This fall, the Cook County Land Bank Authority (CCLBA) launched the Homebuyer Direct Program to break down barriers to homeownership and help transform communities by offering fixer-upper homes at below-market prices in neighborhoods across Cook County. As part of launching this program, the Land Bank will give away a fully rehabbed single-family home in Auburn Gresham. The new initiative helps prospective homebuyers buy, rehab and ultimately move in to the home of their dreams. The program serves two important functions for buyers: it helps them build equity during the purchase process and lets them incorporate their own ideas into the design of their new home.

Traditionally, CCLBA has sold delinquent, vacant or abandoned properties to developers. This new initiative lets CCLBA reach out directly to the homebuyers, who then can guide the development process (including the schedule, choice of contractors and aesthetic choices about the rehab) in accordance with their preferences. Through this new initiative, about 30 to 40 CCLBA properties are available to prospective owner-occupants at below-market prices. The homes, which primarily run between $50,000 and $170,000, are located in neighborhoods such as Avalon Park, Roseland and South Shore. Suburban properties are also available. Potential homebuyers can work with a broker, and homes may be purchased via cash or financing. The Land Bank does not impose any income restrictions on buyers. The Land Bank will start accepting entries for the home giveaway on October 2, 2017. Cook County residents can enter either online at the CCLBA website or in person at the Land Bank offices at 69 W Washington Street on the 29th floor.