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CIC to Raise $200M for Affordable Housing

CHICAGO—The nonprofit has funneled more than $1.2 billion toward the preservation of affordable housing since it was founded in 1984.

By Brian J. Rogal | Updated on July 31, 2014

CHICAGO—Officials from the Community Investment Corp. say they have begun raising $200 million which will finance the acquisition and rehab of affordable rental housing in Chicago over the next five years.

The Chicago-based CIC typically raises funds from an investor base of Chicago area banks. It has already received preliminary commitments from Chase, Northern Trust, BMO Harris Bank, PNC Bank, the Wintrust Financial Corp., the PrivateBank and MB Financial Bank. David Dykstra of Wintrust leads its campaign committee and they will continue to secure additional commitments.

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