3414 W Diversey Ave, Chicago, IL 60647
Waiting List Forecast: Likely Short or None
Verified for 2023 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 Bath | - |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Hairpin Lofts is a 28-unit, 6-story, flat-iron landmark building in Chicago’s Logan Square neighborhood at the six-corner intersection of Milwaukee, Kimball and Diversey. Built in 1930, the building has been accurately and totally restored to reflect the unique architectural style of the era. Loft units are located on four floors above retail stores and the Hairpin Arts Center.
Lofts range from 650 square-foot, one bedroom, one bath units to 1,005 square-foot, two bedroom, one bath units. Hairpin Lofts’ address in the heart of the highly popular Logan Square neighborhood, is the perfect live/work residence for local artists and for workforce residents at very affordable rents.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Hairpin Lofts Apartments does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | - | Call for Price† |
| Two Bedroom (2/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $38,650 / year | $44,150 / year | $49,650 / year | $55,150 / year |
| 50% AMI for PBRA Units | $38,650 / year | $44,150 / year | $49,650 / year | $55,150 / year |
| 60% AMI for LIHTC Units | $46,380 / year | $52,980 / year | $59,580 / year | $66,180 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Hairpin Lofts Apartments have a waiting list?
Hairpin Lofts Apartments probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Hairpin Lofts Apartments?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Hairpin Lofts Apartments?
Hairpin Lofts Apartments is managed by Brineshore Development headquartered in Northbrook, Illinois .
In addition to Hairpin Lofts Apartments, how many other affordable housing properties (and units) are there in Chicago?
In addition to Hairpin Lofts Apartments, we list 763 other affordable properties in Chicago. Learn about these properties here. Our data research shows that there are a total of 83842 affordable units in Chicago.
When was the Hairpin Lofts Apartments listing last updated?
Hairpin Lofts Apartments listing on Affordable Housing Online was last updated on 01/02/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
4500 N Clarendon Ave, Chicago, Illinois 60640
1330 W 78th St, Chicago, Illinois 60620
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