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Cook County Land Bank Authority
PI Original
by Ellyn Fortino
3:07pm
Mon Sep 8, 2014

Chicago-Area Foreclosures Hit Pre-Recession Levels, But The Housing Crisis Is Far From Over

Chicago's six-county region recorded 13,916 new foreclosure filings in the first half of 2014, a nearly 38 percent drop from a year ago and the lowest level reached since 2007, according to a report by the Woodstock Institute. Local housing activists working to help struggling homeowners offer their take on the new data as well as policies meant to stymie the ongoing negative effects of foreclosures.

Quick Hit
by Ellyn Fortino
1:17pm
Fri Aug 15, 2014

Albany Park Community Land Trust Close To Locking In First Home Donation (VIDEO)

Leaders with Centro Autónomo in Albany Park say the group's effort to establish a community land trust to secure affordable housing in the northwest Chicago neighborhood is moving forward.

Centro Autónomo, also known as the Albany Park Autonomous Center, is currently asking financial institutions to donate local homes in foreclosure to its Casas del Pueblo Community Land Trust, a non-profit that wants to turn the properties into permanent affordable housing for low-income residents. Both Casas del Pueblo and the Centro Autónomo are projects of the Mexico Solidarity Network.

So far, no homes have been donated to the community land trust, which officially launched in 2011. But Antonio Gutierrez, housing coordinator at Centro Autónomo, said the organization has a negotiation session planned for September with Fannie Mae. Another meeting with a national representative of donations for Wells Fargo is scheduled for the end of August.

Gutierrez and others with the effort are optimistic the community land trust will receive its first donated home within the next several months. 

"Casas del Pueblo needs to put as much pressure as we can right now [on the financial institutions], because this is a time when we're almost sure that we can get this donation by the end of the year," he said.