1212 Larkin Ave., Elgin, IL 60123
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio - 3 Beds | 1 - 2 Baths | 412 - 786 Sq Ft |
This property is currently under construction.
1212 Larkin is a proposed integrated permanent supportive housing project in Elgin, Illinois. The proposed development will consist of 48 units in 12 new-construction, multifamily apartment buildings, and the preservation and historic reuse of the former Larkin Center. It is targeted to serve populations with special needs, and working families, reaching a broad range of Elgin renters in need of affordable housing.
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 1212 Larkin 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) | 412ft2 | Call for Price† |
| One Bedroom (1/1) | 596ft2 | Call for Price† |
| Two Bedroom (2/1) | 786ft2 | Call for Price† |
| Three Bedroom (3/2) | 570ft2 | 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 1212 Larkin have a waiting list?
1212 Larkin 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 1212 Larkin?
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 1212 Larkin?
1212 Larkin is managed by Full Circle Communities Inc. headquartered in Chicago, Illinois.
In addition to 1212 Larkin, how many other affordable housing properties (and units) are there in Elgin?
In addition to 1212 Larkin, we list 24 other affordable properties in Elgin. Learn about these properties here. Our data research shows that there are a total of 1234 affordable units in Elgin.
When was the 1212 Larkin listing last updated?
1212 Larkin listing on Affordable Housing Online was last updated on 09/22/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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