Colonial Park Apartments

748 Sharon Ave, Park City, IL 60085

Waiting List Forecast: Likely Short or None

check_circleVerified for 2021 by Lorena Bentley, Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	1 - 2 Beds	1 Bath	616 - 732 Sq Ft

Call (847) 662-1720

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.

At Colonial Park you will experience a wide variety of amenities and features. You will enjoy free heat, free high speed internet, in building washers and dryers, and an on-site fitness center with cardio and weights. Please drop by the office to check the current floorplan availability.

managed by The DeBruler Company

Dave's Thoughts On Colonial Park Apartments

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 Colonial Park Apartments 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. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections.

~ Dave Layfield, Founder of Affordable Housing Online

Colonial Park Apartments Amenities

Elevator
Fitness Center
Playground
BBQ and Picnic Area
On-Site Manager
Laundry Room
On-Site Parking
Garbage Disposal
Microwave
Cable Ready
Patio Deck Or Balcony
Refrigerator
On-Site Maintenance
High Speed Internet Access
Courtyard
Courtesy Patrol

Units at Colonial Park Apartments

Unit (Bd/Ba)	Ft²	Rent
One Bedroom (1/1)	616ft²	Call for Price^†
Two Bedroom (2/1)	732ft²	Call for Price^†

Income Qualification for Colonial Park Apartments

*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
50% AMI for LIHTC Units	$38,650 / year	$44,150 / year	$49,650 / year	$55,150 / year
50% AMI for PBRA Units	$38,650 / year	$44,150 / year	$49,650 / year	$55,150 / year
60% AMI for LIHTC Units	$46,380 / year	$52,980 / year	$59,580 / year	$66,180 / year

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

FAQs for Colonial Park Apartments

Does Colonial Park Apartments have a waiting list?

Colonial Park Apartments 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 Colonial Park Apartments?

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 Colonial Park Apartments, how many other affordable housing properties (and units) are there in Lake County?

In addition to Colonial Park Apartments, we list 163 other affordable properties in Lake County. Learn about these properties here. Our data research shows that there are a total of 7256 affordable units in Lake County.

Listings Near Colonial Park Apartments

^† Rent observations may change. We encourage users to verify rents and eligiblity requirements directly with the property.