Community Investment Corporation (CIC)

Description

We have money to lend at Community Investment Corporation!

CIC is a $550 million mortgage lender making loans since 1984 for the acquisition and rehab of multifamily (5+ residential 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 properties available to purchase.

Whether or not you borrow or buy from us, 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.

At CIC we make it a point to be "user-friendly" for both the new or the experienced multifamily borrower. Our modern office is conveniently located above Chicago Union Station, on Adams Street just west of the Chicago River. Come visit us!

Price Information:

Flexibility to finance more than 80% LTV with extensive rehab
No legal fees at closing
For experienced developers, a line of credit
No payments during construction
No prepayment penalty for ARMs


Community Investment Corporation is a Pooled-Risk Mortgage Lender Specializing in Multifamily Rehab in Lowerincome Neighborhoods. Favorable Rates, Unique Loan Products and Prompt Attention By Experienced Staff Mean Cic Can Make Loans That Others Cannot.

General

Language Spanish Speaking Polish Speaking Services •20-year term, 25-year amortization •A tailored, "can-do" approach to every loan. •Construction and long-term loan in one process •Expedited acquisition loans for experienced developers •Flexibility to finance more than 80% LTV with extensive rehab •For experienced developers, a line of credit •No legal fees at closing •No payments during construction •NO prepayment penalty for ARMs •Strong customer service, including expert construction advice •Take-out loans for buildings with estimated completion date •We *close and service* our own loans We can strengthen your bottom line 12 ways:

Products •Apartment buildings for sale, when available •Construction and permanent financing in one process •Construction and underwriting assistance far beyond typical lenders •Energy Savers Fund saves you money, features loans at half of prime •Flex Fund loans can allow quick acquisition, flexible underwriting •Property Management Training; over 5000 owners/mgrs. have attended •Standard 80% 3- or 5-Year ARM Loans: 20-year term, 25-year amortization •Take-out Loans for buildings with an estimated completion date •We don't have formulas; every deal is "organic" and different... just like you! •Working-capital loans with 6-month to 10-year terms for small owners Details Awards & Certifications: Community Develoment Financial Institution (CDFI), US Department of the Treasury Established in 1984 Number of Employees: 36 Number of Locations: 1

Service Area

Serving: Chicago IL, Chicago and Near Vicinity, IL (Metro)

Business Owners

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