Chicago’s ‘social bond’ program lets residents invest in neighborhood improvements

City crews plant a parkway tree in Chinatown in December, an activity expected to pick up substantially over the next five years because of a new bond sale. (Patrick L.Pyszka/City of Chicago)

The city of Chicago is conducting an experiment in the financial markets. It is giving everyday Chicagoans a chance to invest in and earn money from neighborhood improvements.

It’s a program that sounds tailor-made for die-hard city boosters. No longer do you have to just lobby for or cheer on municipal efforts to rehab dumpy buildings, increase supportive housing or bring something productive to vacant lots. Now you can earn a return from presumably good works, maybe in your neighborhood.