15555 Millard Ave

15555 Millard Ave

Available: 199 tokens at $46+

Min Investment
Markham, IL
Projected Return

Company Description

This property is an occupied, recently renovated 4 bedroom 2 bathroom single family home located in a trending, tree-lined neighborhood of Chicago. It is a two-story house that’s been recently renovated with fully updated appliances, flooring and bathrooms, and a 2 car garage. This property is located just a few miles from nature preserves, restaurants, and freeway access.
The tenant is section 8 and is on a 1 year lease which ends on August 31, 2022.


Update 8/13/2022: The tenant has a housing voucher and their rent portion was $86 between December-April. They've had a medical issue and have not been able to work and pay their portion of the rent. The balance that accumulated between December - April was minimal and not enough to start evictions on. However, the program increased the tenant's portion to $380 in May and the balance started to accumulate. The tenant is on a fixed income and believes the change was due to a new caseworker taking over. The tenant currently owes a balance of $2,437.23. The balance owed for December - August includes Tenant rent portion: $1,950, Water bill: $248.78, Fees: 238.78. The Property Manager is currently working on a change form to lower the tenants responsibility, which must be approved by the Housing Authority. The PM will also start working with the tenant to start making payments towards their balance. If the change form does not get approved, then the next option is to alert the Housing Authority of a potential eviction and offer the tenant cash for keys. It will take 60 days for the tenant to move because they will have to get moving papers approved. The Housing Authority will continue paying their portion of the rent - $1,309 out of $1,689 (77.5%) - until the tenant moves out.
Update 8/18/2022: The Property Management fees have been reduced to 5.7% due to a new National Partnership Agreement between Lofty and the Property Manager, HomeRiver Group.
Update 10/12/2022: The Housing Authority has denied the rent increase request and the Property Manager has been working to appeal the decision. The Housing Authority has been slow to respond due to staffing shortages. The tenant is also seeking rental assistance in the meantime and is unable to return to work. The tenant is willing to vacate without Cash for Keys. The PM recommends to give the Housing Authority until the first week of November to respond to the appeal before asking the tenant to move out. The Housing Authority will continue paying their portion of the rent - $1,309 out of $1,689 (77.5%) - until the tenant moves out.
Amount Raised : $0
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