Additional CIC Borrower Success Stories

Wally Aiyash and John Bozonelos

The property on Indian Trail Road in Aurora, Illinois was showing the effect of poor management and maintenance when Wally Aiyash and his partner, John Bozonelos, came to CIC for acquisition and rehab financing. With a CIC loan, the partners were able to turn the building around. The exteriors of the nine brick and vinyl sided buildings needed refurbishing, and the interior of the 62 units suffered from poor maintenance and tenant selection. Aiyash instituted strict controls over who could stay in the units, and drug dealers and other problem tenants were evicted. New fencing was installed to limit access to the grounds and buildings. The exteriors of the units were painted and new landscaping was installed.

The end result was improved buildings with a new and better tenancy. Formerly a source of major concern to Aurora, this property has now become a highly desirable place to live.