9.24.269.24.26

FOR IMMEDIATE RELEASE
September 22, 2026

MEDIA CONTACT
Kiera S. Ellis
Rise Strategy Group
kiera@risestrategygroup.com
815-277-6103

COMMUNITY INVESTMENT CORP. ANNOUNCES MORE THAN $22 MILLION IN LOAN
CLOSINGS AND GRANTS PRESERVING AFFORDABLE RENTAL HOUSING IN CHICAGO
Nonprofit Lender Releases New Lending Report

CHICAGO – Community Investment Corporation (CIC), a Chicago nonprofit lender that finances the acquisition, rehabilitation, and preservation of affordable rental housing, today reported strong lending activity for the first half of 2026, advancing its mission to preserve affordable housing and support neighborhood investment. CIC closed $22.6 million in loans and grants
during the first half of 2026, supporting the preservation of 278 residential units.

“Despite continued pressures on the housing market, we’re still seeing demand for our loans,” said Stacie Young, President and CEO of Community Investment Corporation. “That tell us that local, responsible owner-operators are able to buy and improve buildings in our neighborhoods, and we intend to keep showing up as the mission-driven partner that turns those buildings into affordable rentals for more Chicagoans.”

Lending Highlights Include:

● $22.6 million in total loans and grants closed as of June 30, 2026
● 278 residential units preserved
● 9 commercial units
● Three loans originated through the Woodlawn Construction Loan Fund, deploying $2.26 million in low-cost construction financing with $628,000 in planned property improvements across three developments.

CIC also closed a $1.5 million refi-rehab loan through its SRO Preservation Loan Program for Casa Hotel, a 53-unit Single-Room Occupancy (SRO) building located at 2008 S. Blue Island and owned by the Resurrection Project. The financing includes $300,000 in rehabilitation improvements.

CIC administers the SRO Preservation Loan Program, authorized under a Chicago City Council ordinance passed in April 2022. The program provides construction loans and grant assistance to purchase and preserve housing for some of Chicago’s most vulnerable residents, with a focus on SRO units that offer essential affordable housing. Under the program, CIC provides
construction loans to new buyers or existing owners of SRO housing. Units are subject to affordability restrictions for 15 years.

“The hardest part of this work isn’t finding the building, it’s finding a lender who will finance it,” said Dajuan Robinson, a CIC borrower. “CIC looked at the project and at me, not just a credit score. That’s what makes it possible for a small developer to build a portfolio instead of stopping at one building, and to keep putting quality, affordable units back on the market.”

CIC’s lending for the first half of 2026 covers the period from January 1, 2026, through June 30, 2026.

About Community Investment Corporation (CIC):
CIC is a 52-year-old not-for-profit Community Development Financial Institution (CDFI) organization dedicated to the preservation and creation of affordable housing in the Chicago area. Since its founding, CIC has provided innovative financial solutions to local owner-operators to strengthen neighborhoods and provide safe, affordable housing options for thousands of residents.

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