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 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! 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

“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 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 are a husband and wife team that have together meticulously rehabbed and restored a 10-unit rental property in Bronzeville. As first-time CIC borrowers, Mr. Perkins and Ms. Hughes built on the investment knowledge they gained while undertaking several small projects before taking on this larger property in Bronzeville. Mr. Perkins’ […] Read More

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

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