Mayor Brandon Johnson and the Chicago Department of Housing announced Monday a new program that gives eligible Chicagoans up to $70,000 in financial assistance to buy a new home.
The Homegrown Purchase Assistance Grant is aimed at low- and moderate-income families, for whom homeownership is becoming increasingly out of reach. The median sale price in April for a home in Chicago is $388,918 — up more than 5% year over year, according to Redfin.
The program will launch June 8, and it’s expected to aid between 300 to 400 buyers, depending on the size of each grant awarded…