Lending & Investment Snapshot

for Humboldt Park (Chicago Ave) INVEST South/West priority corridor

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Demographics

Demographics data considers all 3 Census tracts

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Demographics source & margins of error

U.S. Census, American Community Survey (ACS) 5-year (2016-2020). All Census data has a "margin of error" (MoE). Use Census Reporter, a third-party website, to explore the MoE for the data in each Census tract.

What is Lending & Investment Snapshot?

Chicago Cityscape created the Lending & Investment Snapshot to bring together data and research about neighborhood-level investments. Use this information to comparatively analyze different parts of Chicago and Cook County. Data in this snapshot can be used to support a place-based investment strategy.

What's in this snapshot

  • Home mortgages
  • Small business loans
  • City of Chicago-funded projects
  • Property sales

Also try Businesses Snapshot to see which businesses are most common here


Public sector investments in Humboldt Park (Chicago Ave)

14 projects co-funded by the City of Chicago

Neighborhood Opportunity Funded projects data has not been updated by the source since October 2021.

TIF-funded projects

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Neighborhood Opportunity Fund (NOF) projects

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Small Business Improvement Fund (SBIF) projects

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Proposed TIF-funded projects

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Review our home mortgage data source in the "Why we made Lending & Investment Snapshot" at the end of the page.


Small business loans data from 2018, as reported by banks

The table's bottom row and the chart's right-most column shows the average of 3 Census tracts that overlap Humboldt Park (Chicago Ave) (shown in black on the map)

Most insured depository institutions (banks and credit unions) are required to report certain information about loans made to businesses in their service area, as regulated by the rules that implement the Community Reinvestment Act (CRA) to ensure that the institutions make loans to businesses in low and moderate-income areas.

Notes

  • Small business loans are those worth $1 million or less
  • Cook County tracts are larger in geographic area in Chicago tracts, so it is not surprising that there is more lending happening in the average Cook suburban County tract.
  • "Mission lending" is not counted here. See the Urban Institute report in "Why we made Lending & Investment Snapshot" below for more info.
Tracts in category # of loans <= $100,000 Subtotal of loans <= $100k # of loans $100k-250k Subtotal of loans $100k-250k # of loans > $250k Subtotal of loans > $250k # of loans to small biz w/gross revenue < $1m Avg. total loans Avg. loan value
Average Chicago tract 873 70 $867,290 2 $413,673 3 $1,662,404 34 75 $2,943,367
Average Chicago tract (except Loop) 868 64 $783,080 2 $357,755 3 $1,399,888 32 69 $2,540,722
Average suburban Cook County tract 480 122 $1,597,565 4 $734,908 4 $2,356,429 59 131 $4,688,902
Average Cook County tract 1,317 88 $1,115,705 3 $522,947 3 $1,898,488 43 94 $3,537,140
These tracts (average) 3 21.7 $159,667 0.7 $112,333 0.7 $274,000 23.0 $546,000

Small business loans total for Humboldt Park (Chicago Ave)

Total number of loans69
Total loan value$1,638,000
Active business licenses in these 3 tracts in 2018131
Active business licenses citywide in 201855,649

Property Sales Humboldt Park (Chicago Ave)

Property sales for the last 16 quarters

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Additional Snapshots

Environmental

Climate change information, tree coverage, flood risk, solar energy funding, and storage tanks.

Environmental Snapshot
Humboldt Park (Chicago Ave)

Transportation & Jobs

Locate transit & transportation assets, cargo facilities, commute statistics, IDOT jurisdiction, and job clustering.

Transportation & Jobs Snapshot
Humboldt Park (Chicago Ave)


Why we made Lending & Investment Snapshot

Lending & Investment Snapshot was inspired by a report from the Urban Institute: Neighborhood Disparities in Investment Flows in Chicago (PDF).

As part of place-based investment strategies, it's important to know that "owner-occupied homes in black neighborhoods are undervalued by $48,000 per home on average, amounting to $156 billion in cumulative losses" ("The devaluation of assets in black neighborhoods" by Andre M. Perry, Jonathan Rothwell, and David Harshbarger/Brookings Institution).

Mortgage lending discrimination

Racial discrimination in home lending in Chicago was shown to be happening in 1974, when community activists (including Organization for a Better Austin, National People's Action, Contract Buyers League, with assistance from the Center for Urban Affairs at Northwestern University) demanded disclosure, and "after several years of meetings, picketing, and direct action protests by the NPA, the Federal Home Loan Bank Board of Chicago gave in. [They] agreed to provide the NPA with data on selected loans by zip code for the years 1971-1973" ("Family Properties" by Beryl Satter).

In December 1974, a State of Illinois commission reported that "the extent of redlining is impossible to determine, altho [sic] there is substantial evidence that it exists", according to the Chicago Tribune. "The commission...also urged legislation requiring financial institutions to disclose savings and lending data." Gail Cincotta was a primary activist, and a member of the commission. The Tribune reporter Cincotta saying, "Without disclosure we will never know the full extent of redlining and will be unable to effectively monitor financial institutions."

Chicago adopted a mortgage disclosure ordinance on June 26, 1974, that required all banks that held the city's deposits to disclose the location and types of loans they issue (44th Ward Alder Dick Simpson originally introduced the ordinance). This preceded the national Home Mortgage Disclosure Act (HMDA), which provides the data on this page, that was adopted in 1975 (it took effect in 1976).

  • The New York Times found that some Census tracts are "diversifying" because new homeowners are overwhelmingly white (2019)

Source: We are using Home Mortgage Disclosure Act (HMDA) data that WBEZ and City Bureau assembled.

Additional resources

Small business loan data

The institutions report their qualifying loans in an examination to the Office of the Comptroller of the Currency (OCC), Federal Reserve Board (FRB), and the Federal Deposit Insurance Corporation (FDIC). The data, which we use here, is distributed by the the Federal Financial Institutions Examination Council (FFIEC).

These reports are made subject to the Community Reinvestment Act, which Congress passed in 1977.

Reading

Sources

Demographic information

Demographic information is estimated data based on a sample of the population, taken as part of the annual American Community Survey conducted by the U.S. Census Bureau. In areas with lower populations, the margins of error will be higher. Review the data on Census Reporter to understand the margins of error for each individual Census tract.

* There are significant margins of error within each Census tract. Our method of adding up the number of people within each Census tract in this Place can compound this sampling error. If using this for a report that requires more rigorous analysis, please consult the source data.

Links

Dive into Census data

3 Census tracts analyzed

The United States Census Bureau collects information about people and aggregates it to the "tract" level. In Chicago, a tract is a small area within a neighborhood that is bordered by roads and rivers, and it's the smallest area the Census Bureau uses to provide the greatest amount of detail. Chicago Cityscape grabs data from all of the Census tracts that overlap a Place Snapshot so that you don't need to collect data about each individual tract that comprises a full neighborhood.

The 11-digit numbers below are in the "geoid" or FIPS code format. How to decode: 17 means Illinois, the following three digits indicate the county (031 means Cook County), and the remaining six numbers indicate the Census tract. Use the Cityscape Place Snapshot link to see our data in that tract, and the Census Reporter link to get additional demographic information. You can also click on the Census tracts in the map at the top to locate a specific tract.