News from CIC: Property Management Workshop, Recent Deals, and more
CIC is Moving!

CIC is currently located at 222 South Riverside Plaza, Suite 2200. As of June 2, we will move into a different suite in the same office building. Please update your records to reflect the change of address.

As of June 2, 2017:

Community Investment Corporation
222 South Riverside Plaza, Suite 380
Chicago, IL 60606  
Register for Property Management Training: 
Important Issues Affecting Illinois Landlords
 
In addition to our Property Management Training workshops, CIC offers single-topic sessions on important issues for property managers.  On May 25, CIC will offer a legal session, Important Issues Affecting Illinois Landlords, with presenter Wendy Durbin, Attorney, of Kovitz Shifrin Nesbit. The evening session will run from 6:30-8:30pm and costs $25. 

For more details and to register, check out the full Property Management Training schedule.
CIC has approved over $37 million in loans this year. Call a loan officer today and join our list of recent deals!
Recent Deals
 
A long-time CIC client received a $695,000 loan to refinance and rehab a 26 unit, three-story brick building in South Shore. The property was acquired from CIC's affiliate, Community Initiatives, Inc (CII). The distressed property will be rehabbed, preserving the affordable rental units.
 
Did you know that CII sells properties? See what properties are for sale now.
 
Transforming Housing LLC received a $2.4 million loan from CIC to refinance two properties with 36 units in Grand Boulevard. The two adjacent 18-unit brick walk-up buildings were rehabbed in 2009. Refinancing the existing HUD mortgage with CIC reduced administrative costs for the client.
 
A CIC client and part-time teacher received a $525,000 construction loan to rehab a two-story, 17-unit walk up on North Central Avenue in Austin. The property will receive new windows, an energy-efficient boiler, and a number of cosmetic repairs.
 
Adewer Properties LLC received a $261,000 acquisition/rehab loan for an 11-unit mixed-use property in Greater Grand Crossing. The property, with 8 residential and 3 commercial units, received a Flex loan from CIC. Under the Flex loan program, CIC can finance loans beyond the typical 80% loan-to-value requirement.
 
Joudeh Investments received $500,000 in financing from the 1-4 Unit Loan Program . The loan will refinance a portfolio of recently rehabbed properties, which includes two 3-flats, a 2-flat, and a single family home, with a total of nine units in North Lawndale. 

As Chicago's multifamily rehab lender, CIC offers comprehensive and flexible financing options to fit your project needs:
  • Purchase/rehab in the same loan
  • Cash out/Refi loans to expand your portfolio
  • Quick acquisition loans
  • 1-4 unit rental redevelopment loans (for investors)
  • Financing for energy retrofits
  • Competitive rates & terms
That's just the beginning.  Get personalized attention, specialized knowledge from experts in the field, and no-cost training and networking opportunities to make sure you reach your goals.


Contact us today - let's build together .
312.258.0070  |  lending@cicchicago.com  |  www.cicchicago.com
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