Wisdom Village Northlake, located at 33 S Wolf Rd in Northlake, has one and two bedroom apartments. Wisdom Village Northlake participates in the Low-Income Housing Tax Credit (LIHTC) and HOME Investment Partnerships Program programs.
The Wisdom Village Northlake waiting list is currently closed until further notice.Last updated on October 10th, 2019
|1 Bedroom (1/1)||-||Income Based|
|2 Bedroom (2/1)||-||Income Based|
Wisdom Village of Northlake is privately owned and operated. Residents of this development are required to pay 30% of their income in rent while the HACC subsidizes the remainder. Wisdom Village of Northlake, a new construction of senior housing with one and two bedroom units, applicants MUST be 55 years of age or older and have income that does not exceed 50% of the Area Medium Income (AMI). Preference will be given to applicants who are currently on the HACC’s wait list.
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.
This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.
Wisdom Village Northlake is managed by Housing Authority of Cook County.