Chicago Residential Investment Fund
The Chicago Residential Investment Fund (CRIF) is a start-up nonprofit real estate investor established by the City of Chicago to build, own, and operate mixed-income multifamily housing. Capitalized with $130 million in funding, CRIF takes controlling equity positions in ground-up and substantial rehabilitation projects then holds them as long-term assets. Each development is designed to be environmentally sustainable, financially self-sustaining, and governed in partnership with its residents. CRIF's approach treats affordability as a core underwriting parameter with the objective of developing and operating high-quality housing that remains within reach of a broad range of Chicago households. As a start-up organization, CRIF is actively building the team, pipeline, and operating infrastructure that will carry the fund through its first decade of activity.