Neighborhood Housing Services (NHS) is able to offer quality homes at affordable prices by partnering with the City of Chicago and federal programs which subsidize some of the costs associated with rehabilitating homes in Chicago. These programs (Asset Control Area 2, Chicago Homeownership Rehabilitation Initiative Program, Troubled Building Initiative II and the Lawndale Restoration) require purchasers to fall within designated income guidelines. Buyers wishing to submit an offer to purchase a NeighborHome must first provide proof of income.
Determining your position within the income guidelines is a quick process and is dependent upon your submission of the following complete documents:
• Application form
• Mortgage pre-approval letter on lender’s letterhead (if available)
• Household size affidavit and member list
• All household members over age 18 must provide:
o One month of recent pay stubs
o W-2s, 1099s or other proof of income for the last two years
o Signed tax returns for the last two years
o A no income affidavit (if household member earns no income)
Submit completed application to Bryan Esenberg, NeighborHomes Manager, via fax to (773) 329-4098 or mail to: NHS Redevelopment Corporation, 1279 N. Milwaukee Avenue, 5th Floor, Chicago, IL 60622
4 Easy Steps to Purchasing a NeighborHome
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Within 48 hours of receipt of your application and all required supporting documentation, NHS will inform you which NeighborHomes are available for you to purchase based on your position within the income guidelines. This notification will not proceed if your application is submitted without all necessary documents.
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Once you have received confirmation from our staff that you meet the HUD income guidelines, you are now ready to schedule a showing of the NeighborHome property(s) you are interested in purchasing. Once you decided on a home, you will need to submit the Offer to Purchase Real Estate Form in your Eligibility Packet, along with proof of financing (pre-approval letter) and the income notification letter issued by NHSRC to Rhonda Prichett via fax at (773) 329-4077. All purchase offers are considered on a weekly basis. The weekly offer period ends every Tuesday at 4 p.m.
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Upon confirmation that your offer to purchase has been accepted by NHSRC staff, you will have 48 hours to sign the sales contract and addenda. An earnest deposit of $1,000 per unit is required at contract signing. All buyers are also required to attend a HUD-certified homebuyers education class. NHS offers free classes at several of our neighborhood offices. Learn More...
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Within 45 days after contract signing, you will close on your NeighborHome. Please remember: you must be the owner-occupant of the NeighborHome you purchase throughout the required residency period (3-5 years depending upon the property).
For More Information
Contact Rhonda Prichett, Sales and Marketing, (773) 341-3177 or rprichett@nhschicago.org
Sept. 6, 2011 Sales List: Click on image to enlarge
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NHS RC has Apartments for Rent
NHS Redevelopment Corporation has several 1 & 2 bedroom rental units available in our multi-family buildings located in the East Garfield Park, Austin and West Humboldt communities.
Our one-bedrrom bedroom units rent from $595 - $615; 2 bedroom units rent from $650 - $775. Conveniently located by CTA Transit lines and less than 10 miles from the Chicago downtown area.
We offer the following amenities:
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On-Site maintenance
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Laundry Facilities
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New Appliances
Download Preliminary Rental Application
For More Information
Contact Bonita Thames, (773) 568-1020 or bthames@nhschicago.org
