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Featured News
Emergency Rental Assistance Now Available for Illinois Housing Providers and Tenants
If you are a struggling building owner or tenant – help is here! The Illinois Housing Development Authority (IHDA) and the City of Chicago have both opened the application periods for emergency rental assistance. The Preservation Compact convened partners at IHDA, Cook County, and the City of Chicago to coordinate information about their programs to […] Read More
Jeffrey Osuji: Building Community, Building Generational Wealth
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. Jeffrey Osuji has multiple entrepreneurial endeavors with one common goal: […] Read More
CIC Selected as Recipient Under MacKenzie Scott’s Giving Pledge
CIC is pleased to announce that it has been awarded a major unrestricted grant from philanthropist MacKenzie Scott to accelerate its work in providing credit and resources to support affordable rental housing and local building owners in Chicago. The $8 million gift represents the largest individual grant ever received in CIC’s 45 year history. “We […] Read More
How to master the property management piece of your real estate investment portfolio
After years of teaching property management to investors, there’s one term that signals to Jessica Sivels that she’s got a lot of educating to do: “passive income.” When students walk in the door with a dream of mailbox money, she sets them straight. “They have to understand that it is hands-on,” the director of property […] Read More
Now more than ever, affordable housing is paramount
Jack Markowski, along with Mike Mini of Chicagoland Apartment Association and Bob Palmer of Housing Action Illinois, co-authored an op-ed published in Crain’s Business Chicago. The op-ed advocated for $100 billion in rental subsidies, which “would help the entire economy recover from the damage caused by the COVID-19 pandemic and create a much more just, […] Read More
Lightfoot Unveils Proposed Affordable Housing Ordinance in Letter to Woodlawn Residents
In February, the City of Chicago announced its plans to develop and preserve affordable housing in the Woodlawn community. One component of the plan would create the Woodlawn Loan fund, to be administered by CIC. This fund would establish a $7 million fund for developers rehabbing homes in Woodlawn.
City nabbing land near Obama Presidential Center
Crain’s Business Chicago recently covered Community Initiatives, Inc. (CII) acquisition of vacant lots in Woodlawn. Jonah Hess, Director of CII, was interviewed for the story. At the request of the City, CII purchased seven vacant lots on East 63rd Street at a bankruptcy auction, for eventual transfer to the City of Chicago to promote its […] Read More
City of Detroit Creates New Partnership to Preserve Affordable Housing
CIC and The Preservation Compact are providing technical assistance to the City of Detroit and other partners to launch Detroit’s Preservation Partnership. The goal of this partnership is to guide and finance citywide housing renovation efforts while at the same time attempting to eliminate the risk of rent spikes and other increases. Stacie Young will […] Read More