How much does land bank property cost in Illinois?

It splits sharply by program. Cook County Land Bank listings we track have a median asking price around $49,000 — real houses in Chicago and the south suburbs, priced for rehab economics. Peoria's city lot program is at the other extreme: over 1,000 lots sold through a low-cost application process.

Is the Cook County Land Bank different from other land banks?

Mostly in price point. It acquires tax-delinquent houses in Chicagoland and resells them to rehabbers at prices that reflect Chicago-area values, so expect tens of thousands rather than hundreds of dollars — and correspondingly stronger exit comps.

Can investors buy from Illinois land banks?

Yes. Cook County's program is explicitly built around selling to rehabbers with a track record and proof of funds. Peoria's lot program serves adjacent owners and local buyers first. Each program sets its own rules — check the profile and official site.

Do Illinois land bank properties come with clear title?

Title clearance is central to the Cook County Land Bank's model — it's a big part of what you're paying for versus buying at the county tax sale. Smaller programs vary; confirm the parcel's title status and any deed conditions in writing.

How to Buy Land Bank Property in Illinois (2026 Guide)

Illinois land banking runs at two completely different price points. The Cook County Land Bank sells rehab-ready Chicagoland houses at a median asking price around $49,000 — the most expensive land bank inventory we track, because the exits are Chicago exits. Meanwhile Peoria's city land bank lists 1,100+ vacant lots through a low-cost application program. In total: 2,100+ properties across the Illinois programs we track, and eight land banks statewide.

The Illinois landscape

All eight are profiled in our directory. The tracked inventories:

Cook County Land Bank Authority — 1,000+ parcels across Chicago and the south suburbs; about 200 flagged as structures in our data. Priced listings run from $350 lots to six-figure buildings; the median around $49,000 tells you this is rehab-house territory, not $500-lot territory.
City of Peoria Land Bank — 1,100+ city lots, application-based rather than price-tagged. Side lots for adjacent owners are the core program.
Kankakee Regional Land Bank — a small rotating list, typically priced.

Directory-only (no public feed we track yet): Northern Illinois Land Bank Authority (Rockford region), Central Illinois Land Bank Authority, Quad-Cities, Two Rivers, and Lake County — regional land banks formed by intergovernmental agreement, worth checking directly if you invest in those areas.

What's listed right now

Browse the live Illinois map for current counts and locations.

The Illinois buying process

The standard playbook applies — full guide here — with these Illinois specifics:

Find the parcel on the map; the listing links to the selling program.
Cook County: treat it like a rehab acquisition, not a lottery ticket. Proof of funds and a renovation plan are standard; the land bank wants completed rehabs, and its pricing already assumes you'll do one. At this price point, financing is realistic — 203(k) and renovation loans pencil in a way they don't on $2,000 parcels.
Peoria: the lot program is application-driven and favors neighbors and local buyers. It's the classic side-lot playbook — low cost, real maintenance obligations.
Everywhere: as-is sales, deed conditions, and block-level homework. The first-timer's guide covers judging a block; Chicago's south side and south suburbs demand it.

Cook County's model also makes the land bank vs. tax sale question unusually concrete in Illinois: the county's scavenger tax sale is the messy, lien-risky alternative the land bank was created to bypass.

Start here

Live Illinois inventory map
All Illinois land banks, profiled
What is a land bank? if the model is new to you