CIC Celebrates 50 Years of Impact

Community Investment Corporation (CIC), a Chicago non-profit lender that finances the acquisition, rehabilitation, and preservation of affordable rental housing, celebrates fifty years of supporting neighborhood rental housing throughout the Chicago region.

Since its founding in 1974, CIC has deployed a total of $1.8 billion in funds to local owner-operators, resulting in the creation and preservation of more than 69,000 affordable rental units across six Illinois counties, primarily in Chicago’s South and West Sides. Recently, CIC received a $15 million unrestricted gift from philanthropist MacKenzie Scott to support the organization’s efforts.

“Revitalizing our unsubsidized, naturally occurring affordable rental housing–which comprises 70% of the affordable rentals here and across the country–hinges on the success of hundreds of small businesses who are dedicated to their communities,” said Stacie Young, President and CEO of CIC.