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Building Best-in-Class Homes in Woodlawn 

Bill Williams knows what it means to search for stable, quality housing. Growing up in Chicago, his family moved frequently, living in neighborhoods from North Lawndale to Wicker Park, Humboldt Park, Edgewater, and Woodlawn. Each move was driven by the same need: to find affordable housing that was safe and reliable. Those early experiences shaped Bill’s perspective and laid the foundation for the work he does today. 

That perspective is what drives his current project at 6216–18 South Woodlawn, a development that is part of a 30-unit, mixed-income strategy to bring new life to the neighborhood through townhomes, condos, and single-family homes. 

“Woodlawn has everything,” Bill explained. “It has education, employment, transportation, the lakefront, even Jackson Park and the Museum of Science and Industry. The fundamentals of real estate are there—it just needs people.” 

Bill’s philosophy is straightforward: build best-in-class housing that he would be proud to live in himself. Even his affordable projects are constructed with condo-quality finishes, because he believes that every resident deserves quality and dignity in their home. “I always ask myself, would I live here? And the answer has to be yes,” he said. 

A Chicago native with training in finance and economics, Bill began his career at LaSalle Bank before leaving to pursue development full time. Over the years, he has built a portfolio of roughly 60 rental units and completed 15 to 20 ground-up projects. 

When it came time to finance 6216–18 South Woodlawn, Bill turned to CIC, an organization he first encountered nearly two decades ago at a multifamily training led by CIC Senior Loan Officer Anthony Hawthorne. “The training classes actually worked,” Bill said. “That was my first touchpoint with CIC.” 

Since then, CIC has become a trusted partner in his work. “CIC has been a great partner and one of the leading CDFIs I’ve worked with,” he shared. “They bring sophistication and expertise to multifamily lending. They understand the business, and that makes them a true value add.” 

In a community like Woodlawn, where some blocks remain underinvested while other areas are experiencing pressure from rising values, a diverse real estate strategy is needed. In this case, CIC supported Bill’s project with construction financing and equity. In other cases, CIC works to preserve affordability through specialty products including mezzanine debt and the Woodlawn Construction Loan Fund. 

For Bill, the most rewarding part of development is seeing a vision come to life and create lasting value for communities. In Woodlawn, his work is already making an impact. “Neighbors are seeing appreciation in their property values for the first time in decades. That creates wealth not just for investors, but for the community as a whole,” Bill said. 

Looking ahead, Bill has no plans to slow down. He is firmly in growth mode, with plans to add 60 more affordable units in Woodlawn, along with market-rate housing to balance the neighborhood and attract new investment. His approach is rooted in a belief that strong communities require both affordability and income diversity. 

“CIC is an expert in their field. Their expertise helps us structure deals that deliver the best results. Having a partner with that kind of knowledge and willingness to collaborate makes all the difference. CIC is a true value add.” 

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