Stay informed on the latest news from CIC and learn about upcoming events.
Featured News
CIC’s 2024 Annual Neighborhood Forum
Join CIC for an engaging discussion at our 2024 Neighborhood Forum! Make new connections with more than 200 developers, owners, managers, brokers, and lenders. Share knowledge and best practices for owning and operating neighborhood real estate while addressing the challenges of rising operational costs. The event includes a panel discussion followed by a networking reception. […] Read More
Just Closed: 33 Units in Des Plaines Funded with Low-Cost Mezzanine Debt
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
CIC Delivers $75 Million to Create and Preserve Affordable Rental Housing
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
CIC’s 2023 Annual Neighborhood Forum
We invite you to join us at the upcoming 2023 Neighborhood Forum hosted by the Community Investment Corporation (CIC) on May 23, 2023, at Malcolm X College. Our Neighborhood Forum is a significant event that brings together community members, industry professionals, and local owner-operators to discuss critical issues affecting the community’s economic development and growth. […] Read More
ComEd Selects CIC as a grant recipient of ComEd’s 2022 New Climate-Friendly Grant Assistance program 
Today ComEd announced CIC as one of three nonprofits selected to receive $450,000 from ComEd’s New Climate-Friendly Grant Assistance program. The grant was created to expand and improve access to climate-friendly programs across northern Illinois. Governmental reports show climate change disproportionally impacts under-resourced communities. CIC will use this funding to help small, local owner-operators to […] Read More
Just Closed: veteran CIC Borrowers Purchase Hyde Park Property Using Low-Cost Mezzanine Debt
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
Just Closed: Long-time CIC Borrowers Expand South Suburban Presence Using Low-Cost Mezzanine Debt
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
Dr. Leon Stenneth and the Science of Growing a Portfolio
Our Stories is an ongoing CIC initiative to showcase Black real estate professionals and their contributions to the affordable housing and community development industries. To submit your own story for inclusion in a future profile, email CIC at ourstories@cicchicago.com. Read more about this initiative here. Scientist, engineer, patent-holder, and now – rental housing owner and […] Read More
Q&A with Dunni Cosey Gay, Director of The Preservation Compact
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