The Member Share Price varies based on individual member's initial membership amount, which includes 7% annual interest.  Please email the PAC at pac.chicago@gmail.com or call 847-424-5592 to learn more about becoming a PAC member.

Dear friend,

Thank you for visiting our site!

Currently, we have a full waitlist. At this time, we are not scheduling membership classes. 

Please note that the class is the first step towards PAC Membership and we do not give tours prior to the class attendance. Please call 847-424-5592 every few months to inquire about a future class date, or read more about membership here on our blog.

Thank you! 

Warmly,

Pratt Ashland Coop 

Welcome! 

If you're looking to move to an affordable and community-oriented housing option in Rogers Park, consider our coop. We have 1, 2 and 3 bedroom units.

At the PAC, we know and interact with our neighbors, unlike many renters. Unlike market rate coops, our membership share amounts are affordable; $2-6k down, plus a monthly housing charge well below market rate.

Our units are sunny and spacious, with beautiful wood floors and trim (1 unit has carpet). Shared laundry in basement. Shared garden and backyard for grilling.  We are conveniently located a few blocks from the CTA Red Line and a 10-min walk to the Metra.

Potential members must attend a membership class and participate in a screening process. The PAC is a diverse community of caring neighbors. We would love to add you to our community.

If interested, please read more about how the PAC operates, then send an email to pac.chicago@gmail.com.

Join the PAC! The Pratt-Ashland Cooperative is a limited equity housing co-op in East Rogers Park. The members of the PAC enjoy shared ownership, a strong sense of community, lovely individual living spaces and convenience to public transit, shops and the lake. Please review this blog for more info on the steps to PAC membership and call: 847-424-5592 or email: pac.chicago@gmail.com for more info.

About the PAC

The Pratt-Ashland Cooperative (PAC) was established in 1995 to allow low- to moderate- income families the opportunity of owning their home. We are a 22-unit apartment building located in Rogers Park.

The building is cooperatively owned and we all have our own apartments. Membership in the Pratt-Ashland Co-op is an extremely affordable way to be a home owner: you buy in at a share price ranging from approximately $2,500 - $6,000 and then you pay a monthly housing charge that covers all building maintenance and your portion of the mortgage on the whole building. Combine that with convenient access to CTA red line, Clark bus, Metra, and THE BEACH, and it’s a great setup.

Pratt-Ashland is an affordable limited equity cooperative. The residents collectively have ownership and control building over their building. Intro to Cooperative class available to all new applicants.

GENERAL FEATURES 
Small pets are welcome


Child Friendly and Involved Neighbors

Community Oriented

7% Annual Interest on your Ownership Share


BUILDING FEATURES:
Vintage Building

Community Garden and back yard space

Bike room

Cable Ready and Heat Included
 
Decorative Fireplaces (most units) & Back Porches
 
Hardwood Floor (most units) and plenty of Closet Space
 
Laundry Facilities

Close to Public Transportation, Schools, & Lakefront 

6 Steps to PAC Membership

Becoming a member of the PAC is not difficult, but not a quick process either. We want to be sure that you understand what cooperative housing entails, and that you are a good fit with our community. That is why we have this membership process.

Introductory Class. If you are interested in more information about cooperative housing, you must  attend an Intro to Co-op class. After completion of the class, you will receive a certificate and be placed on the PAC  Wait List


Background and Credit Checks. Our management company will facilitate this check and approve your status for continuing in the application process. The cost for a credit check is $50 (single) and $90 for a family. Every applicant over the age of 18 must complete a background ad credit check.

Board Review. Following steps one and two, the board will meet in order to review the application and approve scheduling the Home visit.

Home Visit from Board. At least two members of the board will visit your current residence. This is a scheduled "surprise visit." You will know generally when they will arrive, but not specifically the date and time.

Interview with Current Membership. This is your interview with current members. We will ask you questions and then circulate your responses to all PAC members who vote on member selection.

Membership Vote. Every unit gets one vote on your membership into the PAC. Most likely if you've made it this far then things are looking good for PAC membership.Congratulations! Completing these steps will make you a PAC member. The only thing left is to determine a move in date and to pay your first membership fee into the community. Welcome to the PAC!

Email the PAC or call the recruitment committee at 847-424-5592.

What is a Co-op?

Housing Cooperatives, or co-ops, are a form of shared home ownership in multi unit buildings. The cooperative is owned by all the members jointly. Members of the cooperative buy a share of ownership that gives them rights to one unit. Share prices vary depending on the size of the unit.

Co-op versus Condo? There are many legal distinctions but the biggest difference is in the financing. A co-op is financed as one property (or association), which allows for lower costs, and members own a share of the association that gives them rights to occupy their individual unit, and one vote concerning cooperative business decisions. In a condo, each unit is owned and financed individually. 

Email the PAC or call the recruitment committee at 847-424-5592.