A Message From Stacie Young, CIC President & CEO
I am delighted to share that this year marks a significant milestone for CIC as we celebrate our 50th anniversary! Over the past five decades, CIC has delivered on our commitment to preserve affordable rental housing and revitalize neighborhoods. This year marks a unique moment to reflect back on our impact, and look forward to our next chapter.
Our theme this year - Building on a Legacy – honors our history and acknowledges the important work and partnerships that lie ahead. I hope you join us for our year-long celebration; stay tuned for more details about our upcoming programming and signature events.
Most importantly – we want to celebrate you!
Your story matters to us. We have many partners: Local multifamily owners and operators who provide stable and affordable units. Banking, philanthropic, and government partners. Community groups and advocates. Our Property Management Training graduates of past and present.
Because the CIC 50-year story includes ALL of our stories, I encourage you to share a reflection or two through this easy online questionnaire. Your responses may be featured in our 50th Anniversary newsletters, social media, and events throughout 2024!
In closing, the 50-year legacy that we are building on is one of impact and results.
It is in that spirit that I’m pleased to share our 2023 annual report, which highlights lending, program, and policy achievements and showcases the incredible work of CIC borrowers. Take a few minutes to learn more about Charlotte and Anthony Glipsie, new CIC borrowers who purchased their first South Shore multifamily rental property, and George Ortiz and Sheyla Padilla of GMO Properties, who brought high quality rental units and commercial space back to life in North Lawndale with CIC financing and City of Chicago Tax Increment Financings (TIF) grant dollars.
More 2023 key achievements include:
- $44.7 million preserved over 1,050 rental units
- 86% of units financed were affordable to households at or below 60% AMI
- 665 units were preserved through the City of Chicago Troubled Buildings Initiative, administered by CII
- 1,800 participants attended property management training workshops
- 577 units were preserved through the Preservation Compact’s Interagency Council
CIC’s impact over the past year, the last fifty, and the next fifty is thanks to our partners and all you do to support neighborhood rental housing throughout the Chicago region.
As partners, we look forward to celebrating our anniversary together – our impact, our stories and a promising future!
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