3859 S Vincennes Ave, Chicago, IL 60653
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 - 2 Baths | 715 - 1,502 Sq Ft |
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.
Oakwood Shores is 277 one, two, three, and four bedroom units located in Grand Boulevard and Oakland.
Oakwood Shores is approximately 94 acres located in Chicago's Grand Boulevard and Oakland communities, four miles south of the Loop and one third mile west of Lake Michigan. It is generally bound by 35th Street to the north, Lake Park Avenue to the east, Pershing Road to the south and Martin Luther King Jr. Drive to the west.
The site originally included more than 3,500 public housing units comprising the developments formerly known as Ida B. Wells, Madden Park, and Clarence Darrow Homes.
Construction of Oakwood Shores began in 2003 and will be completed over several phases. Three phases have been completed totaling 524 units of which 277 are CHA, 165 are affordable, and 145 are market rate. Upon completion Oakwood Shores will consist of 3,000 units of new rental and for-sale housing.
Because Oakwood Shores 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
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 715ft2 | Call for Price† |
| Two Bedroom Two Bath (2/2) | 1015ft2 | Call for Price† |
| Two Bedroom (2/1) | 874ft2 | Call for Price† |
| Three Bedroom (3/2) | 1502ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $38,650 / year | $44,150 / year | $49,650 / year | $55,150 / year | $59,600 / year | $64,000 / year |
| 50% AMI for PBRA Units | $38,650 / year | $44,150 / year | $49,650 / year | $55,150 / year | $59,600 / year | $64,000 / year |
| 60% AMI for LIHTC Units | $46,380 / year | $52,980 / year | $59,580 / year | $66,180 / year | $71,520 / year | $76,800 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Oakwood Shores have a waiting list?
Oakwood Shores 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 Oakwood Shores?
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 Oakwood Shores?
Oakwood Shores is managed by The Community Builders, Inc. headquartered in Boston
In addition to Oakwood Shores, how many other affordable housing properties (and units) are there in Chicago?
In addition to Oakwood Shores, 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 Oakwood Shores listing last updated?
Oakwood Shores listing on Affordable Housing Online was last updated on 03/08/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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