Chicago’s Bold Bet on Shared Ownership
Community Desk Chicago pivoted in 2025 to launch Wealth Our Way (WOW)—a comprehensive shared ownership initiative designed to address decades of disinvestment in Chicago neighborhoods. WOW empowers residents to collectively own and control commercial real estate through community investment vehicles and worker co-ops. In its first round, the program awarded $2.7 million to six grantees, paired with technical wraparound coaching. Beyond the dollars deployed, CEO Ja’Net Defell points to something equally powerful: the momentum and hope rising in neighborhoods that finally have a path to revitalize vacant corridors, build collective wealth, and shape the quality of life they want to see.
