Stay informed on the latest news from CIC and learn about upcoming events.
Featured News
Just Closed: 33 Units in Des Plaines Funded with Low-Cost Mezzanine Debt
For the last nine years, these local developers have invested in multifamily and mixed-use properties in the Evanston submarket and the northside of Chicago. When looking to increase scale in another stable suburban area, they partnered with CIC and used its Mezzanine Debt loan product to refinance their existing property and purchase a second property […] Read More
Dr. Leon Stenneth and the Science of Growing a Portfolio
Our Stories is an ongoing CIC initiative to showcase Black real estate professionals and their contributions to the affordable housing and community development industries. To submit your own story for inclusion in a future profile, email CIC at ourstories@cicchicago.com. Read more about this initiative here. Scientist, engineer, patent-holder, and now – rental housing owner and […] Read More
CIC Delivers $75 Million to Create and Preserve Affordable Rental Housing
At a virtual meeting of its investor institutions, Community Investment Corporation (CIC) announced on Tuesday that it delivered $75 million in loans, grants, and other financial resources to acquire, rehab, and preserve over 2,700 units of affordable rental housing in FY 2021. CIC financed affordable apartments in 22 communities throughout the Chicago region but with […] Read More
Q&A with Dunni Cosey Gay, Director of The Preservation Compact
Q&A with Dunni Cosey Gay, Director of The Preservation Compact CIC is thrilled to welcome Dunni Cosey Gay as the new Director of The Preservation Compact. Dunni brings extensive experience in the public and nonprofit sectors, and most recently served as the Deputy Director of Communications for the Cook County Bureau of Economic Development. While […] Read More
New Property Tax Incentive Available for Multifamily Owners!
New Property Tax Incentive Available for Multifamily Owners! A new statewide property tax incentive for multifamily rental was recently signed into law by Governor Pritzker. This incentive was developed by The Preservation Compact and its many partners over a years-long process of convening partners across the housing industry, including nonprofit and neighborhood developers, SRO owners, affordable […] Read More
CIC Partnering with Wells Fargo Open for Business Fund to Help Chicago Small Businesses Impacted by COVID-19
“Small rental housing providers are in many cases the backbone of a neighborhood and, like the tenants they serve, these entrepreneurs have been hard hit by the pandemic.” Stacie Young, CIC President and CEO Wells Fargo recently announced that it has awarded grants to five Chicago nonprofit organizations and Community Development Financial Institutions (CDFIs) – […] Read More
Property Tax Incentives Webinar, Sept. 23
Property Tax Incentives Live Virtual Event Thursday, September 23, 12pm (free registration) A new statewide property tax incentive for multifamily rental was recently signed into law by Governor Pritzker. The program is launching early next year and you may be eligible to receive as much as a 35% reduction in your assessed value! This groundbreaking […] Read More
Marcus Perkins and Tracy Hughes: Persistence and Patience the Keys to Success for Husband and Wife Development Team
Our Stories is an ongoing CIC initiative to showcase Black real estate professionals and their contributions to the affordable housing and community development industries. To submit your own story for inclusion in a future profile, email CIC at ourstories@cicchicago.com. Read more about this initiative here. Marcus Perkins and Tracy Hughes are a husband and wife […] Read More
CIC Names Stacie Young New President and CEO
Community Investment Corporation (CIC) is pleased to announce that it has appointed Stacie Young as the organization’s new president and chief executive officer, becoming the fourth president in the 37-year history of Chicago’s leading multifamily rehab lender. Young, a veteran affordable housing advocate who has led The Preservation Compact for the past 11 years, will […] Read More