The Cook County Land Bank Authority, an agency created in 2013 to help attract developers to tax-delinquent properties, announced on Nov. 26 that it's giving away a move-in ready, fully rehabbed home in Maywood to the winner of the authority's Home Giveaway Lottery.
The lottery, Land Bank officials said, was introduced last year "as a way to raise awareness for the Land Bank's Homebuyer Direct Program, which breaks down barriers to homeownership and helps transform communities by offering fixer-upper homes across Cook County at below-market prices."
Interested individuals have until Dec. 14 to register for the lottery, the winner of which will be announced on Dec. 21. Land Bank officials said that they will not disclose the exact address of the home, only confirming that it is located in Maywood.
"Through initiatives like the Homebuyer Direct Program, we are working every day to eliminate barriers that have historically kept home ownership out of reach for many residents," said Rob Rose, the executive director of the Cook County Land Bank Authority.
Houses in the Homebuyer program range between $30,000 and $180,000, and are located in Chicago neighborhoods like Roseland, Auburn-Gresham and South Shore, as well as in suburbs, Land Bank officials said.
Interested buyers can work with brokers to purchase the homes with cash or financing. There are no income restrictions on buyers.
According to an FAQ on the lottery posted to the Land Bank's website, employees who work for the county or the village of Maywood are not eligible to register. The Land Bank will only accept one person per entry and interested registrants must be at least 18 years old, among other requirements.
For a list of other lottery details or to register, visit: cookcountylandbank.org/what-are-you-looking-for/homebuyer-direct-program/.
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