LEASING INFORMATION

Thank you for your interest in our brand-new community, 508 Pershing! Our community will be home to 53 residences, ranging from 1 to 2-bedroom apartments, with rents made affordable to a wide variety of households with various income levels. We will begin accepting applications for on Monday, March 7, 2022. As the community is currently under construction, we are not currently conducting in-person tours. Virtual tours and renderings will be made available on our website. Homes will tentatively be available for initial occupancy in April. See below regarding rental information and how to apply!

 

 

Rent Information and Income Qualifications

 

• Minimum income standard (homes without rental assistance) is based on gross monthly household income being at least 2.5x the monthly rent. Minimum income limits do not apply if household receives mobile housing assistance (VASH, Section 8, MRVP, etc.).

 

• Maximum Income is based on the number of persons in the household. See below for details. Select homes are deemed “unrestricted”, market-rate homes which impose no maximum income restriction.

 

• Rental assistance available for 20 of the total 53 homes. Rents for these 20 homes will not exceed 30% of gross household income. These homes will be filled through referrals from the Chicago Housing Authority.

 

• See charts below for rental rates by income program as well as applicable income restrictions by household size.

 

 

Applying

 

• Applications will be made available and accepted as of March 7, 2022. You may obtain an application by giving us a call at 872-713-8100 | TTY: 711, emailing us at 508pershing@tcbinc.org or clicking on the "Apply Online" link at the bottom of this page to apply online (you can also download a paper application (link below), print and complete).

 

• Should you wish to submit a paper application, it must be completed and returned/mailed to our temporary management office at 3859 South Vincennes Road, Chicago, IL 60653 or emailed to us at 508pershing@tcbinc.org. Online applications are preferred.

 

• All applicants must be determined eligible in accordance with the Department of HUD regulations and must meet the family size requirements for a designated bedroom size (maximum of 2 persons per bedroom; minimum of 1 person per bedroom preference) as well as maximum income of all family members (please see our website for limits).

 

• Applications will be processed in order of receipt, on a first-come, first-served basis.

 

• For more information, language assistance, or reasonable accommodations for persons with disabilities please call 872-713-8100| TTY: 711 or email 508pershing@tcbinc.org.

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*Rental assistance available. Referrals made from the Chicago Housing Authority. Please contact your case worker for referral information.

 

 

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30% AMI Minimum Gross Annual Income By Bedroom Size: N/A

 

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60% AMI Minimum Gross Annual Income By Bedroom Size: 1 Bedroom – Rent: $874 ($25,320), 2 Bedroom – Rent: $1,044 ($31,320)

 

 

 

 

 

 

 

 

 

 

 

80% AMI Minimum Gross Annual Income By Bedroom Size: 1 Bedroom – Rent: $1,109 ($33,270),
 

       Unrestricted Market Income Restrictions

 

There are no Maximum income restrictions.

Market Rate Minimum Gross Annual Income By Bedroom Size: 1 Bedroom – Rent: $1,250 ($37,500), 2 Bedroom – Rent: $1,450 ($43,500)