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FHLBank Chicago celebrates opening of affordable housing development

Photo: Adobe Stock

July 1, 2026

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The Federal Home Loan Bank of Chicago partnered with Village Bank & Trust to support Poupard Place, a 48-unit affordable housing development in Northbrook, Illinois. The banks gave a $1 million Affordable Housing Program grant to fund the project, according to a press release.

The site is a four-store structure with 48 apartments. These units are for households that earn up to 60% of area median income with one, two and three bedroom options. Poupard Place also features a community room, outdoor spaces and energy-efficient appliances.

The Affordable Housing Program is designed to support acquisition, construction and rehabilitation of affordable housing. In 2025, FHLBank Chicago delivered $52 million in these grants for more than 1,600 households in Illinois and Wisconsin.

The grand opening of Poupard Place was attended by representatives from Rep. Brad Schneider and Rep. Jan Schakowsky.

"Stable housing is about more than having a roof over your head. It provides a foundation for independence and long-term security. Poupard Place in Northbrook embodies that promise through its commitment to accessible, permanent supportive housing," Rep. Schneider said in the release. "I am proud to have this wonderful development in the 10th District and look forward to seeing it help individuals and families achieve the sense of belonging that comes with having a place to call their own."