CIC and Energy Savers Featured at Retrofit Conference 2017

Did you know that a typical investment of $3,000 per unit made by a borrower under CIC's Energy Savers program saves 25 to 30 percent on energy bills? 

Earlier this month, CIC Director of Lending Jack Crane joined fellow financing experts at Retrofit Magazine's inaugural confere nce to share how CIC's Energy Savers program benefits the building owner, the resident, and the bottom line.  Click here   to view the presentation. 

Property Management Training Opportunities

Well managed buildings are good for their tenants, their community, and their owners. CIC's Property Management Training gives owners and managers the tools to succeed. Classes are taught by experienced attorneys, fair housing experts, and real estate tax specialists. Register for The Basics of Residential Property Management, offered at the following times: 

9am - 5pm Chicago Theological Seminary
6pm - 9pm Prairie State College
9am - 5pm University Center

Class 9 Status Appeals Due November 17

The Preservation Compact, CIC's policy collaborative working to preserve rental housing in Cook County, hosted over 65 property owners and managers at an October 24 workshop to address questions about Class 9 property tax status appeals.

Many multifamily rental owners saw 2017 assessments increase significantly when the Cook County Assessor's Office changed their Class 9 to Class 3. If you are looking to appeal your Class 9 property tax status, click here for detailed steps. Class 9 appeals are due to the Assessors Office on November 17. 

CIC has approved more than $59 million in loans this year. 
Contact a loan officer today and let us finance your deal. 
Recent Deals
A long time CIC borrower and resident of the Austin community was approved for a $399,000 refinance-rehab loan to improve his existing 7-unit apartment building in Austin and to provide the equity required to purchase a nearby 10-unit property. This borrower has helped to stabilize the Austin community by owning and operating a number of high quality small apartment buildings, and this financing will allow him to expand his portfolio.  

An entrepreneur with a growing rental portfolio received a $379,770 rehab loan, including $40,000 in energy work, to fully rehab and reoccupy a six-flat building in the Woodlawn community. Vacant at the time of the borrower's purchase, this rehab will help to stabilize the block and complement the significant public and private investment occurring in the neighborhood.

An experienced local developer received a $2.8 million loan to purchase and rehab a portfolio of five buildings with a total of 54 units in the Englewood community. The property was initially secured and stabilized by Community Initiatives Inc., CIC's affiliate that addresses troubled buildings, before being purchased by the borrower who will fully rehab and reoccupy the property. 

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 .
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