slider1-bkgThe Cook County Land Bank Authority (CCLBA) is accepting applications from individuals and organizations who are interested in conveying property to the CCLBA.  All acquisitions are governed by the CCLBA’s Policies and Procedures, and are intended to achieve general and specific priorities.  Consideration will generally be given to property whose potential use, condition, and cost to convey align most closely with CCLBA goals, and which provide the CCLBA the greatest level of confidence that the property conveyed/donated to the CCLBA can be put to productive use. Some frequently asked questions (FAQ’s) on the process are available below:

Q: ⇒ What the first thing I should do?

Donors should go the CCLBA’s website and complete and submit the Pre-Qualification Donor Form. This gives us some basic information on the property(s) being donated and helps us in the review process.

Q: ⇒ How long will it take you to review my offer and make a decision?

Given that we have all necessary information, no longer than 30 days. You will be notified once a decision is made.

Q: ⇒ If I am approved, how long will the donation process take?

The donation process varies from property to property. Every effort is made to ensure that it will be as simple and as timely as possible.  Please note that the Donor is typically responsible for ordering the title commitment and survey as well as preparing all of the documents required for closing.

Q: ⇒ Who pays the expenses and what will they be?

All expenses incurred during the process are generally the responsibility of the Donor. The most common expenses are listed below:

  • Title Commitment/Policy
  • Escrow Services
  • Title and Closing Fees (Water Certification, Deed Recording, Etc.)
  • Survey
  • Legal Fees
  • Appraisal Environmental (for commercial/industrial properties only)
  • Feasibility Study (for commercial/industrial properties only)

Q: ⇒ What about Real Estate Taxes?

The Donor will be responsible for paying past, current, and their pro-rata share of future real estate taxes. They will also be responsible for paying real estate transfer stamps.

Q: ⇒ What basic documentation do I need to have?

  • Copy of the deed from when you acquired the property.
  • Copies of any property tax statements.
  • Completed Pre-Qualification Donor Form
  • Copies of any known building code violations.

Q: ⇒ How will title be conveyed to the CCLBA?

CCLBA will accept a Warranty Deed, Special Warranty or Quit Claim Deed, in the name of Cook County d/b/a Cook County Land Bank Authority.

Q: ⇒ Does the property have to be lien-free?

Yes. Liens can also be paid off at the closing so that the CCLBA can take the property lien-free.

Q: ⇒ Does the property need to be vacant/un-occupied?

Yes. The CCLBA only accepts vacant properties.

Q: ⇒ Do I need a lawyer?

CCLBA recommends that all Donors have their own legal representation.

Q: ⇒ Is an appraisal required?

For commercial and industrial properties, an appraisal is required. For residential (1-4 family) properties, that decision is made on a case-by-case basis. However, please note that the Donor is responsible for substantiating the value of the property/gift in order to receive a charitable tax deduction from the Internal Revenue Service (IRS). Please consult an attorney for more details.

 

Please complete this form in its entirety.  Incomplete applications are unable to be submitted and will not be on file with the CCLBA.

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BACKGROUND INFORMATION








PROPERTY DESCRIPTION
*NOTE: If you do not know the property's PIN, please consult consult the Cook County Assessor's website, located at http://www.cookcountypropertyinfo.com/, and search by address.



*NOTE: To find out if there are any delinquent taxes on the property, please consult the Cook County Clerk's website, located at http://cookcountyclerk.com/tsd/delinquenttaxsearch/Pages/DelinquentTaxSearch.aspx, and enter the corresponding PIN to find that information. To find if there are existing liens on the property, please consult the Cook County Recorder of Deeds, located at http://cookrecorder.com/search-our-records/, and enter the same PIN.

REQUIRED DISCLOSURES

The property status will not disqualify a donation, but will assist CCLBA in understanding the nature of the property being donated. All information provided will remain confidential and will not be shared with any third parties without the consent of the donor.






ACKNOWLEDGEMENT
In submitting this form, I acknowledge the following:

Please acknowledge that you have read, and will abide by the terms described in the application by printing your name below:

 

Thank you for submitting an interest in conveying/donating property to the CCLBA.  A follow-up email has been generated confirming that the application was received.  If you have any further questions or concerns, please feel free to either email us at info@cookcountylandbank.org, or call at (312) 603.8015.