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About the Organization
The Chicago Residential Investment Fund (CRIF) is an independent Illinois nonprofit corporation authorized by City ordinance to spur the development of high-quality, low-carbon, permanently mixed-income multifamily housing. CRIF was established to address a persistent challenge in Chicago’s housing landscape. Many promising market-rate developments stall due to financing gaps, while publicly subsidized affordable housing development is limited due to inadequate financial resources and the need for ongoing recapitalization. CRIF exists to establish a “third way” of financing multifamily housing in Chicago: by partnering with private developers to move projects into construction and offering reliable, affordable capital in exchange for affordability, CRIF’s mission is to quickly and cost effectively bring more affordable and market-rate housing online throughout the City.
The Opportunity
Chicago has provided the capital and structure required to launch CRIF. The next step is rapid execution. Stakeholders expect CRIF to demonstrate early visible progress, including breaking ground on priority projects next year. As such, CRIF is seeking an entrepreneurial, technically skilled, and highly relational Chief Executive Officer to lead the organization from formation through its first generation of development, ownership, and asset management, and beyond. The CEO will be employee number one and will shape CRIF’s strategy, operations, and identity in the field. CRIF requires a CEO who is a builder and a real estate professional with practical experience in both market-rate and affordable housing. This leader will build the pipeline, evaluate deals, guide negotiations, and determine which projects should move forward.
Location, Compensation and Benefits
The CEO will be based in Chicago. The role requires regular in-person engagement with City partners, developers, investors, and community stakeholders. Compensation for this role is commensurate with experience, with an anticipated salary range of $180,000–$200,000, along with a comprehensive benefits package.
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