Apartments

Apartment for you!

Apartment loan for you to invest in your future and your families future. Apartment financing by Communtiy Investment Corporation has been in business since 1974. We continue to receive funding support from the federal Community Development Finance Institution agency (nearly $2 million for CIC's third CDFI grant) and from IHDA and the City.

Communtiy Investment Corporation establishes Community Initiatives Inc., to administer the "Troubled Buildings Initiative," a joint Communtiy Investment Corporation/City of Chicago program targeting the worst buildings in a neighborhood with tools to convey the buildings to new owners who will rehab them with Communtiy Investment Corporation financing. As of the beginning of 2007 [staff pictured here with Mayor Daley], TBI had processed over 300 buildings with 5,600 units, with rehab either completed or in progress for another 170 buildings with 2,957 units.
 

• Construction and long-term loan in one process
• Expedited acquisition loans for experienced developers
• No payments during construction
• 20-year term, 25-year amortization
• Strong customer service, including expert construction advice
• For experienced developers, a line of credit
• Flexibility to finance more than 80% LTV with extensive rehab
• No prepayment penalty
• We close and service our own loan
• No legal fees at closing
• Take-out loans for buildings with an estimated completion date
• A tailored can do approach to every loan.
• Property Management

Communtiy Investment Corporation is a $550 million mortgage lender making a loan for you since 1984 for the acquisition and rehab of multifamily (5+ residental units) apartment buildings, including mixed-use buildings with a primary residential focus. Our very experienced staff specialize in difficult deals which require more personal attention than many banks are willing or able to offer. Our rates are competitive and, despite the current financial crisis, we DO have money to lend for reasonable deals. We also sometimes have multifamily apartment complex available to purchase.

Come visit us at  222 S. Riverside Plaza Chicago, Illinois 60606

(312) 258-0070

Whether or not you borrow or buy from us at Communtiy Investment Corporation, we offer property management training in locations throughout Chicago city and suburbs to help current (or prospective) owners and managers to better market, manage, maintain and develop apartment rental property.  Please see our website for the training schedule.

Our staff will provide expert financing advice as well as construction, closing and servicing assistance. We will help you and your family get into your dream apartment.