IFF started as a facility lender for Chicago nonprofits serving low-income groups and soon expanded its affordable lending services to nonprofits across the state, opening a Springfield office in 2001 to better serve nonprofits in the state’s central and southern regions.
IFF works across sector with agencies like CommunityHealth, which utilized a below-market rate IFF loan to move from renting to owning a facility for its health clinic and expand its space. Upon moving into their new space, CommunityHealth saw their revenue and net assets double.
In 1996, IFF was among the first community development financial institutions in the nation to provide below-market rate financing specifically for charter schools. IFF has helped charter school operators in Illinois to identify, acquire, and rehab facilities to meet their needs.
In 1997, IFF developed a real estate services department, providing space and financial planning, and project management to help nonprofits in the Chicago Metropolitan area navigate facility projects. Our real estate experts also offer complimentary tools and resources to support nonprofit organizations who are planning projects—podcasts covering real estate and financial topics, helpful planning worksheets, and in-person workshops.
In 2000, IFF helped develop the Children's Capital Fund, a public-private partnership to develop early childhood education and care facilities in Chicago's highest-need communities.
You can browse an interactive map of IFF loans and real estate projects in Chicago here.
Some of the agencies that we have been proud to work with recently are highlighted below.
|

|
Inspiration Corporation, Chicago
In 2011, Inspiration Corporation's Garfield Park restaurant celebrated its grand opening. Inspiration Corporation asked IFF for an acquisition and construction loan for its fourth site, where meals for the homeless and food service training are provided. Already a two-time loan customer, IFF provided them with a $520,000 loan to develop Inspiration Kitchens, a restaurant, catering, and job training facility on Chicago’s west side that will serve meals to an estimated 3,500 low-income families, train 100 people for jobs, and create 12 full-time jobs. IFF’s Real Estate Services division was chosen to plan and manage the $2.4 million project.
|
 |
LEARN Hunter Perkins Campus, Chicago
With the help of a $1 million loan from IFF's energy efficiency loan fund, LEARN Charter School Network made significant renovations to a vacant parochial school building that include many green, energy efficient features. Improvements to the new campus include high performance lighting fixtures, energy efficient windows, and a building automation system that controls the lighting and mechanical systems to reduce unnecessary energy use. These improvements not only significantly cut down on energy costs, but also create a healthy and positive learning environment for the students.
The Hunter Perkins Campus is located in Chicago's Auburn Gresham neighborhood. It currently houses grades K-3 and will serve grades K-8 by 2017. LEARN serves nearly 2,000 students and plans to expand its reach to 8,000 low-income students over the next decade.
|
 |
The Maywood Apartments, Maywood
IFF’s Real Estate Services was contracted by the West Cook County Housing Collaborative to coordinate the Neighborhood Stabilization Program (NSP) on its behalf. The Collaborative, an effort between Bellwood, Berwyn, Forest Park, Maywood, and Oak Park municipalities, was formed to increase access to quality, affordable housing in West Suburban Cook County. Taking an innovative approach to acquiring NSP funds, IFF filed a single application to support the housing needs of the sub-region rather than applying for each individual municipality
The Collaborative was awarded approximately $3 million through Cook County. A portion of the funds is being used to renovate a 26-unit apartment building in Maywood. IFF Real Estate Services is managing the development of the Maywood Apartments, including selecting and managing the project team.
|
 |
Hardin County General Hospital, Rosiclare
Hardin County General Hospital is a 25-bed Critical Access Hospital (CAH) providing inpatient, outpatient and emergency care services to residents of Hardin, Saline, Pope and parts of Gallatin counties in southern Illinois. Of the organization’s 27,000 patients, 52 percent are low-income, and 15 percent are seniors.
IFF provided Hardin with an affordable, flexible equipment loan for $491,000 to purchase hardware, software, support services and the installation of electronic health records (EHRs). Installing EHRs will allow Hardin to maximize incentive payments from Medicare and better manage patient care.
|
Illinois Borrowers
- Asian Human Services
- Boys and Girls Clubs of Central Illinois
- Community Health and Emergency Services
- Habitat for Humanity of Champaign County
- Heartland Alliance for Human Needs & Human Rights, and affiliates
- Jane Addams Hull House Association
|
Illinois Real Estate Clients
- Access Living
- Children’s Home + Aid Society
- CommunityHealth, NFP
- Erie Family Health Center
- Inspiration Corporation
- Lutheran Social Services
- Noble Network of Charter Schools
- One Hope United
|
View all Borrowers View all Real Estate Clients
IFF’s research department has also conducted research specific to Illinois, including:
Contact
To discuss our work and services in Illinois, please contact Amy Stewart at 312 629 0060.
To get directions to IFF's Illinois office, go to the Contact Us page.
To download print-ready overview sheets of IFF’s Loan Programs in Illinois, please click here for Chicago Metro area or here for Central and Southern Illinois.