North Avenue Redevleopment Elderly

2634 W North Ave, Chicago, IL 60647

Waiting List Forecast: Likely Short or None

check_circleVerified for 2024 by Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	Floorplan Info Upon Request	-	-

Waitlist Forecast

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.

Dave's Thoughts On North Avenue Redevleopment Elderly

Because North Avenue Redevleopment Elderly participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.

~ Dave Layfield, Founder of Affordable Housing Online

Income Qualification for North Avenue Redevleopment Elderly

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
50% AMI for LIHTC Units	$38,650 / year	$44,150 / year	$49,650 / year	$55,150 / year	$59,600 / year	$64,000 / year	$68,400 / year	$72,800 / year
50% AMI for PBRA Units	$38,650 / year	$44,150 / year	$49,650 / year	$55,150 / year	$59,600 / year	$64,000 / year	$68,400 / year	$72,800 / year
60% AMI for LIHTC Units	$46,380 / year	$52,980 / year	$59,580 / year	$66,180 / year	$71,520 / year	$76,800 / year	$82,080 / year	$87,360 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for North Avenue Redevleopment Elderly

Does North Avenue Redevleopment Elderly have a waiting list?

North Avenue Redevleopment Elderly 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 North Avenue Redevleopment Elderly?

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.

In addition to North Avenue Redevleopment Elderly, how many other affordable housing properties (and units) are there in Chicago?

In addition to North Avenue Redevleopment Elderly, we list 826 other affordable properties in Chicago. Learn about these properties here. Our data research shows that there are a total of 83861 affordable units in Chicago.

When was the North Avenue Redevleopment Elderly listing last updated?

North Avenue Redevleopment Elderly listing on Affordable Housing Online was last updated on 06/07/2024 by Joshua Cappell. Remember, a property's status can change so you should contact the property to confirm.