2908 - 2920 W. Roosevelt Rd., Chicago, IL 60612
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $970 per Month† | Studio Bed | 1 Bath | 325 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.
Construction has reached the fifth and final floor at Rauner Family Veteran Studios, located at 2908 W Roosevelt Road in North Lawndale. Spearheaded by A Safe Haven Foundation in partnership with KMA Companies and the City of Chicago, the residential development contains 90 efficiency residences primarily designated for veterans.
75 of these units are reserved as permanent housing for Veteran Affairs Supportive voucher recipients. Of the remaining 15 units, 14 are set aside as subsidized housing by the Chicago Low Income Trust Fund, while one unit is market rate.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Rauner Family Veteran Studios does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | 325ft2 | $970† |
| 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.
Does Rauner Family Veteran Studios have a waiting list?
Rauner Family Veteran Studios 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 Rauner Family Veteran Studios?
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 Rauner Family Veteran Studios?
Rauner Family Veteran Studios is managed by KMA Property Management Services Inc. headquartered in Oak Forest, IL.
In addition to Rauner Family Veteran Studios, how many other affordable housing properties (and units) are there in Chicago?
In addition to Rauner Family Veteran Studios, 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 Rauner Family Veteran Studios listing last updated?
Rauner Family Veteran Studios listing on Affordable Housing Online was last updated on 03/06/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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