Chicago Community Capital Fund
Chicago Community Capital Fund is an innovative investment fund created to generate market rate returns for its investors, while making investments that produce long-term value for the larger community. By providing capital to an underserved market—housing affordable to working people in the Chicago metropolitan area—the Fund intends to earn robust economic returns and increase the supply of affordable housing. At the same time, the Fund’s investments promote community development, maximize efficient use of existing infrastructure, and draw previously excluded people and areas into the wealth creation process.
The cost of housing has increased significantly faster than personal incomes over the last several years, over-burdening the budgets of hundreds of thousands of moderate-income households and encouraging others to relocate to distant locales far from jobs and family. Chicago Community Capital Fund has identified opportunities to house these households affordably in once-thriving urban areas that offer sound housing stock and access to public transit, and in overlooked areas of desirable suburban communities. Historically, these opportunities have not been fully realized for lack of a consistent source of investment capital. Institutional investors have balked at unfamiliar locations and smaller transaction amounts; “friends and family” investors offered limited capacity.
Chicago Community Capital Fund addresses this market by providing a substantial, reliable and knowledgeable source of equity and mezzanine capital to qualified real estate operators pursuing viable business plans. The Fund is managed by Ansonia Capital, whose principals have invested in, developed and operated residential and mixed-use properties in Chicago and suburban infill locations since 1990. In total, the principals have successfully invested in and developed multi-family and commercial properties with an aggregate value in excess of $1.4 billion.