Martin Luther King Jr. Plaza Apartments

3220 W Madison St, Chicago, Illinois 60624

Family apartment community offering two (2), three (3) and four (4) bedroom units. Income restrictions apply.

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Waiting List is Open Now

The Martin Luther King Jr. Plaza Apartments waiting list is open until further notice.

Last updated on October 23rd, 2019

Units

Unit (Bd/Ba) Ft2 Rent
2 Bedroom (2/1) - Call for Price
3 Bedroom (3/1) - Call for Price
4 Bedroom (4/2) - Call for Price

Martin Luther King Jr. Plaza Apartments Details

  • 138 2, 3 and 4 bedroom units.
  • Section 8 Project-Based Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)
  • Family Self-Sufficiency

Property Amenities

  • On-Site Parking

Unit Amenities

  • Refrigerator

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.

Family Self-Sufficiency

The local public housing authority provides services to help families receiving housing through the Housing Choice Voucher program, public housing, or Section 8 Project-Based Rental Assistance achieve economic independence and reduce dependence on welfare assistance and rental subsidies.

Chicago 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 but actual income limits may differ for units at Martin Luther King Jr. Plaza 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

Martin Luther King Jr. Plaza Apartments is managed by Evergreen Real Estate Group.

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