60% AMI Tier
Near South Side • Ward 207 ARO Units
South Loop Apts
1521 S. Wabash Ave., Chicago, IL 60605
South Loop Apts Map & Street Context
Coordinates: 41.8613, -87.6255 | ~15 min transit to Loop
Starting Estimated Rent
~$1100/mo
Save ~$1050/mo
Min 30x Rent Floor
$33,000
30x monthly total rent
1-Person Income Cap
$51,060
Statutory 60% Cap
2-Person Income Cap
$58,320
Combined gross income
Building & Leasing Details
- Management Company
- Mercy Housing Management Group
- Leasing Phone
- 312-239-3218
- Leasing Email
- Listed on Inquiry Form
- Official Management Website
- N/A
Source: City of Chicago Department of Housing public registry.
Required Application Documents
Per City of Chicago Department of Housing compliance guidelines, leasing agents must verify all items below before submitting your packet to the City.
- 3 Consecutive Months of Bank Statements: From all checking and savings accounts (must include CashApp and Venmo balances).
- Last 4–6 Consecutive Pay Stubs: Or Schedule C / 1099 bank deposit corroboration if self-employed.
- Student Status Affidavit: Full-time students must meet specific HUD family/marriage/foster care exceptions; part-time students qualify normally.
- Employer / HR Verification: Name, direct phone number, and official work email address.
Qualification Corridor
The 30x Rule Floor
You must earn at least $33,000/year (~$2750/month) to satisfy landlord rent-to-income requirements.
The Statutory AMI Ceiling
You cannot earn more than $51,060 (1 person) or $58,320 (2 persons) to qualify under city law.
Utilities & Fees
Water, sewer, gas, and trash are typically included. Mandatory internet or amenity charges ($50–$75/mo) are factored into the 30x rent floor calculation.
Back to Search
Explore other qualifying properties in Near South Side and across Chicago.
← Return to Chicago Directory