Mezzanine Debt (Opportunity Investment Fund)
CIC now offers low-cost mezzanine debt for rental buildings in high-cost markets. To get started, call (312) 258-0070 and speak with a CIC loan officer.
Up to 90% combined loan to value
10 year, interest-only loan (for mezzanine debt)
7.5% interest rate
No prepayment penalty
Maintain affordability in 20% of the units for a 15-year term, and can use available rental subsidies for the affordable units
Available in the City of Chicago and suburbs
Available to both for-profit and non-profit developers
* Above terms represent a typical mezzanine debt/OIF loan. Please talk to a CIC loan officer to discuss specific terms
This financing tool is intended for the purchase of existing, functioning rental buildings in high-cost Chicago markets. Owners could also refinance their existing portfolio if they enter into the minimum 15-year affordability.
To contact a CIC loan officer, call (312) 258-0070 or email firstname.lastname@example.org.