Archer Avenue Senior Residences

About This Building

Archer Avenue Senior Residences: An Affordable Housing Option in Chicago Introduction: Archer Avenue Senior Residences in Chicago, IL offers low-income housing options for individuals seeking affordable accommodations. Supported by the Low-Income Housing Tax Credit (LIHTC) program, these rental apartments come with specific rent and income restrictions. LIHTC Program: The LIHTC program encourages builders and developers to provide affordable housing to individuals with low income. The maximum rent charged at Archer Avenue Senior Residences is determined based on the Area Median Income (AMI). However, it is important to note that the AMI may render this apartment unaffordable for some low-income individuals. Determining Affordability: To assess whether Archer Avenue Senior Residences is a viable option, check the current rental rates. It is crucial to evaluate your financial circumstances in relation to these rates before making a decision. Apartment Details: Archer Avenue Senior Residences offers 55 low-income one and two bedroom apartments. As with most apartments nowadays, there may be waiting lists. However, we have provided their contact information so you can directly inquire about the possibility of applying and qualifying to live here. Important Consideration: LIHTC Units for Rent It is essential to consider the requirements of the Low-Income Tax Credit (LIHTC) program when applying for a rental unit. Ensure that the income from all adults expected to reside in the apartment is included and verified during the application process. Call for more details regarding this crucial aspect. Apartment Options at Archer Avenue Senior Residences: - 1 Bedroom Apartments: Discover the available 1 bedroom apartments at the location. - 2 Bedroom Apartments: Explore the array of 2 bedroom apartments at the residence. Conclusion: Archer Avenue Senior Residences presents an opportunity for low-income individuals to access affordable housing in Chicago. By understanding the LIHTC program and carefully evaluating your financial situation, you can determine whether these rental apartments align with your needs and budget. Contact Archer Avenue Senior Residences directly for further assistance and information.