The pervasiveness and devastating effects of vacant, Real Estate Owned (REO) properties– properties that have been repossessed by lending institutions but not yet resold on the market– is visible throughout Chicago but most abundant in communities of color, notably, Black or African American neighborhoods. ANI is committed to exploring both the reason behind this disparate devastation and workable solutions such as the Cook County Land Bank. Based on research thus far it appears:
- Approximately 22 new vacant buildings are reported DAILY according to 311 data analysis.
- Over 20,500 unique addresses have been reported as vacant buildings since January 1, 2010.
- Neighborhoods where vacant properties are most abundant are communities of color, particular predominately African American Neighborhoods.
- Current research indicates that 5 neighborhoods (Englewood, West Garfield Park, Chatham, Bronzeville and West Englewood) account for roughly 1/4 of all the City’s reported vacant properties.
- Over 5 new vacant properties are reported daily in these neighborhoods.
Find out more about all of ANI’s Foreclosure work.
For additional information or questions please contact:
(O): 312- 676-4271