Affordable Housing at Sky55 in Chicago

Eligibility Criteria

• Household must meet Resident Selection Criteria, including credit and criminal background screening.
• Applicant’s household size must be appropriate for the apartment (minimum of one per bedroom and maximum of two per bedroom plus one).
• Households must have gross income at or below 50% of the Area Medium Income for family size. See Chart below.
• Households must disclose all income and assets and asset income is included in the calculation of total household income. Assets in restricted retirement accounts (applicant cannot access the account without retiring or terminating employment) are not included in the calculation of total household assets.

Current Income Limits*

*HUD Income Limits (Income Limits are subject to change annually.)

• Rent is determined based on the income limits and unit size.
• All household members age 18 and over must sign a Tenant Income Certification (TIC), certifying that household composition, income, assets and other information contained on the TIC is true and accurate.
• All household members age 18 and over must sign a Lease Agreement, an Affordable Housing Program Lease Addendum outlining Program requirements, a VAWA addendum, and any other required move-in documentation.
• Recertification is required annually to determine continued eligibility. Household income may increase up to 140% of the current income limit adjusted for household size.