Shared-Ownership Business Projects Get 2 Million In 'Wealth Our Way' Grants

The City of Chicago has launched the Wealth Our Way grants, distributing over $2 million to six community-focused projects aimed at economic revitalization. Each initiative, including a worker cooperative manufacturing center and housing for young Black residents, received substantial funding to support shared-ownership models. Chicago Quilombo received $500,000 to transform a building into a community center and small business marketplace, while CrossTreats secured the same amount to develop a facility for nut-free snack food production. Community Desk Chicago will provide essential support to grantees in navigating permits and financing, fostering collaboration among the projects. The initiative highlights the Midwest's historical underfunding of co-ops and collectives, aiming to shift this trend.

Chicago Planning Commissioner Ciere Boatright emphasized the importance of these projects in activating underutilized spaces. A second round of grants is expected in late 2026, as Community Desk Chicago seeks additional funding to sustain the program. These efforts align with a national movement towards community-driven investment through shared-ownership models.