Bridget Gainer, Cook County Commissioner – Tenth District
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Foreclosure & Land Bank: January 2013 Archives

Cook County, IL Votes to Create Largest Land Bank in the Nation
January 16, 2013

It is with great excitement that I announce the passage of the Cook County Land Bank Ordinance. Today, by a unanimous vote, the Cook County Board of Commissioners approved the creation of what will be the largest land bank in the Country. With your help and support we have changed the way our local governments can respond to foreclosures and vacant buildings. 

A Cook County Land Bank is not a silver bullet, but will give the County the ability to execute a comprehensive plan to address not just the vacant homes, but the communities that surround them. The land bank will incentivize development, promote sustainable homeownership and create rental opportunities, all while keeping for communities at the table for the planning and redevelopment of their communities. The Cook County Land Bank is designed to address vacant and abandoned buildings regionally, and will be the thread that connects foreclosure programs throughout the County, State and Federal levels. Instead of layering demolition, rehab, rental or disposition programs on top of each other the Land Bank will leverage the scale of the problem to the size of the market. 

The issues around vacancy and foreclosure have changed dramatically in the last decade, but are still fighting the last war with old tools. As our housing market evolves the solutions need to as well. I have been honored to work with such a diverse, interesting and dedicated group of colleagues who have helped move the land bank forward. I look forward to continuing to work with you all as we make the land bank a successful reality. 

Sincerely, 

Bridget Gainer 
Cook County Commissioner - Tenth District 
118 North Clark Street, Room 567 Chicago, IL 60602 
312-603-4210 

From Mayor Rahm Emmanuel, City of Chicago:
"I applaud President Preckwinkle and Commissioner Gainer for their leadership in dealing with vacant properties. The land bank will provide another tool to strategically bring vacant buildings into productive use in cities and towns throughout Cook County."

From Board President Toni Preckwinkle, Cook County:
"I've been to every corner of Cook County, and I've seen first-hand how municipalities struggle to return vacant properties to their tax rolls. This landmark ordinance will help the County combat the foreclosure crisis that has decimated communities. We are going to work hand-in-hand with communities throughout the County to ensure the Land Bank Authority is effective and sustainable."

Read the full text of the approved Cook County Land Bank Ordinance:
Additional Resources
Statements of Support
Cook County Land Bank Ordinance in the News
By: Mary Ellen Podmolik, January 15 2013 

By: Lisa Donovan, January 15 2013

By: Judith Ruiz-Branch, January 15 2013 

By: Tony Sarabia, January 15 2013 

By: John Presta, January 16 2013 

By: Ted Cox, January 16 2013

By: Dave Lee Mathews, January 17 2013

By: Christina Mlynski, January 18 2013


By: Ashlee Rezin, February 7 2013

MPC & ULI Chicago Roundtable: "Cook County Land Bank: Returning Vacant Land to Productive Use"
January 15, 2013


Hosted by the Metropolitan Planning Council and the Urban Land Institute Chicago, the roundtable considered the vision for a countywide land bank and how this innovative tool can be deployed to remove redevelopment barriers and jumpstart economic development. Cook County Board President Toni Preckwinkle, myself, Scott Goldstein of Teska Associates, and Jim Rokakis of the Thriving Communities Institute discussed the creation of the county land bank ordinance and how the newly-approved Cook County Land Bank Authority compares to similar efforts outside of Illinois.

Cook County Land Bank Proposal
January 14, 2013


Statement from Commissioner Bridget Gainer - July 24, 2012
           "I am happy to report Cook County is moving forward with an initiative to create what will be the nation's largest land bank. The resolution, sponsored by myself and Cook County Board President Toni Preckwinkle to establish an advisory committee was approved at today's Cook County Board meeting. With a strong focus on collaboration with Suburban Cook County and on economic growth opportunities, the Advisory Committee will set the implementation strategy for the launch of a Cook County Land Bank.

            The most recent census data shows that 9.16% or 199,778 housing units are currently vacant in Cook County and according to a recent New York Times article Cook County has the largest inventory of foreclosed property in the nation. "The data shows that the ripple effects of the foreclosure disaster spread further every day, even in our most stable communities. As the impact continues to grow, so too does the need to match the scope of the solution, to the size of the impact.

            As a Commissioner on the Cook County Board, I have seen firsthand how far and fast the problem of the foreclosure crisis is spreading. What was 15,000 foreclosure fillings in 2005 has quickly exploded to 80,000. Every day we see the ramifications of one of the worst housing crisis many of us have ever witnessed. This is not an issue contained by ward boundaries, city limits or county districts. We must employ these resources in a meaningful and organized methods to reinforce positive growth and development. As housing problems continue to grow, so too does the scope of solution. This is a regional problem that must be met head on through a Cook County Land Bank.

            The resolution directs Cook County Board President Toni Preckwinkle to appoint a wide variety of suburban stakeholders and industry experts to the Advisory Board within 60 days. Subsequently, the Advisory Board will have until mid-November 2012 to create an implementation plan for a Cook County Land Bank.

            I would like to thank everyone who has been supportive of this initiative especially, Cook County Board President Toni Preckwinkle, Metropolitan Mayors Caucus, West Cook County Housing Collaborative, West Central Municipal Conference, Northwest Municipal Conference, South Suburban Mayors and Managers, Bank of America, Chase, Woodstock Institute, Business and Professional People for the Public Interest (BPI), Chicago Metropolitan Housing Development Corporation, Lakeside Community Development Corporation, Spanish Coalition for Housing, Community Partners for Affordable Housing, Hispanic Housing Development Corporation, Brinshore Development, Metropolitan Planning Council, Illinois Development Services Corporation and Oppidan USA."

Statements of Support
Read the full proposal: 
Background Information on the proposal: 
June 19, 2012 Resolution for Cook County Land Bank Advisory Committee:
The New York Times recently cited Cook County as having largest inventory of foreclosed property in the nation. Based on the most recent census 9.16% or 199,778 housing units are currently vacant in Cook County. In addition, there are an estimated 78,014 foreclosures cases currently pending in the Circuit Court of Cook County, an almost 300% increase since 2005, of which 90% end in default judgments, where the homeowner does not appear in court. To address the current vacancies and the coming tidal wave of vacant buildings in our future I propose the creation of a Cook County Land Bank. The purpose of a land bank is not only to return vacant and foreclosed property back to active and reliable tax paying status, but also to be a catalyst to foster quality economic and affordable housing developments that will provide long-term community stabilization, revitalization and preservation.
This is a map which shows the borders of Cook ...

This is a map which shows the borders of Cook County, Illinois and the borders of its townships. (Photo credit: Wikipedia)


The Cook County Land Bank proposal lays out the establishment and implementation of a regional Land Bank. This new entity as proposed does not require State action; the powers enumerated in this proposal are already established in existing State Statute regarding home-rule authority. A Land Bank will build on, organize and administer the tools and resources that have been established by all different levels of government to try and address vacant buildings.

While a Land Bank can do many things, one of its strongest tools allows for sustainable and reliable planning for affordable housing. Cook County, the City and State depend on unreliable federal funds via HOME and LITC for affordable housing. In one of the most dynamic and proactive measures around affordable housing, 12 other states, including Michigan, Ohio, California and New York have used the tools provided for within a land bank as an alternative to conventional affordable housing infrastructure opportunities. In addition to affordable housing, the proposal below lays out a plan to incorporate a comprehensive scattered site rental program, further building on the critical resources hardest hit communities need. A Countywide Land Bank allows for regional equity redisposition whereby it can successfully leverage inventory to positively impact stabilization in hardest hit communities.

In addition, a Countywide Land Bank allows the County and suburban communities to take an active role, without private investor markups, to recapture the homes that left local communities through foreclosure. Homes that are owned by banks are currently being sold to private investors who see the ability to profit from local devastation. These private investors have no accountability to our local communities planning needs or wants. A Cook County Land Bank can hold property for communities until long term plans can be established.

Finally, a Countywide Land Bank allows for regional economic development opportunities. A Countywide Land Bank can incentivize economic growth. Historically, the amount of time and money it takes to assemble parcels of land in older communities has often dissuaded developers and businesses; a Countywide land bank can acquire, hold, and transfer properties to provide communities and the County the tools to prepare underutilized land for investors.

A Cook County Land Bank, designed to address vacant and abandoned buildings regionally will be the thread that connects similar County, State and Federal programs together. Instead of each level of government layering demolition, rehab, rental or disposition programs on top of each other without leveraging the scale of the problem to the size of the market, a land bank can go directly to the core problems communities are facing; vacant and abandoned properties; depreciating home values and the need for comprehensive and sometimes sweeping planning for reuse.

Additional Resources


New Clips 
"Cook County Land Bank one step away from creation" - Chicago Tribune
By: Mary Ellen Podmolik, January 15 2013

"County edges closer to buying up vacant, foreclosed properties" - Chicago SunTimes
By: Lisa Donovan, January 15 2013

"Cook County one step closer to tackling looming foreclosure problem" - WBEZ
By: Judith Ruiz-Branch, January 15 2013

"ULI Chicago Panel of Experts Issue Recommendations for a County-Wide Land Bank" - ULI Chicago News

"Cook County considers land bank to help solve housing woes" - HousingWire
By: Christina Mlynski

"Land bank would revitalize distressed properties" - Chicago Tribune
By: Mary Ellen Podmolik, November 30 2012

"Cook County moves closer to creating land bank"
By: David Lee Mathews, July 24 2012

"Cook County takes steps towards establishing land bank" - Chicago Tribune
By: Mary Ellen Podmolik, July 24 2012

"Cook County land bank committee to be proposed" - Chicago Tribune
By: Mary Ellen Podmolik, June 19 2012

"County official see values in 'land bank' of foreclosed properties" - Chicago Sun Times
By: David Roeder, May 22 2012 

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