Community Investment Corporation

What Community Investment Corporation does

Community Investment Corporation (CIC) is a Chicago-based nonprofit Community Development Financial Institution (CDFI) founded in 1974 to finance the acquisition, rehabilitation, and preservation of affordable rental housing in the Chicago metropolitan area. Over its 50-year history, CIC has deployed more than $1.8 billion across 2,830+ loans to finance 69,370+ affordable rental units, primarily serving small local developers, property owners, and neighborhood-specific developers in Chicago's South and West side communities who cannot access conventional bank financing.

CIC offers seven distinct core loan products—Multifamily Loans, Energy Retrofits, Mezzanine Debt, the Woodlawn Construction Loan Fund, SRO Preservation, TIF Purchase-Rehab, and the North Lawndale Impact Program—supplemented by programs including the City of Chicago's Troubled Buildings Initiative, Energy Savers, Targeted Redevelopment, and an Acquisitions Program. It also operates The Preservation Compact, a policy collaborative convening public and private stakeholders around affordable rental preservation, and runs a Property Management Training program delivered both online ($50) and in-person ($60) that has trained 1,500+ participants.

CIC's business model is a hybrid of a nonprofit lender and a community development intermediary. Revenue is generated through net interest income on a $300 million loan portfolio (with $55–$65 million in annual originations), origination and processing fees, modest training fees, and grants/philanthropic contributions from foundations (MacKenzie Scott, Steans Family Foundation), banks (JPMorgan Chase, Wells Fargo, Northern Trust), and government partners. The organization is capitalized by 45 Chicago-area financial institutions providing $390 million in long-term financing commitments. Under current President and CEO Stacie Young (appointed 2021), CIC maintains a sales-led, event-driven go-to-market built around the annual Neighborhood Forum, community partnerships, referrals, and direct outreach to SMB borrowers and landlords.

Name

Community Investment Corporation

Legal name

Community Investment Corporation

Website

https://cicchicago.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

11–50 employees

Short description

Community Investment Corporation (CIC) is a Chicago-based nonprofit CDFI founded in 1974 that provides acquisition, rehabilitation, and preservation financing for affordable rental housing, serving small local developers, property owners, and landlords across the Chicago metropolitan area.

Ownership category

akta.pro rank

Product category

Affordable Housing Lending

NAICS

Credit Unions (52213), Grantmaking and Giving Services (81321)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)

akta.pro secondary industry

Community Development & Neighborhood Revitalization (CDBG, Place-Based Initiatives) (BPAIANAE)

Keywords

• Affordable housing lending
• Multifamily financing
• Community development loans
• CDFI lending
• Rental housing preservation

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Loan Interest and Origination Fees: CIC generates revenue through interest on loans provided to small developers for acquisition, rehabilitation, and preservation of affordable rental housing. Loan origination and processing fees are also collected.
2. Property Management Training: CIC offers fee-based Property Management Training courses, both online self-paced ($50) and in-person workshops ($60 per person), providing education and certification for landlords and property managers.
3. Grants and Philanthropic Funding: As a nonprofit, CIC receives grants and donations to support operations and program development, including funding from foundations like MacKenzie Scott and government partnerships.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Community Investment Corporation is a Chicago-based nonprofit community development financial institution (CDFI) that provides flexible acquisition, rehabilitation, refinancing, and construction financing for affordable multifamily rental housing. It complements its lending with property management training, scholarship, and policy initiatives targeting small developers and underserved Chicago neighborhoods.

Product overview

Community Investment Corporation (CIC) is a Chicago-based nonprofit lender offering a comprehensive suite of financing products for affordable multifamily housing. The core offerings include seven distinct loan products (Multifamily Loans, Energy Retrofits, Mezzanine Debt, Woodlawn Construction Loan Fund, SRO Preservation, TIF Purchase-Rehab, and North Lawndale Impact Program) designed to finance acquisition, rehabilitation, and preservation of affordable rental housing. These are complemented by educational and support programs including Property Management Training, the Troubled Buildings Initiative, Energy Savers, Targeted Redevelopment, and the Acquisitions Program. CIC also operates The Preservation Compact, a policy collaborative, and manages the CIC Scholarship for Future Leaders in Neighborhood Housing. The portfolio is delivered primarily through direct lending relationships rather than a technology platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Multifamily Loans Flexible financing for acquiring, rehabilitating, and refinancing multifamily buildings with five or more units, targeted at small local developers and property owners in Chicago.
• Energy Retrofits Financing to reduce operating costs through energy and water-saving retrofits for multifamily buildings, available to property owners of five-or-more-unit buildings.
• Mezzanine Debt Low-cost mezzanine debt product that enables equity to go further in high-cost markets for affordable housing developers.
• Woodlawn Construction Loan Fund Low-cost construction loans for local owner-developers to rehabilitate or build new homes in the Woodlawn community, delivered in partnership with the City of Chicago.
• SRO Preservation Construction loans and grant assistance to purchase and preserve Single-Room Occupancy (SRO) housing for vulnerable Chicago residents.
• TIF Purchase-Rehab Grants covering up to 50% of total development costs for eligible properties in designated TIF districts, supporting purchase and rehabilitation of affordable rental housing.
• North Lawndale Impact Program Low-cost financing to preserve and improve housing specifically in the North Lawndale neighborhood, delivered in partnership with Wintrust and the Steans Family Foundation.
• Property Management Training Signature workshop offered online and in-person that teaches landlords and property owners to market, manage, and maintain residential rental properties; certificates comply with City of Chicago, HUD, and lender requirements.
• CIC Scholarship for Future Leaders in Neighborhood Housing Graduate-level scholarship providing $10,000 one-year awards ($5,000 per semester, renewable up to five semesters) to students committed to careers in Chicago's multifamily housing industry, including shadowing and professional development with CIC.

Quantifiable outcome

• $1.8 billion deployed since 1974 preserving 69,370+ affordable rental housing units
• +3 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Marshall Bennett Institute of Real Estate at Roosevelt UniversitycoreStrategic or Co-development Partner · 1 January 2025CIC partnered with the Marshall Bennett Institute of Real Estate to establish the Scholarship for Future Leaders in Neighborhood Housing, providing $10,000 annual awards for graduate students committed to careers in Chicago's housing industry. The partnership includes professional development opportunities like shadowing CIC staff and attending CIC events.
• Koya PartnersminorImplementation/ SI/ Consulting Partner · 12 January 2021CIC retained Koya Partners, a leading executive search firm, to manage the search for a new President and CEO following Jack Markowski's retirement announcement.
• The Preservation CompactcoreStrategic or Co-development PartnerA policy collaborative convened by CIC dedicated to preserving affordable rental housing. The Compact drives strategies, develops resources, and coordinates public-private efforts to maintain affordability in the Chicago region.
• The Resurrection Project (TRP)coreStrategic or Co-development PartnerCIC served as lender and AHP sponsor for Casa de Sol, a 54-unit SRO building in Pilsen developed by The Resurrection Project. Featured in Federal Home Loan Bank of Chicago's 2019 annual report.
• City of ChicagocoreStrategic or Co-development PartnerCIC partners with the City of Chicago on multiple programs including the Woodlawn Construction Loan Fund, TIF Multifamily Purchase-Rehab Program, SRO Preservation Fund, and Troubled Buildings Initiative. The city has provided $5 million to leverage $25 million through the Opportunity Investment Fund.
• Community Initiatives, Inc. (CII)coreStrategic or Co-development PartnerThrough the Troubled Buildings Initiative, CII recovered 701 units in 2025 and made significant progress on stabilizing the 1,000-unit Heartland Housing portfolio in partnership with CIC.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Others

• The Resurrection Project: Chicago-based community development nonprofit that is both a CIC partner and borrower (e.g., Casa de Sol SRO in Pilsen). Not a competing lender, but a directly comparable community-rooted affordable housing developer in the same Chicago neighborhoods.

Direct peers

• Capital Impact Partners: National CDFI providing financing for affordable housing, health care, education, and community-owned real estate. Closely comparable product breadth (acquisition, construction, preservation) and mission-driven underwriting.
• Local Initiatives Support Corporation (LISC): National CDFI that finances affordable housing, community development, and small businesses, with a similar patient-capital model and lender + policy + technical assistance structure. LISC is the most direct large-scale peer, having also absorbed IFF, a Chicago-based CDFI.
• The Reinvestment Fund: Mid-Atlantic CDFI that finances affordable housing, community facilities, and real estate projects using a similar patient-capital model. Operates a comparable mix of structured loans, NMTC allocation, and policy work.
• Enterprise Community Partners: National CDFI and affordable housing intermediary that provides acquisition, construction, and preservation financing alongside policy and advisory services. Comparable mission, multi-product lending structure, and deep investor base.
• Low Income Investment Fund (LIIF): National CDFI financing affordable housing, early care and education, and community facilities. Comparable in combining direct lending with policy advocacy and a focus on serving borrowers underserved by mainstream banks.
• IFF (merged into LISC): Was a leading Chicago-based CDFI financing nonprofits and affordable housing developers before merging with LISC in 2020. Highly comparable in mission, product mix (acquisition, construction, predevelopment), and Chicago footprint during its independent years.
• National Housing Trust: National nonprofit that preserves and operates affordable rental housing, providing acquisition and predevelopment financing plus asset management. Direct peer on the preservation and small-developer segments of CIC's portfolio.
• Chicago Community Loan Fund: Chicago-based CDFI offering financing for affordable housing, charter schools, and community facilities. The closest local geographic peer, with overlapping South and West Side Chicago deal flow and similar target borrower segments.
• Mercy Loan Fund: National CDFI focused on affordable rental housing preservation and production, providing loans to mission-driven developers. Comparable borrower profile, preservation focus, and capital-stack layering approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/cicchicago
• LinkedInlinkedin.com/company/community-investment-corporation
• Instagraminstagram.com/cic_chicago
• Xx.com/cicchicago

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Community Investment Corporation