to $115,200.
But there’s no income limit for those living in areas disproportionately impacted by the pandemic or in qualified census tracts, according to the county. Qualified census tracts are areas where half the households have incomes below 60% of the area median gross income or have a poverty rate of 25% or more.
Homebuyers can also layer up to four housing grants, including the Cook County Down Payment Assistance Program and the land bank’s Purchase Assistance Program.
“In Cook County, we believe that home ownership should be within reach for everyone — not just a privileged person,” Preckwinkle said.
The county board in May 2024 approved $12 million for the pilot program. The homes will all be modular, meaning built off-site in sections then assembled at the vacant lots. Inherent L3C, based in North Lawndale, is the developer.
Inherent founder Tim Swanson said the company has houses “up and down this block,” and the two three-bedroom homes showcased on Wednesday are only the start.
Swanson said local homeownership will empower residents across Humboldt Park, especially at a time where rents are comparable to mortgage payments.
“Let’s do this stuff better. Let’s build better housing. Let’s build better blocks and believe in a better version, where we are all thriving,” Swanson said. “That rising tide … it affects everybody.”
All of the modular homes in Humboldt Park will be two-story properties, with two parking spaces and fenced yards. The 1,445-square-foot homes have three bedrooms, two bathrooms and two living spaces. They’re also all-electric, which can drastically lower utility bills, Swanson said.
County Commissioner Tara Stamps, whose district includes Humboldt Park, said the program will help put the dream of homeownership within reach for many Cook County residents.
“Families that live up and down this block pay obscene amounts of monies for rent, and so many of them could very well afford a mortgage if they but only had the chance; if they but only had the support to get started; if they but only had the hope and the education and had the ability to connect the dots from where they are to where they want to be,” Stamps said. “Right now, I’m so pleased to say they are in that moment.”
