Stay informed on the latest news from CIC and learn about upcoming events.
Featured News
ComEd Selects CIC as a grant recipient of ComEd’s 2022 New Climate-Friendly Grant Assistance program 
Today ComEd announced CIC as one of three nonprofits selected to receive $450,000 from ComEd’s New Climate-Friendly Grant Assistance program. The grant was created to expand and improve access to climate-friendly programs across northern Illinois. Governmental reports show climate change disproportionally impacts under-resourced communities. CIC will use this funding to help small, local owner-operators to […] Read More
Just Closed: veteran CIC Borrowers Purchase Hyde Park Property Using Low-Cost Mezzanine Debt
Nautilus Investments was founded by Sandeep and Carolyn Sood in 2007. With a portfolio of roughly 190 units, the majority of which are located in the South Shore neighborhood, the Sood’s were looking to expand and purchase property in Hyde Park. The added equity from CIC’s Mezzanine Debt loan product enabled the Sood’s to purchase […] Read More
Just Closed: Long-time CIC Borrowers Expand South Suburban Presence Using Low-Cost Mezzanine Debt
For more than 30 years, these long-time CIC borrowers have operated and managed many properties in the Chicago area. Since first becoming borrowers of CIC’s multifamily program in 1992, they have returned for additional loans totaling over $9 million. Currently, the family business owns and manages 500 units in Edgewater, Rogers Park, Oak Park, and […] 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
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
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