Cornerstone Apartments is made possible with financing that encourages affordable housing. As a result, household income limitations do apply. If you intend to qualify for an affordable unit, you will be required to provide financial information evidencing household income.
The applicant must demonstrate a financial ability to pay his/her monthly contribution toward the rent of the unit.
Property Management will verify the amount and source of the applicant's income, assets, and expenses. The credit, criminal and eviction records of the applicant will be obtained through a credit reporting agency with service fees payable by the applicant.
Income Limits: The below income guidelines are set for all residents of affordable units. They reflect the current maximum amounts of household income for residents of affordable units and are updated on an annual basis. If your household income exceeds these guidelines, you are not eligible for residence in an affordable unit. It is impossible for us to bend, or give exception to, these guidelines. The Cornerstone Apartments have the legal responsibility to ensure that all affordable unit residents conform to them at time of move-in.
Area median income for Chicago Metropolitan region is used to set these income restrictions as designated by HUD. As of March 6, 2015 your gross annual income must be below the following at the time of financial certification at the time of lease signing.