**CIC Secures $322 Million Commitment to Support Affordable Housing in Chicago**
Community Investment Corporation (CIC) has announced a landmark $322 million investment from 37 partner banks to bolster its loan pool, reinforcing its mission to support the acquisition and rehabilitation of affordable rental housing throughout the Chicago area.
This significant funding initiative is part of a larger effort by the city’s financial institutions to drive inclusive economic growth and enhance neighborhood stability. Over the next five years, the investment is expected to aid in revitalizing thousands of rental units, ensuring access to affordable housing for individuals and families.
Of the 37 participating institutions, five are legacy investors: BMO, Fifth Third, JPMorgan Chase, Northern Trust, and Providence Bank. Notably, small and local community banks make up the majority of investors, with 22 banks represented, while large national banks account for more than half of the total capital committed.
Since its launch in 1984, CIC’s loan pool has played a crucial role in preserving affordable housing, facilitating over $1.8 billion in loans and safeguarding more than 69,000 rental units—impacting the lives of approximately 166,000 residents.
In related news, the real estate and housing community is invited to attend the Connect Midwest Multifamily 2025 conference on June 4, 2025, at The Midland Hotel in Chicago, Illinois. Highlights of the event include the Lifetime Achievement Award presentation and a keynote interview with Greg Mutz, Chairman & CEO of Amli Residential Partners, LLC, interviewed by Fred Schreiber, Chief Operating Officer. Attendees will have the opportunity to engage in industry networking and learn from top executives shaping the future of multifamily real estate.
Don’t miss this essential event for professionals committed to strengthening the Midwest multifamily housing landscape.
