Tax Credit Apartments: 1, 2 & 3 Bedroom Apartments
HUD Apartments: 1 & 2 Bedroom Apartments
📍 General Information
Address: 216 West Forest Avenue, Suite 100, Round Lake, IL 60073
Phone: (847) 594-8294
Email: rosewood0001@res-mate.com
Office Hours: Monday – Friday, 8:00 AM – 5:00 PM
Office Closed Each Day Between 12:00PM and 2:00PM
🏡 Leasing & Fees
Q: How much is the application fee?
A: The application fee is $35 (non-refundable, money order only).
Q: What is the security deposit?
A: Security deposits range from $250 – $500, depending on the program (HUD deposits may vary).
Q: What are the late fees or NSF fees?
A: Both late and NSF fees are $35.
Q: What lease terms do you offer?
A: We offer one-year lease terms.
💰 Rent & Income
Q: What are the current rental rates?
A: Current rents are:
Q: What utilities are included in rent?
A: Rent includes gas/heat, trash, water, and sewage. Residents are responsible for electricity, cable, and internet.
Q: What is the minimum household income requirement?
A: Applicants must meet the following minimums (2.5x rent):
Q: What is the maximum income limit?
A: Maximum annual gross income is based on household size and program for adults living in the home ages 18+ (HUD/LIHTC):
| Household Size | 30% HUD | 60% LIHTC |
|---|
| 1 Person | $25,200 | $50,400 |
| 2 Person | $28,800 | $57,600 |
| 3 Person | $32,400 | $64,800 |
| 4 Person | $35,950 | $71,940 |
| 5 Person | $38,850 | $77,700 |
| 6 Person | $43,150 | $83,460 |
Q: Do you accept Housing Choice Vouchers (Section 8)?
A: Yes. Lake County Housing Authority vouchers are accepted as long as the payment standard covers the rent. Voucher recipients do not need to meet the minimum income requirement but cannot exceed maximum income limits.
🏘 Understanding Our Programs
Q: What is the difference between HUD and Tax Credit (LIHTC) Apartments?
A:
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HUD Apartments are part of the U.S. Department of Housing and Urban Development program. These units are typically income-based, meaning your rent is calculated as a percentage of your household’s income. HUD may provide rental assistance to help lower your monthly payment.
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Tax Credit (LIHTC) Apartments are part of the Low-Income Housing Tax Credit Program. These apartments have set rental rates determined by program limits and the area’s median income (AMI). Rent amounts do not change based on your income.
Q: Is Rosewood income-based or income-restricted? What’s the difference?
A: Rosewood is income-restricted, not income-based.
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Income-based housing means your rent amount changes depending on your income (common in HUD-subsidized apartments).
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Income-restricted housing means you must meet specific income limits to qualify, but your rent is fixed and does not adjust if your income changes.
In short, your income determines eligibility, not monthly rent.
🕓 Waitlist & Application Process
Q: What is the pre-application process?
A: We are currently working from a waitlist. While some apartments may appear vacant, they are not available to the public unless you are next on the list.
You may complete a pre-application online to be reviewed and added to the waitlist. Please note that the waitlist is currently long for certain floor plans but not all.
Q: What do I need to provide when applying?
A: To move forward with the rental application process, please submit the following items to the leasing office (pre-qualifications subject to change):
✅ Completed Rental Application (hard copy)
✅ $35 Non-Refundable Money Order (payable to “Rosewood”)
✅ Valid State ID or Driver’s License (for all adult household members)
✅ Social Security Card / ITIN (for everyone in the household)
✅ Birth Certificates (for everyone 17 and younger)
✅ Income Verification:
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Two recent pay stubs
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Verification letters for other income sources (SS/SSI, Pension, Child Support, etc.)
✅ Bank Statements (most recent month):
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Checking and Savings Accounts
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Digital accounts such as Cash App, PayPal, Venmo, Credit Karma, etc.
🐾 Pets
Q: Are pets allowed?
A: Yes! We welcome up to 2 pets per household with:
👥 Community
Q: What type of community is Rosewood?
A: Rosewood is an affordable housing community offering quality 1-, 2-, and 3-bedroom apartment homes. We follow both HUD and LIHTC (Tax Credit) program guidelines to provide affordable housing options for qualifying households in Round Lake, IL.
📞 Contact
Q: How can I get more information or schedule a tour?
A: Call us at (847) 594-8294 or email rosewood0001@res-mate.com during office hours.
We look forward to helping you find your new home at Rosewood Apartments!