Land bank will take ‘calculated risk’ in 26 areas

Map: Courtesy of the Cook County Land Bank Authority

Humboldt Park is in. So are East Garfield Park and Woodlawn in Chicago and suburbs like Maywood, Matteson and South Holland.

The Cook County Land Bank Authority has identified 13 city neighborhoods and 13 west and south suburbs where it will aggressively buy vacant, abandoned single-family homes and small multifamily buildings and hold them, waiting for a buyer.

But other Chicago neighborhoods hard hit by the nation’s housing crisis are out. North and South Lawndale, Englewood and West Ridge are not going to get focused attention and investment from the land bank because there is “too much to overcome,” said Rob Rose, the land bank’s new executive director…Please click here to read Mary Ellen Podmolik’s story in the Tribune.