This month, the SSBA welcomed Robert (Bob) Tucker, President of Chicago Community Loan Fund (CCLF) to present at our monthly networking lunch. We are excited to learn more about CCLF's work in providing financing and support to revitalize low-to-moderate income communities, primarily the communities we work, invest in and manage on the south side of Chicago.
CCLF is a community development financial institution (CDFI) that provides affordable financing and technical assistance to projects benefiting low-to-moderate-income communities in the Chicago metropolitan area.
Since its inception, CCLF has had a significant impact on the Chicago metropolitan area. With over $389 million in loans provided and more than $2 billion in leveraged financing, CCLF has supported the creation and renovation of over 12,000 housing units, retained or created more than 7,800 jobs, and helped to develop more than 13 million square feet of nonprofit and commercial space. This includes a wide variety of projects, such as affordable housing, commercial real estate, nonprofit facilities, and social enterprises.
CCLF as a Flexible and Supportive Lender
One of CCLF's defining characteristics is its flexibility. As a "flexible lender," it offers customized solutions to meet the unique needs of developers in the community. CCLF is particularly committed to helping smaller developers and organizations that might not have access to traditional financing. It acts as a "go-to predevelopment/gap lender," providing crucial support for large-scale projects that are still in the planning stages.
In addition to financial assistance, CCLF also offers technical assistance to ensure that projects are sustainable and impactful.
Diverse Project Portfolio and Geographic Reach
CCLF finances a wide range of projects, each contributing to the overall revitalization of Chicago’s South Side. Some notable examples include :
Affordable Housing Developments
LUCHA-Tierra Linda
Aurora Revitalization
Commercial Projects
Chicago Prep Master Tenant LLC
United Yards
Community Facilities
Roseland Youth Center (You might have walked through this with us & CNI in January.)
Timeline Theatre Company.
Cooperative
Tudor Gables
Englewood Apartments
In addition, CCLF played a key role in the development of The Hatchery, a 67,000-square-foot food incubator that provides entrepreneurs in the food industry with the space, equipment, and resources they need to succeed. This innovative project is an example of how CCLF supports not just housing and commercial development but also social enterprises that provide job opportunities and promote economic growth.
Serving six counties in the Chicagoland area—Cook, DuPage, Kane, Lake, McHenry, and Will—CCLF is dedicated to expanding its reach and supporting projects that have a lasting positive impact on neighborhoods across the region.
The Broader Impact: Community Development in Action
The impact extends beyond the individual projects it finances. By providing access to capital and technical resources, CCLF is helping to foster a more equitable and sustainable future for the South Side. Its work is creating jobs, supporting small businesses, and ensuring that residents have access to affordable housing and vital community spaces.
As they continue their efforts, CCLF is helping to create a thriving ecosystem of development that is driven by the needs of every community served. The projects it supports are not only improving the physical infrastructure of neighborhoods but also enhancing the quality of life for those who live and work in these areas.
As the city continues to rebuild and reimagine its neighborhoods, CCLF remains a guiding force in creating communities that are not only sustainable but also thriving. For anyone committed to community development, CCLF’s work is a powerful reminder of the difference that responsible investment and support can make in underserved areas.
The SSBA provides a platform for organizations like CCLF to connect with builders and real estate professionals on Chicago's South Side. Our networking lunches are perfect opportunities for members to learn about financing options and community development initiatives from groups like CCLF.
Bình luận