Cook County Land Bank Expands Vacancy Program, Offers 4,400 Lots for Sale
[Headline corrected 2/21/2017] "More than 4,400 vacant lots in Chicago and the suburbs are going up for sale in an effort to attract development to areas that need it," reports Dennis Rodkin.
The big sale expands traditional practices at the land bank. According to Rodkin, "[u]ntil now, the land bank had been selling only vacant homes, to rehabbers or families who fix them up for their own use."
Most of the lots are located in residential areas, with prices ranging from $3,000 to $5,000. "Every lot is within half-mile of a CTA or Metra rail stop or a stop on a major bus line, making them appealing for redevelopment," adds Rodkin.