Vacant Properties

In the wake of the 2008 housing crisis, an alarming number of once occupied homes stood vacant due to foreclosure. In 2012, Woodstock and our partners took action to hold mortgage servicers accountable for property maintenance.

Woodstock Institute’s 2011 report, “Left Behind: Troubled Foreclosed Properties and Servicer Accountability in Chicago,” identified the troubling trend of banks walking away from foreclosures, leading to a higher likelihood of these properties becoming vacant. Vacant buildings are at high risk of falling into disrepair and having a significant negative effect on the surrounding community. 

Woodstock began advocating for an ordinance that would require mortgage servicers to maintain a property that has become vacant, even before they take ownership through foreclosure. The proposal found widespread support; the Chicago City Council implemented its vacant buildings ordinance in late 2011, and the Cook County Board of Commissioners followed suit in early 2012. It was the first of its kind, and in May 2012, Chicago mayor Rahm Emanuel’s office released data showing the ordinance was already making a difference in how the City holds financial institutions responsible for vacant property maintenance.

Commissioner Bridget Gainer was the sponsor of the Cook County ordinance, which passed unanimously. “The ordinance was a first step for the County to be part of the solution to help stabilize communities throughout the County suffering under the burden of increased foreclosures and the resulting vacancies,” said Gainer.

Gainer continued her work on the issue, proposing a county land bank authority to process vacant properties and return them to productive use. Woodstock advocated strongly in support of the land bank, testifying before the Cook County Board of Commissioners. “A land bank is necessary for stabilizing vacant homes and recovering from the foreclosure crisis,” said Woodstock President Dory Rand, “and would help attract responsible investors to hard-hit areas, ensure that economic recovery supports community priorities, and make neighborhoods impacted by foreclosures more attractive and secure places to live.”

Woodstock and our partners celebrated another victory when the Board of Commissioners approved the Land Bank Ordinance in January 2013. “We relied on Woodstock’s expertise for both the Cook County Vacant Building Ordinance and the establishment of the Cook County Land Bank Authority,” said Gainer. “Woodstock’s leadership on this and other issues has created positive, lasting effects in Chicago and throughout the region.”

Woodstock continued to produce research that helped local governments address the vacant buildings problem. In June of 2013, Woodstock released “Deciphering Blight: Vacant Buildings Data Collection in the Chicago Six County Region.” The report summarized how local governments currently collect information on vacant buildings and found significant gaps and variations in the data being collected.