Leodus Thomas Jr., a local developer and longstanding CIC borrower, recently celebrated the renovation of an 8-unit property in the Galewood neighborhood of Chicago. CIC had the honor to serve as a lender for this project which, in addition to providing much-needed affordable units, serves as an anchor corner lot property in the Galewood community. Before CIC’s involvement, our affiliate – Community Initiatives, Inc. (CII) – was an early partner, using the Troubled Building Initiative Condo Program to stabilize the building by providing immediate repairs.
CIC President and CEO Stacie Young joined Mr. Thomas and the Cook County Land Bank Authority at a ribbon cutting in April, alongside Cook County Board President Toni Preckwinkle, City of Chicago Department of Housing Commissioner Lissette Castaneda, 29th Ward Alderman Chris Taliaferro, and 1st District Cook County Commissioner Tara Stamps.
This project reflects CIC’s commitment to supporting small and local developers and improving neighborhoods. Thanks to the Cook County Land Bank Authority for their partnership on this project and congratulations to Leodus Thomas Jr. and everyone involved!
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