Cook County Land Bank Authority

Cook County Land Bank Authority The Official page for the Cook County Land Bank Authority. The purpose of Cook County Land Bank is not only to return vacant and foreclosed property back to active and reliable community assets, but also to be a catalyst to foster quality economic growth and developments that will provide long-term community stabilization, revitalization and preservation through comprehensive strategic planning.

As the wealth gulf between white families and Black and Brown families continues to widen, it is becoming abundantly cle...
10/06/2021
Black And Latino Homeowners Are About Twice As Likely As Whites To Get Low Appraisals

As the wealth gulf between white families and Black and Brown families continues to widen, it is becoming abundantly clear that racial disparities in housing are still inhibiting Black and Latinx/e families from building wealth through homeownership.

The latest report by Freddie Mac (@FreddieMac) found that 7.4% of appraisals in majority-white neighborhoods came in below a property's contract price while 12.5% of appraisals for Black areas and 15.4% for Latino communities were undervalued. Homes in BIPOC neighborhoods were more than twice as likely to be undervalued compared with those in white areas.

The analysis also found that as the concentration of the Black or Latinx/e population grew in a particular area, so did the share of undervalued appraisals.

At #CCLBA, we are committed to reversing the effects of decades of discriminatory housing practices and policies to remove blight and build wealth in Cook County’s communities. Read more in NPR (@NPR).

https://www.npr.org/2021/09/23/1039771981/black-latino-homeownership-real-estate-wealth-disparities-appraisals-undervalue

A new analysis by Freddie Mac has found that only 7.4% of appraisals in majority-white census tracts came in below contract price, compared with 12.5% for Black areas and 15.4% for Latino ones.

Hispanic Heritage Month is an incredibly important observance at the Land Bank. It is an honor to have another reason to...
10/05/2021

Hispanic Heritage Month is an incredibly important observance at the Land Bank. It is an honor to have another reason to celebrate our team members whose hard work and dedication allow us to reclaim, resurrect and redevelop vacant and abandoned properties in our communities.

Crystal Campos is an Administration Assistant for the #CCLBA. As an Administrative Assistant, Crystal leverages her robust experience in customer service and process improvement to ensure that the Land Bank runs smoothly. Crystal’s contributions to the Land Bank are numerous as she helps us communicate frequently with our constituents and community.

We are grateful to have Crystal on our team.

Hispanic Heritage Month is an incredibly important observance at the Land Bank. It is an honor to have another reason to celebrate our team members whose hard work and dedication allow us to reclaim, resurrect and redevelop vacant and abandoned properties in our communities.

Crystal Campos is an Administration Assistant for the #CCLBA. As an Administrative Assistant, Crystal leverages her robust experience in customer service and process improvement to ensure that the Land Bank runs smoothly. Crystal’s contributions to the Land Bank are numerous as she helps us communicate frequently with our constituents and community.

We are grateful to have Crystal on our team.

At #CCLBA, Hispanic Heritage is celebrated year-round, but we are particularly excited to honor our Hispanic partners an...
09/29/2021

At #CCLBA, Hispanic Heritage is celebrated year-round, but we are particularly excited to honor our Hispanic partners and team members who are making an impact in our communities.

Luis Castro and his wife Marsha, co-owners of L&MC Investments and local community developers, are committed to creating affordable housing in neighborhoods like Humboldt Park, Hermosa, Berwyn and East Garfield Park.

L&MC Investments has been building 12 brand new affordable single-family homes in Humboldt Park through a partnership with the City of Chicago. And during the past five years, the company has also partnered with the Cook County Land Bank Authority to rehab vacant, abandoned properties.

We are so proud to work with community leaders who share our mission to make our neighborhoods more equitable, affordable and economically vibrant.

The Cook County Land Bank Authority is dedicated to removing blight and making property ownership more accessible and af...
09/27/2021

The Cook County Land Bank Authority is dedicated to removing blight and making property ownership more accessible and affordable for Cook County residents. ⁠

👉👉 CCLBA awards properties to community developers and small business owners who share the common goal to reverse the devastating effects of redlining and the harmful impacts of the 2008 housing crisis on community wealth.👈👈⁠

Commonly held misconceptions like these are why we're myth-busting, answering FAQs, and sharing terms you should know related to all things #CCLBA.⁠

Have other questions about the Land Bank’s work? Drop them in the comments below!⁠

⁠#realestatemyth #realestate #realestatemythsbusted #cookcounty #chicagorealestate #realestatetips #realestateinvesting #propertybuyers #homeownership #chicagodevelopers #realestatelife

The Cook County Land Bank Authority is dedicated to removing blight and making property ownership more accessible and affordable for Cook County residents. ⁠

👉👉 CCLBA awards properties to community developers and small business owners who share the common goal to reverse the devastating effects of redlining and the harmful impacts of the 2008 housing crisis on community wealth.👈👈⁠

Commonly held misconceptions like these are why we're myth-busting, answering FAQs, and sharing terms you should know related to all things #CCLBA.⁠

Have other questions about the Land Bank’s work? Drop them in the comments below!⁠

⁠#realestatemyth #realestate #realestatemythsbusted #cookcounty #chicagorealestate #realestatetips #realestateinvesting #propertybuyers #homeownership #chicagodevelopers #realestatelife

As we continue to celebrate Hispanic Heritage Month, we are thrilled to honor our team members who contribute their time...
09/23/2021

As we continue to celebrate Hispanic Heritage Month, we are thrilled to honor our team members who contribute their time, energy and expertise to erasing blight and creating community wealth in our neighborhoods.

Alejandro (Alex) Alvarado is an Asset Manager for #CCLBA where he oversees a portfolio of real estate assets acquired by the Land Bank. With over twenty years of banking and real estate experience, his professional career includes non-profit community outreach involvement, trust real estate asset management, and residential rehab project management.

Alex is a veteran of The United States Air Force and served during Operation Desert Storm/Desert Shield and Operation Restore Freedom after 9/11. We thank him for his service to our country and to Cook County.

As we continue to celebrate Hispanic Heritage Month, we are thrilled to honor our team members who contribute their time, energy and expertise to erasing blight and creating community wealth in our neighborhoods.

Alejandro (Alex) Alvarado is an Asset Manager for #CCLBA where he oversees a portfolio of real estate assets acquired by the Land Bank. With over twenty years of banking and real estate experience, his professional career includes non-profit community outreach involvement, trust real estate asset management, and residential rehab project management.

Alex is a veteran of The United States Air Force and served during Operation Desert Storm/Desert Shield and Operation Restore Freedom after 9/11. We thank him for his service to our country and to Cook County.

This #TransformationTuesday, we’re thrilled to highlight this beautifully rehabbed home in the Maywood neighborhood.High...
09/21/2021

This #TransformationTuesday, we’re thrilled to highlight this beautifully rehabbed home in the Maywood neighborhood.

High 5 Group LLC expertly renovated this place, transforming it from a vacant, dilapidated house to a gorgeous, welcoming home.

We’re proud to work with local developers throughout Cook County to refresh abandoned properties and help make homeownership accessible, affordable and attainable in Cook County’s communities. #cclba #homerehab #housing #chicagohousing #affordablehousing #homesweethome #chicago #cookcounty #transformation #realestate #homeownership #home #equity

Este #TransformationTuesday, estamos encantados de destacar esta casa bellamente rehabilitada en Chicago. Nos enorgullece trabajar con nuestros desarrolladores en todo el condado de Cook para renovar las propiedades vacías y abandonadas y ayudar a que nuestros residentes tengan acceso a la propiedad de vivienda.

Are you a business owner looking to expand your operation? Are you interested in rescuing vacant commercial properties a...
09/20/2021

Are you a business owner looking to expand your operation? Are you interested in rescuing vacant commercial properties and transforming them into thriving hubs of economic activity?

This 2-story office building on a 29,700 sq ft lot in Country Club Hills is just one of the many commercial properties you can apply for at cookcountylandbank.org.

At #CCLBA, we pride ourselves on helping entrepreneurs and small businesses find a home for their enterprise and space to support their growth. Browse through our interactive property viewer to discover and apply for your next office space.

Are you a business owner looking to expand your operation? Are you interested in rescuing vacant commercial properties and transforming them into thriving hubs of economic activity?

This 2-story office building on a 29,700 sq ft lot in Country Club Hills is just one of the many commercial properties you can apply for at cookcountylandbank.org.

At #CCLBA, we pride ourselves on helping entrepreneurs and small businesses find a home for their enterprise and space to support their growth. Browse through our interactive property viewer to discover and apply for your next office space.

During the pandemic, mortgage rates have plummeted, catalyzing a home-buying boom for families across the country. Howev...
09/17/2021
Black homeownership’s stall during COVID-19 pandemic the ‘epidemic after the epidemic’

During the pandemic, mortgage rates have plummeted, catalyzing a home-buying boom for families across the country. However, the story is different for Black families looking to purchase homes during this time.

"The gap between Black and white owners widened, hardening a divide that’s resulted in the typical white family having eight times the wealth of the typical Black family.”

Job loss and health disparities during the pandemic - in addition to the legacies of racial segregation- impacted Black families at disproportionate rates, inhibiting them from taking full advantage of record-low mortgage rates.

These persistent inequities drive the work we do at the Land Bank to bolster community wealth by removing blight, reclaiming vacant property and putting them back into the hands of community leaders with strong visions for the vitality of their neighborhoods.

https://chicago.suntimes.com/consumer-affairs/2021/8/17/22628832/black-homeownership-covid-pandemic-coronavirus

Even as mortgage interest rates hit record lows, fueling home-buying, Black Americans lost ground on homeownership, the gap between Black and white owners growing.

In order to reclaim and resurrect blighted properties, the #CCLBA acquires vacant, abandoned and tax-delinquent structur...
09/16/2021

In order to reclaim and resurrect blighted properties, the #CCLBA acquires vacant, abandoned and tax-delinquent structures in various ways. One of these methods is by deed-in-lieu. Deed in Lieu properties are homes, vacant lots or commercial properties deeded over to CCLBA as an alternative to foreclosure.

Through deed-in-lieu, the Land Bank has been able to help small business owners, like Starnella Johnson of Ambassador Floral, grow their enterprises and stay in the communities that they are passionate about serving.

Starnella Johnson, who’s been designing floral arrangements since 1986, rented Ambassador Floral from the shop’s previous owner in 2003. However, her rent had been steadily increasing while the building was becoming more dilapidated. The business’ previous owner approached the Land Bank about acquiring the property via deed in lieu of foreclosure; so the Land Bank acquired the property and sold it to Johnson in 2020.

We are proud to work with local developers, property owners and community entrepreneurs to generate wealth and eradicate blight in Cook County’s neighborhoods.

In order to reclaim and resurrect blighted properties, the #CCLBA acquires vacant, abandoned and tax-delinquent structures in various ways. One of these methods is by deed-in-lieu. Deed in Lieu properties are homes, vacant lots or commercial properties deeded over to CCLBA as an alternative to foreclosure.

Through deed-in-lieu, the Land Bank has been able to help small business owners, like Starnella Johnson of Ambassador Floral, grow their enterprises and stay in the communities that they are passionate about serving.

Starnella Johnson, who’s been designing floral arrangements since 1986, rented Ambassador Floral from the shop’s previous owner in 2003. However, her rent had been steadily increasing while the building was becoming more dilapidated. The business’ previous owner approached the Land Bank about acquiring the property via deed in lieu of foreclosure; so the Land Bank acquired the property and sold it to Johnson in 2020.

We are proud to work with local developers, property owners and community entrepreneurs to generate wealth and eradicate blight in Cook County’s neighborhoods.

Happy Hispanic Heritage Month from the Cook County Land Bank Authority! This month, and every month, we are thrilled to ...
09/15/2021

Happy Hispanic Heritage Month from the Cook County Land Bank Authority! This month, and every month, we are thrilled to celebrate our Hispanic partners, developers, team members and residents!

The Hispanic community is the lifeblood of so many neighborhoods throughout Cook County. The numerous cultures and ethnicities that contribute to Hispanic heritage are varied and vibrant, contributing to the beauty and brilliance of Cook County and beyond.

#CCLBA is proud to work with Chicagoland’s best Hispanic community developers—like Noe Favela of V&N Properties. Favela, who grew up in Little Village, has worked with the Land Bank to transform a mixed-use property, a single-family home and a 2-unit building in Avondale and Grand Crossing.

Swipe to check out some of Noe’s work in resurrecting formerly vacant and abandoned properties throughout Cook County.

At #CCLBA, we're proud to work with small business owners, community developers, and homebuyers across #cookcounty to ma...
08/25/2021

At #CCLBA, we're proud to work with small business owners, community developers, and homebuyers across #cookcounty to make property ownership easy & accessible. ⁠

Acquiring a property through the Land Bank is as easy as the steps shown here. Visit the link in our bio to explore our inventory and apply. ⁠

At #CCLBA, we're proud to work with small business owners, community developers, and homebuyers across #cookcounty to make property ownership easy & accessible. ⁠

Acquiring a property through the Land Bank is as easy as the steps shown here. Visit the link in our bio to explore our inventory and apply. ⁠

In April, we were proud to celebrate the resurrection of our largest multi-family property to date. This #transformation...
08/24/2021

In April, we were proud to celebrate the resurrection of our largest multi-family property to date.

This #transformationtuesday, we’re thrilled to spotlight the transformation of 42 beautifully renovated units by WPD Management in Englewood!

We are proud to work with local Cook County developers to reclaim and refresh vacant houses and turn them into beautiful, welcoming homes in our neighborhoods.

By increasing transparency and accountability from our largest banks, Chicago’s Lending Equity Ordinance will help Black...
08/18/2021

By increasing transparency and accountability from our largest banks, Chicago’s Lending Equity Ordinance will help Black & Brown families build generational wealth and gain access to homeownership. Share and like this post if you support #LendingEquity

By increasing transparency and accountability from our largest banks, Chicago’s Lending Equity Ordinance will help Black & Brown families build generational wealth and gain access to homeownership. Share and like this post if you support #LendingEquity

This #TransformationTuesday, we’re thrilled to highlight this beautifully rehabbed home in the Auburn Gresham neighborho...
08/17/2021

This #TransformationTuesday, we’re thrilled to highlight this beautifully rehabbed home in the Auburn Gresham neighborhood of Chicago.

@kbmrealty expertly renovated this place, transforming it from a vacant, dilapidated house to a gorgeous, welcoming home.

We’re proud to work with our developers throughout Cook County to refresh vacant, abandoned properties and help make homeownership accessible for our residents. #cclba #homerehab #housing #chicagohousing #affordablehousing #homesweethome #chicago #cookcounty #transformation #realestate #homeownership #home #equity

Este #TransformationTuesday, estamos encantados de destacar esta casa bellamente rehabilitada en Chicago. Nos enorgullece trabajar con nuestros desarrolladores en todo el condado de Cook para renovar las propiedades vacías y abandonadas y ayudar a que nuestros residentes tengan acceso a la propiedad de vivienda.

In similar ways after the 2008 housing crisis, the pandemic has disproportionately affected Black households at higher r...
08/16/2021

In similar ways after the 2008 housing crisis, the pandemic has disproportionately affected Black households at higher rates than white households. A report by the @americanprogress shows that homeownership among African Americans grew more slowly than it did for white households during the pandemic, despite historically low mortgage interest rates.

Read more at the link in our bio.

The #CCLBA makes property ownership easy and accessible for Cook County residents, putting wealth and equity back into o...
08/12/2021

The #CCLBA makes property ownership easy and accessible for Cook County residents, putting wealth and equity back into our communities.

Whether you are a prospective homeowner, small business owner, or local community developer, the #CCLBA has properties at below-market rates for you to purchase.

Visit our website at cookcountylandbank.org or click the link in our bio to explore our inventory.

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El #CCLBA hace que la propiedad sea fácil y accesible para los residentes del Condado de Cook, devolviendo la riqueza y la equidad a nuestras comunidades.

Si usted es un futuro propietario de vivienda, propietario de una pequeña empresa o desarrollador de la comunidad local, el #CCLBA tiene propiedades a una tasa de mercado inferior a la que usted puede comprar.

Visite nuestro sitio web en cookcountylandbank.org o haga clic en el enlace de nuestra biografía para explorar nuestro inventario.

The #CCLBA makes property ownership easy and accessible for Cook County residents, putting wealth and equity back into our communities.

Whether you are a prospective homeowner, small business owner, or local community developer, the #CCLBA has properties at below-market rates for you to purchase.

Visit our website at cookcountylandbank.org or click the link in our bio to explore our inventory.

--

El #CCLBA hace que la propiedad sea fácil y accesible para los residentes del Condado de Cook, devolviendo la riqueza y la equidad a nuestras comunidades.

Si usted es un futuro propietario de vivienda, propietario de una pequeña empresa o desarrollador de la comunidad local, el #CCLBA tiene propiedades a una tasa de mercado inferior a la que usted puede comprar.

Visite nuestro sitio web en cookcountylandbank.org o haga clic en el enlace de nuestra biografía para explorar nuestro inventario.

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69 W Washington
Chicago, IL
60640

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Please call me 773-812-1988
So proud of Cook County Land Bank what they are doing for the communities in Chicago. One thing to talk about it; another to do something. All the houses are turn into beautiful quality Homes.that are given to well-deserved recipients......Job-Well-done.
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