Buying From the Chicago Land Bank: City Lots vs Cook County

Chicago confuses buyers because there isn't one "Chicago land bank" — there are two systems with very different inventory and prices. Sort out which one holds the property you want and the whole market gets simple.

The two systems

City of Chicago vacant lots — the big, cheap, lot-only program. The city holds 6,500+ vacant parcels and sells them through its own applications, with a dedicated side-lot path for neighbors. Almost all vacant land, priced low.
Cook County Land Bank Authority (CCLBA) — the countywide agency that takes tax-foreclosed property and works the housing side: vacant lots, as-is rehab projects, and some renovated homes. About 1,000 active listings, ~210 with a structure, and — because many are rehabbed or rehab-ready — a posted-price median in the tens of thousands, far above the city lots.

When people search "Chicago land bank," they usually mean CCLBA. When they want a cheap lot, they want the city program.

Why the prices look so different

This is the key to Chicago. The city lots are raw land priced for reuse — a few hundred to a few thousand dollars. The Cook County Land Bank often sells houses that have already had work done, so its stickers reflect a partially or fully restored property, not a back-tax lot. A $49,000 CCLBA home and a $500 city side lot are both "the Chicago land bank" — they're just different products.

Browse the live Chicago city lots for the cheap land and the Cook County Land Bank inventory for the houses.

The buying process

Identify which system holds the parcel — city lot or Cook County.
For a cheap lot: apply through the city's program; adjacent owners get the side-lot path.
For a house: apply through CCLBA, which clears back taxes and title and may attach rehab conditions.
Budget the real number. A cheap lot still carries closing and upkeep; a rehab home is a full project even at a "renovated" price — check it against neighborhood comps.

Where Chicago fits

Illinois is the clearest example of the application-priced, program-split model — see the Illinois state guide. For the cheapest entry, the city vacant lots are among the largest such programs in the country; for a house with the title already cleaned up, Cook County is the safer, pricier path.

Start here

Frequently asked questions

Does Chicago have a land bank?

Two systems, really. The City of Chicago sells thousands of city-owned vacant lots through its own programs, and the Cook County Land Bank Authority handles tax-foreclosed property countywide, including rehab and rehab-ready houses. 'The Chicago land bank' usually means the Cook County one; the city lots are a separate, larger, lot-only program.

How much do Chicago land bank properties cost?

It splits sharply. City-owned vacant lots are priced by application and often sell for a few hundred to a few thousand dollars, especially side lots for neighbors. Cook County Land Bank homes are different — many are rehabbed or rehab-ready, so posted prices there run much higher, with a median in the tens of thousands.

How do I buy a vacant lot in Chicago?

Through the city's lot programs. You find a city-owned parcel, apply with a proposed use, and — if you own the adjacent property — the side-lot path is the cheapest and fastest. Prices are set during review rather than posted as a fixed sticker.

What does the Cook County Land Bank sell?

Tax-foreclosed property across Cook County, with a focus on getting houses rehabbed and reoccupied. It sells vacant lots, as-is rehab projects, and some renovated homes through applications, clearing back taxes and title before transfer. It's the houses-and-rehab side of Chicago's cheap-property market.