Nonprofit or community organization
Last modified: January 11, 2013, 10:23 PM
Community Investment Corporation (CIC) is a not-for-profit corporation, capitalized by investments from more than 30 financial institutions, with a mission to be the leading force in neighborhood revitalization through innovative financial programs. A leader in the preservation of affordable rental housing since 1984, CIC has originated more than $1 billion in loans for the acquisition and rehabilitation of more than 1,600 buildings with 45,000 units in the Chicago metropolitan area. CIC services a loan portfolio of $300 million and closes approximately 90 loans for $60 million per year. Our lending encourages other new investment and gives tenants, landlords and neighbors a renewed sense of pride and confidence in their neighborhood.
The preservation of affordable rental housing is CIC's core business. To further that objective, CIC recently assumed leadership of The Preservation Compact, a collaborative effort with a broad agenda to address the loss of affordable rental housing in Cook County .