• Commercial Loan Program:
• Described in Crain’s Chicago Business as “the granddaddy of suburban community lending,” the program was created in 1980 to encourage adaptive reuse of existing buildings.
• Applicants may qualify for privately-funded, 2.5 points below Prime rate loans to acquire and/or rehab commercial properties in Oak Park.
• OPDC works closely with you and one of our participating lenders to help with your specific needs.
• Micro Loan Program:
• Offers Prime rate loans to area small and start-up businesses to finance fixed assets, inventory and working capital.
• Funding for repair or property rehab may be considered.
• Loan funds may not be used by not-for-profits, home-based businesses or for acquisition of real estate.
• Loans range in size from $2,000-75,000.
• Madison Street Incentive Loan Program:
• OPDC Commercial Loan rehab projects on Madison Street in Oak Park may receive an additional 1.5 point interest rate subsidy and have some bank fees paid on their behalf.
• Gateway Incentive Loan Program:
• OPDC Commercial Loan rehab projects in designated areas in Oak Park may receive an additional 1.5 point interest rate subsidy (areas include North Avenue, Roosevelt Road or Chicago Avenue between Austin and Ridgeland).
• Commercial Property Rehabilitation & Preservation Grant Program:
• Partner program with the Village of Oak Park
• Offers a partial rebate to building/business owners to upgrade the facades of commercial property in Oak Park.
• Grants of 50% of the cost of pre-approved work are available, to a maximum grant of $10,000.
• Additional Assistance
• Retail Support Grant Program – administered by the Village of Oak Park; promotes and facilitates the location of new retail businesses, and the retention and expansion of existing retail businesses; provides matching grant funding for retail businesses for interior build-out or renovation of existing or newly leased space, including replacement/installation of building’s systems, demolition and workspace reconfiguration, installation of permanent fixtures, finishing work, architectural services, building permits and related fees.
• Downtown Oak Park Awning and Signage Grant – administered by Downtown Oak Park; 50% of the cost, up to $2,000 matching grant for pre-approved awning and/or signage.

Grant & Loan Applications
Guidelines for Commercial Property Rehabilitation & Preservation Grant Program
Application for Commercial Property Rehabilitation & Preservation Grant Program

Additional forms are not yet available online; please contact OPDC for applications.