Olympic Village Apartments

31 Olympic Vlg, Chicago Heights, Illinois 60411

Olympic Village you’ll find beautiful maple cabinets, ceramic tile baths and energy efficient appliances to make your life comfortable and oh-so-pleasant. Coin operated laundry facilities. Air conditioning. This property offers a swimming pool, ample off street parking, private clubhouse. You can walk to shopping, dining, entertainment and public transportation.

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Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) 689-763 From $925 To $950
2 Bedroom (2/1) 898 $1,050
3 Bedroom (3/2) 1,097 $1,250

Olympic Village Apartments Details

  • 320 0, 0 and 0 bedroom units.
  • Water and Sewer utilities included in rent
  • Heat utility included in rent
  • Section 8 Project-Based Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Swimming pool
  • Heat Included

Unit Amenities

  • Walk-in Closet(s)
  • Water Included
  • Private Patio/Balcony

Nearby Amenities

  • Close to Dining
  • Close to Shopping
  • Close to Entertainment

Section 8 Project-Based Rental Assistance

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. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.

Low-Income Housing Tax Credit (LIHTC)

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.

Chicago Heights HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Chicago Heights but actual income limits may differ for units at Olympic Village Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $21,900 $25,000 $28,150 $31,250 $33,750 $37,190 $41,910 $46,630
50% $36,500 $41,700 $46,900 $52,100 $56,300 $60,450 $64,650 $68,800
80% $58,350 $66,700 $75,050 $83,350 $90,050 $96,700 $103,400 $110,050

Chicago Heights Low-Income Housing Tax Credit Income Limits

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 Chicago Heights but actual income limits may differ for units at Olympic Village Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $36,500 $41,700 $46,900 $52,100 $56,300 $60,450 $64,650 $68,800
Low Income (60%) $43,800 $50,040 $56,280 $62,520 $67,560 $72,540 $77,580 $82,560

Olympic Village Apartments is managed by Ludwig And Company.

Image of Olympic Village Apartments
Image of Olympic Village Apartments

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