We are thrilled to announce our partnership with Inherent L3C, a local affordable modular home developer in Chicago. Inherent L3C is a new company formed by Tim Swanson in 2021 with a mission to transform lives, communities, and generations through affordable homeownership in Chicago’s underserved neighborhoods. Inherent L3C differentiates itself from many other local affordable home builders by providing additional support services for these first-home homebuyers. These services include five years of workmanship warranty, quarterly maintenance and support, home insurance, and monitored security system provided by ADT.
The relationship with Inherent started in 2022, when First Eagle Bank provided its first $240,000 loan to finance a 1,455 sq. ft, 3-bedroom, 2-bathroom modular home located at 647 N. Lawndale in Chicago’s Humboldt Park neighborhood. This home sold at an affordable price the same year to a new family that will begin their journey of building generational wealth through home ownership.
Since then, First Eagle Bank was able to provide additional financing for two additional side-by-side modular homes in Chicago’s Humboldt Park neighborhood.
These homes are constructed at their facility in North Lawndale and delivered on site by Inherent L3C with a goal to scale up and provide 24 high-quality and affordable homes in the East Garfield Park and Humboldt Park neighborhoods each year. These homes will play a key part in increasing homeownership and build generational wealth for the local community and its residents.
We are excited to be Inherent’s partner and play a key role in their mission. We are looking forward to a long-term relationship as we continue creating generational wealth in underserved Chicago communities through affordable and responsible homeownership.