CCLBA Land Transactions Committee
Cook County Land Bank AuthorityChicago, IL 60602 (Directions)
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Reporting
Edited and summarized by the Chicago - IL Documenters Team
Saran Englewood community space, Aries Charter lot in Tri-Taylor, Scavenger Sale
Good morning #Chicago! I’ll be livetweeting today’s Cook County Land Bank Authority Transactions Committee at 10 a.m. for @CHIdocumenters #CHIdocumenters
Access the livestream here: http://www.cookcountylandbank.org/events/cclba-land-transactions-committee-20220204/
09:10 AM Feb 4, 2022 CST
The meeting will be starting shortly!
CCLBA is the largest land bank by geography in the country and was established in 2013 to address the county’s large inventory of vacant residential, industrial, and commercial property.
Rollcall is underway! Some important agenda items include a presentation on two recent purchase-sale agreements and a land transactions report.
There are no public speakers for this meeting.
The first presentation covers the purchase-sale agreement at 937 W 59 St. with the developer Saran Inc. The currently vacant Englewood property would be turned into a community space.
This project aims to create a mixed-use development space for food concepts and an administrative space for textile manufacturers.
Proposed tenants include BLAZN, Friistyle, and Pledgers, and the 2nd floor will be reserved for residential tenants.
These tenants will come together to create a concept kitchen available for local residents. This project connects community members with high-quality cuisine that may otherwise be inaccessible.
Providing quality food improves quality of life, health indicators, and life expectancy. Businesses will also hire local community members and will utilize adjacent vacant lots. These project impacts were created in regards to Englewood’s Quality of Life Plan.
Access the Quality of Life Plan here: https://www.teamworkenglewood.org/eqlp.html
In 2016 the community drafted an updated community-driven Quality-of-Life Plan to address the issue areas deemed most important to the community.
The project intends to create a functioning, effective design and development example that successfully influences new development in Englewood.
“Supporting the rebranding of Englewood as a desired place to live, work and play,” the presentation reads.
The city currently owns the vacant property site. According to Maurice Cox, Saran Inc. can petition for a negotiated sale. Once acquired, major structural changes will be made and finally, muralists and other public art will be incorporated into the site’s exterior.
The purchase sale agreement at 937 W 59th St is unanimously approved at $50,000.
Nick Trevino, president of Snickman Enterprises, LLC, presents the next purchase sale agreement at 4532 W Grenshaw. The purchase price is $59,000.
Snickman Enterprises plans to utilize the vacant lot on site. The project will renovate the existing structure to help expand and increase their business in hopes of creating new employment opportunities.
Trevino notes that the company outgrew its previous location at 616 S Kolmar Ave.
While the purchase price is $59K, the estimated tear down and rebuild costs are $597K. The project will be completed in an estimated 3-4 months.
Here is what the structure would look like after renovations. The Lawndale Business Renaissance Association and the 24th Ward Alderman have signed letters of support for the project. https://t.co/oeWHHDv0Ua
Maurice Cox highlights the site’s land use development historyy. “It raises the question about what will become of (the site)… there aren’t many residents left yet but I don’t want to encroach on their interests.”
Steven Kohn notes that a majority of the area is already industrial and is in favor of the purchase sale agreement.
If approved, Aries Charter - a Chicago charter bus rental company - will take over the vacant lot.
Read more about the company here: https://www.ariescharter.com
The purchase sale agreement is unanimously approved.
The meeting moves on to the land transactions report. Eleanor Gorski commences the presentation with an update on the vacant property holiday giveaway and sale.
The sale launched in December 2021 and saw over 1600 applications for properties located in 27 municipalities, awarded on a first come first-served basis.
Lowering the barriers to entry shows the amount of community interest in these respective properties, Gorksi says.
The sale offers long-vacant properties throughout Cook County for below value prices focusing on community redevelopment. Priority will be given to neighbors who live on the same block, community organizations or non-profits in the community area, and local developers.
Gorksi also outlines CCLBA’s 2022 Scavenger Sale. The sale offers outside investors the opportunity to purchase properties in debt, potentially for less than what’s owed.
Read more on the biennial Scavenger Sale: https://www.cookcountylandbank.org/in-scavenger-sale-land-bank-sees-big-opportunities/
The sale starts on Feb 14 through March 2. The in-person auction will take place at 69 W Washington where over 30,000 tax certificates will be offered.
Committee members also voted to approve previous meeting minutes before motioning to end the meeting. The meeting is adjourned.
Thanks for following along! Respond to this thread with any questions or comments and be sure to follow @CHIdocumenters!
Attachments
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Agency Information
Cook County Land Bank Authority
The Cook County Land Bank Authority acquires, holds, and transfers interest in real estate properties throughout Cook County to promote redevelopment and reuse of vacant, abandoned, foreclosed or tax-delinquent properties and support targeted efforts to stabilize neighborhoods. It was formed by ordinance of Cook County in 2013 to address the large inventory of vacant residential, industrial and commercial property in Cook County. The CCLBA is the largest land bank by geography in the country and is governed by a Board of Directors appointed by the Cook County Board of Commissioners.
Remote meetings have been held via Zoom. CCLBA’s website calendar indicates meetings with dots; if you click on a date with a dot, then click on the event listing that appears below, you’ll be taken to a details page for that meeting. A Zoom webinar registration link is usually posted there closer to the scheduled meeting date.