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Federal Home Loan Bank of Chicago cuts ribbon on 50 affordable apartment units

Photo: Federal Home Loan Bank of Chicago

August 28, 2026

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Federal Home Loan Bank of Chicago recently celebrated the opening of Earle Residents, which consists of 50 affordable rental units in Chicago. The bank awarded a $1 million Affordable Housing Program grant for this project, according to a press release.

The area was formally Charles Warrington Earle School, which was constructed in 1897. The project updated the building and added gathering and gardening spaces, computer lab, bicycle storage, gym and places to go for private telehealth appointments.

The Phoenix Foundation is providing supportive housing at the property as well.

"Transforming Earle Residences into affordable housing gave us an opportunity to preserve an important piece of Englewood's history while creating homes that will serve the community for years to come," Sherri Allen-Reeves, executive director of Phoenix Foundation, said in the release. "We're grateful to FHLBank Chicago and the many partners who helped bring this vision to life."

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