In 1992, Cornerstone Investment Group began as a property management firm specializing in multi-unit apartment buildings and condominiums. Cornerstone’s first location on the north side of Chicago was in a storefront on Sheridan Road in Rogers Park. Cornerstone developed a reputation for taking troubled properties and turning them into successful homes and businesses that benefit the communities where they are located. We believed then, as we do now, that a blend of housing and development choices provides more than a good investment, it can transform neighborhoods.
The Howard Theatre is an example of this philosophy. It was a once beautiful terra cotta landmark that had been vacant for 25 years. Others had tried to redevelop the space but were unsuccessful. Cornerstone Investment Group was able to determine how to utilize portions of the old theatre space to make the project feasible. The adaptive mixed-use project received the “Facade of the Year” award from DevCorp in Rogers Park and now contains 40 apartment units and 15,000 square feet of retail space.
Cornerstone has applied this same skill and philosophy to numerous projects throughout the Chicagoland area and other secondary cities. Cornerstone has been successful in understanding and utilizing government options such as tax increment financing. An example of this expertise was the development The Havens, comprised of 99 single family homes on 87th Street and Parnell Avenue in Auburn Gresham. Prior to Cornerstone developing this land it had sat vacant for 50 years. It is now home to many Chicago teachers, police officers, fire fighters and others who desired new housing options located on the south side of the City.
Our development expertise includes projects financed through Low Income Housing Tax Credits, Tax Exempt Bonds, Tax Increment Funding Proceeds, Federal Home Dollars, Community Development Block Grants, various US Department of Housing and Urban Development Multi-Family programs and other sources of public subsidy, in addition to conventional debt and equity.
When we started in 1992 our Mission was to create a range of housing and commercial investments for people of all incomes, cultures and generations. That was our Mission then and it remains our Mission today.
Managing With Renters In Mind
Cornerstone’s property management group, now known as CIG Management, LLC has a proven track record in taking a promising building and turning it into a great place to live. Our properties contribute to making the communities where they are located stronger and more desirable.
With each rental property we take on we work diligently to ensure that our properties are renovated as needed to bring them up to modern standards so that our renters are both comfortable and satisfied. We also make sure to maintain the integrity of the original construction because there is history in the neighborhoods where our properties are located and we want to preserve that history.
We do our best to provide our renters with the best rental experience possible and we want our renters to be fully satisfied once they have made the decision to rent from CIG Management, LLC.
Contact us now to see what we have available in Rogers Park and in Hyde Park.