Chicago & Midwest + South Side + Finance | March 6, 2023

Chicago Treasurer’s Office Partners to Invest in Lower-Middle Income Loan Programs

Through a public-private partnership between the Chicago City Treasurer’s Office and R. Seelaus & Co., Inc., a full-service investment and asset management firm, new capital has been invested in Freddie Mac and Fannie Mae that will make mortgages for single-family homes more accessible in the city’s South and West Side neighborhoods.

The City Treasurer’s Office has initially invested $7 million, with a commitment to invest a total of $25 million within the first quarter of 2023, in partnership with R. Seelaus & Co. Chicago Treasurer Melissa-Conyears said, “Access to homeownership is both a cornerstone to lift marginalized neighborhoods and a critical tool for building long-term wealth, and a more equitable future.”

The initiative began in late January 2023, with the Treasurer Office’s initial investment from cash holdings to lower-middle income loan programs under-written by Freddie Mac and Fannie Mae and exclusive to Chicago residents.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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