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

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

For the last nine years, these local developers have invested in multifamily and mixed-use properties in the Evanston submarket and the northside of Chicago. When looking to increase scale in another stable suburban area, they partnered with CIC and used its Mezzanine Debt loan product to refinance their existing property and purchase a second property […] Read More

Scientist, engineer, patent-holder, and now – rental housing owner and operator. Dr. Leon Stenneth keeps growing his long list of achievements. “I’m a scientist at heart,” says Mr. Stenneth, who works as an engineer in artificial intelligence. Over the course of his career, he has managed multiple teams and obtained over 100 patents related to […] Read More

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