Here to Stay
Community Land Trust
Housing is for living, not for flipping!
¡Un hogar es un patrimonio y para vivir, no un negocio!
Our community has been greatly impacted by displacement caused by gentrification. We found a way to keep nuestra gente en el barrio! Here to Stay is a homeownership model for moderate-income, long time Logan Square/Avondale/Hermosa residents who want to stay in their community. It is an anti-displacement effort created by neighbors. Your purchase price is more affordable because the land trust is deeply discounting the sales price of the property.
We Welcome Our First Home Owners!
[Chicago 2022/07/26] The Here to Stay Community Land Trust celebrated its first affordable home sale in the Logan Square area with a ribbon-cutting ceremony, featuring the new homeowners, on Wednesday, July 27.
The sale is a result of the new Here to Stay trust, which uses the city's affordable housing subsidies to make home-buying more affordable for local families who would otherwise be priced out of the market.
Local leaders attending the ribbon-cutting will include Chicago Commissioner of the Department of Housing Marisa Novara, 1st Ward Alderman Daniel La Spata and 35th Ward Alderman Carlos Ramirez-Rosa. Illinois State Senators Omar Aquino and Cristina Pacione-Zayas will also be in attendance.
Here to Stay was developed out of the Hermosa and Logan Square West Quality-of-Life Plan (QLP, facilitated by LISC) published in 2018 by Palenque LSNA and three community partners—Palenque LSNA, the Center for Changing Lives, LUCHA, and the Spanish Coalition for Housing. The initiative was launched to close the affordability gap for low- and moderate-income households in Logan Square and Hermosa.
Homebuyer Education Classes
Homebuyer education and mortgage readiness are two of the first steps in becoming a homeowner in Here to Stay. Each of our partners offers pre- and post- purchase counseling and homebuyer education classes required for certain down payment assistance programs. Whatever your schedule, you can find a class here! Programs are offered through these HTS partners.
The Here to Stay Community Land Trust (CLT) provides single family and two flats that are affordable to owner-occupant buyers at 60% - 120% Area Median Income (AMI), or incomes between $62,520 - $125,040 for a family of four. In a two flat, two families may consider both household incomes to reach the AMI needed.
The purchase price is well below market price for this area because the homeowner is only buying the house, not the land, made possible by the fact that Here to Stay deeply subsidizes the first purchase of the home by the first homebuyer. The homeowners lease the land from the community land trust in a long-term, 99-year, renewable lease.
The homeowners agree to sell the home at a restricted price to keep it affordable in perpetuity, but they build equity through market appreciation and paying down their mortgage and pay reduced property taxes on the affordable sale price,.
Here to Stay CLT preserves naturally occurring affordable housing by closing the affordability gap so that low- to moderate-income households can remain in high opportunity, rapidly gentrifying neighborhoods, ensuring the families can remain and thrive as economic opportunity continues to grow.