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Milwaukee Avenue Apartments – Chicago, IL

Full Circle Communities obtains tax credits for Milwaukee Avenue Apartments

  • Market study to meet Illinois Housing Development Authority requirements
  • 32-unit building for physically disabled, low-income adults leased up quickly and has a waiting list

Milwaukee Ave Apartments

Requirement

Full Circle Communities – a developer of housing for those with special needs – asked us to prepare a market study to support its application for tax credits for a 32-unit building on Milwaukee Avenue in the Avondale neighborhood on the northwest side of Chicago targeting low-income adults with physical disabilities.

The study needed to meet Illinois Housing Development Authority requirements and be delivered in a short timeframe in order to meet state deadlines.

Approach

With our extensive experience and expertise in this type of housing, we prepared a market study that met every requirement. As a result, the developer was successful in demonstrating the need and demand for this type of specialized housing in a neighborhood that was beginning to experience gentrification pressure.

Results

Not only did the property receive approval for tax credits, but the development leased up quickly and now has a waiting list for its units.

Milwaukee Ave Apartments
Milwaukee Ave Apartments
Related Projects: Affordable Housing, Chicago Metro, Developer

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Kretchmer Associates
807 Davis Street #2004
Evanston, Illinois 60201-7103
(847) 864-8895
vsk@kretchmerassociates.com

About Us

Founded in 1985, Kretchmer Associates is a certified WBE with expertise in all aspects of residential, retail, commercial, and industrial real estate analysis in the Chicago metro area and throughout the rest of Illinois, Indiana, Wisconsin, Iowa, Missouri, Kansas, Nebraska, and Minnesota.
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