June 30

Chase Investment Leverages $27.7 million and 600 Renovated Units

In just three years, three local non-profit lenders leveraged $5 million into $27.7 million to revitalize nearly 600 deteriorating single-family homes and two-flats in distressed Chicago area neighborhoods – and they stand ready to do more.
In the wake of the 2008 housing crash, vacant 1-4 unit buildings in the area’s hardest hit communities threatened to drag down entire blocks. To combat this threat, three area […]

June 26

Urgent Property Tax Alert – Class 9 Properties

All Class 9 Property Owners,
It has come to our attention that many Class 9 properties have been changed to Class 3 status. This has SIGNIFICANTLY increased their assessed values – some values have doubled or tripled. According to the Assessor’s Office, this change occurred because owners did not submit appropriate annual affidavits in 2015 and/or 2016. Even if you think you submitted these documents, please […]

June 1

Presbyterian Homes Project Wins ULI Vision Award: Affordable Housing Preserved on Chicago’s North Side

An underdog walked away with a prestigious 2017 Vision Award at the Urban Land Institute (ULI) Chicago’s 6th Annual Vision Awards on May 31st.
The ULI Chicago Vision Awards highlight creative developments and partnerships that have contributed to the growth of vibrant communities.
The Preservation Compact and the Chicago Housing Authority (CHA) accepted the award. The Compact coordinated efforts with developers, elected officials, and government agencies to […]

April 3

Preservation Spotlight

Chicago Metropolitan Housing Development Corporation (CMHDC) received a $2,835,000 loan from Community Investment Corporation (CIC) to acquire three properties with a total of 18 units in Albany Park. This will be part of CMHDC’s program to preserve affordable housing in a community with increasing rents.
The Preservation Compact and CIC are developing the Opportunity Investment Fund to provide additional financing to these types of projects […]

February 24

City of Chicago Announces Code Relief for Multifamily Rehabs

Preservation Compact partners BPI and Neighborhood Building Owners Alliance (NBOA) worked together to identify changes to the building code to generate real savings for multifamily rehabs. In response to our recommendations, the City of Chicago is providing administrative relief to allow flexible conduit on the electric side, as well as sensible relief on the energy code, lighting and ventilation. Follow these links to the […]

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