PRESIDENT PRECKWINKLE AND THE COOK COUNTY LAND BANK AUTHORITY ANNOUNCE THE TRANSFORMATION OF 1,000 VACANT AND ABANDONED PROPERTIES INTO HOMES, OFFICES AND COMMUNITY SPACES ACROSS THE REGION

 

PRESIDENT PRECKWINKLE AND THE COOK COUNTY LAND BANK AUTHORITY ANNOUNCE THE TRANSFORMATION OF 1,000 VACANT AND ABANDONED PROPERTIES INTO HOMES, OFFICES AND COMMUNITY SPACES ACROSS THE REGION 

 
The Cook County Land Bank Authority (CCLBA) announced today that through its programs, community developers have now renovated 1,000 previously vacant and abandoned homes in Cook County, returning them to productive, tax-generating use. The CCLBA, launched in 2013, acquires properties that have sat tax‐delinquent, abandoned and vacant for years and sells them at fair‐market rates to qualified community‐based developers.  The properties are rehabbed for prospective homeowners or small business owners, reducing blight and generating community wealth across Cook County communities. The Land Bank has generated more than $123 million in community wealth, disrupting decades of divestment and enabling small developers to build businesses and create jobs, leading to greater stability in their own neighborhoods. Today’s event was held in collaboration with the City of Chicago and County representatives who spoke about critical partnership with the Land Bank.

The 1,000th redeveloped property, located at 3838 W. Adams St. in Chicago’s West Garfield Park community, was acquired by community developer Henry Shelton. Shelton grew up in the south suburbs but frequently traveled to the West Side of Chicago to visit family. Through those visits, Shelton says he developed a relationship with the West Side and came to feel that it was his home. The property at 3838 W. Adams sat vacant for at least five years before Shelton purchased it from the CCLBA, looking for a way to give back to the West side communities he loves.

“Henry’s story, and the stories behind the other 999 rehabbed homes, speaks to the potential of each and every property and shows vacant properties becoming thriving community assets,” said Eleanor Gorski, Executive Director of CCLBA. “Abandoned, tax-delinquent properties are both the result of and impetus for divestment in our communities, and because of community members like Henry Shelton, we are helping put an end to that cycle.”

“It was clear that this property had potential, and I’m proud that I was able to rehab it and make it a valuable asset for the West Garfield Park community,” said Henry Shelton, community developer. “Without the Cook County Land Bank, this property likely would still be abandoned and vacant, and I’m grateful to the Land Bank for enabling small, community developers like me to invest in the communities we love.”

“Small community developers have the skills and the commitment to their communities, but they generally lack the resources to compete with large developers and acquire properties through a complex and cumbersome process,” said Cook County Commissioner Bridget Gainer, Chairman of the Cook County Land Bank Authority Board. “The Land Bank empowers developers to turn around properties and create jobs in their own communities, and thanks to the Land Bank’s work there are hundreds of developers with inspiring stories and a thousand properties that are again generating tax revenue for the County.”

“This home is an example of what happens when we connect passionate, committed people with the opportunity to transform their communities,” said Toni Preckwinkle, Cook County Board President. “Thanks to the Land Bank, there are a thousand success stories like this one throughout Cook County, and developers like Henry have made them all possible.”

"Community-driven development and wealth-building are keys to neighborhood revitalization,” said Maurice Cox, Commissioner of the Chicago Department of Planning and Development. “That’s why the Land Bank's innovative collaborations to revitalize underutilized and vacant land are helping to achieve our common goals."

“The Cook County Land Bank Authority is increasing access to affordable homeownership so that all Chicagoans can build generational wealth for their families' futures," said Marisa Novara, Commissioner, Chicago Department of Housing. “We are grateful for the innovative ways that our strategic partnership results in stronger communities across the City of Chicago.”

“At CNI we have always looked at vacant property as an asset—a place just waiting for the ideas and tenacity to turn what some see as blight into the new homes, production facilities, stores and restaurants that every community needs,” said David Doig, President of Chicago Neighborhood Initiatives (CNI). “The Cook County Land Bank Authority has revolutionized this process, bringing needed transparency and efficiency and establishing a pipeline of potential sites. In Pullman we’ve been able to rescue and rehab scores of century-old homes through the CCLBA the Land Bank has been a crucial and reliable ally.”

At purchase, the 2-flat greystone at 383 W. Adams was in need of significant renovations, with a hole in the roof and water damage throughout. Shelton transformed it inside and out into a modern, welcoming family home with a duplex income unit. Before and after photos of the property are available here.
For more information about the Cook County Land Bank Authority, visit www.cookcountylandbank.org.

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