July 19, 2024
Rockford Community Investment Fund unveils new home renovation | News

Their most recent renovation took place on Tatum Road. The Rockford Community Investment Fund has given out over 60 loans since starting last year.



Their most recent renovation took place on Tatum Road. The Rockford Community Investment Fund has given out over 60 loans since starting last year.



ROCKFORD — The Rockford Community Investment Fund is working to make improvements to homes across the city, specifically those in low to moderate income neighborhoods.







Rockford Community Investment Fund unveils new home renovation







Rockford Community Investment Fund unveils new home renovation

The fund was created by the Rockford Local Development Corporation and provides loans to contractors and investors looking to make the improvements.

Since starting last year, the fund has provided more than 60 loans to those community members working to make those improvements.

Tuesday they unveiled their newest renovation, home on Tatum Road. 

“With all the blighted communities in the area, this is just a great improvement in the neighborhood and I think it benefits everyone in the city,” neighbor Leslie West said. 

And a priority for the executive director behind the Rockford Community Investment Fund is keeping neighborhoods in good shape.

“There are a lot of blighted homes that need to be rehabbed. We’re trying to preserve the, preserve the neighborhoods. Keep them from getting into further disrepair,” Executive Director, Tom Sandquist said. 

Rockford Mayor Tom Mcnamara was at the unveiling Tuesday. He said he’s hoping more of these projects can bring a boom to the housing market.

“We need more homes on the market and we need more high-quality homes for home ownership and rental opportunities. And so, through the RCIF, this takes those distressed properties that really, they’re on the market but they’re not very attractive,” McNamara said. 


Housing inventory hit a new low in 2023, according to data provided by the North West Illinois Alliance of Realtors.

With these houses now being rehabilitated, this problem can only lessen, one Rockford realtor says.

“Because of the way the market is going, and I’m imagining in the next five years, these values are going to go even higher than that because it’s all about supply and demand. So, the higher the supply of usable property, the demand is going to go up,” Malcolm Payne said. 


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