Cook County Board President Toni Preckwinkle and The Cook County Land Bank Authority will announce the winner of its third annual home giveaway, sponsored by Fifth Third Bank, at 10 a.m. on Friday, Oct. 18. The newly rehabbed single-family home, modernized by HGTV’s popular twin Downing Brothers, is located in the Washington Heights Neighborhood on Chicago’s South Side. The winner of the home will be surprised with the announcement during a ribbon-cutting ceremony at the home on Friday, Oct. 18.
The Land Bank’s home giveaway raises awareness of its Homebuyer Direct Program, which enables people to purchase vacant, abandoned homes at below-market rates, rehab them and earn immediate equity. Since its inception in 2017, the Homebuyer Direct program has provided more than 140 homes to homebuyers and earned them an average of $20,000 in equity. The program focuses on boosting homeownership in areas where lingering effects of the 2008 mortgage crisis slowed community development and left a glut of vacant and abandoned properties in Cook County.
About Post Author
