The Oak Park Residence Corporation is a community-based, non-profit housing development corporation. Its primary mission is to promote Oak Park as a diverse and economically balanced community by providing quality rental housing at an affordable price. The Corporation carries out its mission principally by acquiring older apartment buildings, rehabilitating them into assets that contribute to their neighborhoods, and providing quality management services. Established in 1966, the Corporation is one of the oldest and most successful non-profit housing development corporations in metropolitan Chicago.
During its 52 years of operation, the Corporation has acquired and rehabilitated more than 25 multi-family buildings. It currently owns and manages 22 multi-family buildings containing about 480 units of rental housing. In addition to the quality management of its own buildings, the Corporation offers professional management services to other multi-family building owners in Oak Park.
The Corporation is affiliated with the Oak Park Housing Authority and, through this partnership, provides housing for low-income seniors and individuals with disabilities in three buildings that receive federal rent subsidies. Among these buildings is an award-winning congregate housing facility for senior residents and a building specially designed for severely mobility impaired individuals.