Abrams Intergenerational Village

Chicago’s first intentional building for seniors, grandfamilies, students

TRC is developing a vibrant, intergenerational, and permanent supportive housing facility intended to provide housing that is sensitively designed to allow seniors to effectively raise and nurture children collaboratively. In the Village, these grandparents would not be alone, they would be able to engage with their peers as well as have support services in place to nurture children, support the grandparents, and provide fellowship for seniors without close family.

This project is currently in the Schematic Design stage, with construction commencement expected in Fall 2024.

Donate Now to Abrams Intergenerational Village

Your gift to AIV may be eligible for Illinois Affordable Housing Tax Credits (IAHTC) equal to 50% of your donation payments by the time of project financing closing. Learn more below.

Project Summary

Abrams Intergenerational Village (AIV) will be a 71-unit building located in the Washington Park neighborhood at the long-term vacant lot of 5300-5318 S. Calumet. The project is informed through an ongoing community planning process to develop housing that is consistent with its culture and values of intergenerational housing, a practice which has a rich history in the Bronzeville area.

RESIDENT MIX

  • 25 two- and three-bedroom apartments for “grandfamilies” (grandparents age 55+ raising minor grandchildren)

  • 39 Senior Apartments (62+)

  • 7 Resident Assistants, young adult students who are housing insecure

PROPERTY FEATURES

  • Onsite Supportive Services

  • Optional Communal Living & Dining

  • 24-hour Staffed Security

  • Library & Computer Room

  • Fitness Center

  • Rooftop Terrace

  • Outdoor Playlot & Garden

AIV Funders

Low-Income Housing Tax Credits (LIHTC)

Federal Home Loan Bank

Illinois Housing Development Authority

City of Chicago Equitable Transit Oriented Development (ETOD)

RRF Foundation for Aging

ComEd

Pierce Family Foundation

Cuore e Mani Foundation

G. Lawrence & T. Prim Charitable Fund

More to come!

Funding Status

$34.6M Approved/Committed
$1M To be raised

AIV is a nearly $36 million project. Please help us fill the funding gap!

Illinois Affordable Housing Tax Credits

Triple Your Donation Value!

Donors to the AIV development may receive a state tax credit equal to 50% of their donation. Donor will also receive a federal charitable deduction. A donation of $10,000 would likely only cost you $3,250 once the credit is taken.

Eligible Donations

Donations of cash, securities, real or personal property made to the AIV development made before the close of financing may be eligible.

Who Is Eligible

Any individual or corporation may make a donation but the credit may only be taken against Illinois income tax.

Rollover & Transfer

Tax credits may be rolled over up to 5 years or transferred to another entity if the transferee has also made a donation to AIV.

Tax Credit Examples

Scenario 1:

Jane makes a $10,000 donation to AIV, is in the 22% federal tax bracket, and itemizes deductions on her federal tax return.

  • Jane receives the usual federal tax deduction of $10,000 x 22% = $2,200

  • Jane also receives a credit on her state tax return of $10,000 x 50% = $5,000

  • In total, Jane’s tax liability is reduced by $7,200

  • The true cost of Jane’s donation is $10,000 - $7,200 = $2,800 (while AIV receives the full $10,000!)

Scenario 2:

Aaron makes a $10,000 donation to AIV, but has no Illinois state tax liability.

  • Aaron can still receive the same federal tax credit if he itemizes his federal tax return.

  • Aaron transfers/donates the $5,000 Illinois Affordable Income Tax Credits he would have received back to TRC.

  • TRC sells the tax credit at the current market rate (approx. 90 cents on the dollar) for $5,000 x .90 = $4,500

  • Overall, Aaron’s $10,000 donation contributes $10,000 + $4,500 = $14,500 to Abrams Intergenerational Village!