Indian Trail Apartments, located at 601 N Meadows Blvd in Addison, has one, two and three bedroom apartments. Indian Trail Apartments participates in the Low-Income Housing Tax Credit (LIHTC), Section 236 and Section 8 Project-Based Rental Assistance programs.
Currently accepting applications.Last updated on December 4th, 2018
|1 Bedroom (1/1)||950||Income Based|
|2 Bedroom (2/1)||1,216||Income Based|
|3 Bedroom (3/1)||1,234||Income Based|
Indian Trail Apartments offers 1, 2 and 3 bedroom apartment homes in an outstanding location just minutes from great shopping, dining, entertainment, O’Hare and downtown Chicago. Tucked away, but conveniently located close to major expressways (I-355, Rt. 53, I-290, I-90). The property boasts 11 acres of beautiful landscaping, playground, pool and 200 units wrapped around a peaceful, scenic pond.
These spacious apartments have been recently updated and feature individually controlled central heat and air conditioning, microwaves, dishwashers, gas stoves, and patio/balcony. Water, sewer, and trash removal are included in rent. Residents are responsible for electric and gas. They are pet-friendly, too! Affordable programs available; restrictions and income guidelines apply.
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
Apartment communities that participate in the Section 236 program are required to ensure that their units are only available to families with incomes at or below 80% of the area median income. Rents at participating communities must be approved by HUD.
Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Addison but actual income limits may differ for units at Indian Trail Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$31,200||$35,650||$40,100||$44,550||$48,150||$51,700||$55,250||$58,850|
|Low Income (60%)||$37,440||$42,780||$48,120||$53,460||$57,780||$62,040||$66,300||$70,620|
Indian Trail Apartments was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.
Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.
Indian Trail Apartments is managed by Evergreen Real Estate Group.