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Featured News
CIC Selected as Recipient Under MacKenzie Scott’s Giving Pledge
CIC is pleased to announce that it has been awarded a major unrestricted grant from philanthropist MacKenzie Scott to accelerate its work in providing credit and resources to support affordable rental housing and local building owners in Chicago. The $8 million gift represents the largest individual grant ever received in CIC’s 45 year history. “We […] Read More
Mayor Lightfoot and CIC Announce $330 Million Commitment for Affordable Rental Housing
Community Investment Corporation (CIC), Mayor Lori E. Lightfoot, and Department of Housing Commissioner Marisa Novara have announced a $330 million commitment from 40 investor banks to finance the acquisition and rehabilitation of 7,000 units of affordable rental housing over the next five years. In a news conference at a CIC-financed building in Chicago’s South Shore […] Read More
How to master the property management piece of your real estate investment portfolio
After years of teaching property management to investors, there’s one term that signals to Jessica Sivels that she’s got a lot of educating to do: “passive income.” When students walk in the door with a dream of mailbox money, she sets them straight. “They have to understand that it is hands-on,” the director of property […] Read More
Lending in the ‘New Normal’ Market
The way we live and work has completely changed over the past four months. Though we are still in the midst of a global pandemic, the need for high quality and affordable rental housing is as important as ever. CIC is open for business and ready to work with you on your next multifamily rental […] Read More
COVID-19 Resources for Building Owners and Tenants
We’re here to help. CIC and The Preservation Compact are working to compile relevant resources that may be helpful to building owners and tenants during the COVID-19 health pandemic. Along with our resources for tenants and owners, local and national housing stakeholders have compiled important resources and information for owners, tenants, and organizations about COVID-19. […] Read More
CIC, The Resurrection Project Featured in FHLB Chicago Annual Report
CIC was pleased to be featured in the Federal Home Loan Bank of Chicago’s 2019 annual report video, released in March 2020. The video showcased Casa de Sol, a 54-unit single room occupancy building in Pilsen developed by The Resurrection Project (TRP). CIC served as TRP’s lender and AHP sponsor for the project. Jack Markowksi […] Read More
Now more than ever, affordable housing is paramount
Jack Markowski, along with Mike Mini of Chicagoland Apartment Association and Bob Palmer of Housing Action Illinois, co-authored an op-ed published in Crain’s Business Chicago. The op-ed advocated for $100 billion in rental subsidies, which “would help the entire economy recover from the damage caused by the COVID-19 pandemic and create a much more just, […] Read More
Lightfoot Unveils Proposed Affordable Housing Ordinance in Letter to Woodlawn Residents
In February, the City of Chicago announced its plans to develop and preserve affordable housing in the Woodlawn community. One component of the plan would create the Woodlawn Loan fund, to be administered by CIC. This fund would establish a $7 million fund for developers rehabbing homes in Woodlawn.
City nabbing land near Obama Presidential Center
Crain’s Business Chicago recently covered Community Initiatives, Inc. (CII) acquisition of vacant lots in Woodlawn. Jonah Hess, Director of CII, was interviewed for the story. At the request of the City, CII purchased seven vacant lots on East 63rd Street at a bankruptcy auction, for eventual transfer to the City of Chicago to promote its […] Read More