The Kankakee Regional Land Bank Authority is an intergovernmental land bank formed to assist local governments in Kankakee County identify, stabilize and return to productive use distressed real property. We focus on properties that are or may be tax delinquent, vacant and abandoned, or dilapidated. Properties we acquire are conveyed efficiently to new owners who will maintain them responsibly going forward. We welcome interested buyers to examine our current inventory or contact us to be notified of new acquisitions into our inventory.

The Kankakee Regional Land Bank Authority is an intergovernmental land bank formed to assist local governments in Kankakee County identify, stabilize and return to productive use distressed real property. We focus on properties that are or may be tax delinquent, vacant and abandoned, or dilapidated. Properties we acquire are conveyed efficiently to new owners who will maintain them responsibly going forward. We welcome interested buyers to examine our current inventory or contact us to be notified of new acquisitions into our inventory.

All of our properties currently have structures and most are 1- or 2-unit residential buildings. We occasionally acquire a commercial property and may acquire vacant lots or land in the future.

Our properties are distressed, meaning they need significant rehab to bring them up to code before they can be occupied. The properties we acquire were tax delinquent, vacant and abandoned, and/or dilapidated. Some have not been occupied for many months or years.

Most will require new electric, plumbing, and/or HVAC. They may require new windows or doors, repairs to siding, repairs or replacement of kitchen and bath fixtures, repair or replacement of flooring, or other significant repairs.

We typically perform required repairs to stabilize the properties before we sell them. Stabilization usually involves replacing or repairing the roof(s), replacing or repairing foundations, addressing structural issues or termite damage, and may include partial or full demolitions of interiors. Our goal is to deliver our buyers rehab-ready properties that can be rehabbed and approved for occupancy within 12 months of transfer.

The Kankakee Regional Land Bank Authority offers properties for purchase on a rolling basis and all properties are posted to the KRLBA ePropertyPlus Public Site. If you are interested to purchase a property from the KRLBA, you must complete an application on the ePropertyPlus site. An Apply for this Property button will display if the property is available and if applications are being accepted. The Application itself is simple and contains questions asking about your experience, plans, and capacity to complete a project. Please read the questions carefully and respond completely. You will also be required to provide certain documents, such as proof of financial capacity and a list of properties you own in Kankakee County.

After you submit your application, it is reviewed by staff. The information you provided will be verified and we may ask for additional information. After staff have reviewed the application, it is presented for review and approval by the Board of Directors. The Board meets monthly and applications are presented at the 1st meeting following the completion of the staff review. The entire process generally takes 30-45 days.

Once an applicant is approved, the land bank will proceed to schedule a closing as soon as both parties are ready. We require an earnest money deposit and can conduct the closing online, as a matter of convenience to the buyer. When the closing is finished, KRLBA will record the deed.

KRLBA may acquire a property with unpaid property taxes. Depending on how a property is acquired, unpaid back taxes may be abated prior to disposing of the property to a new owner. KRLBA will also extinguish existing liens, where possible.

All properties are sold “where is/as-is,” however, and prospective buyers are responsible for performing due diligence. If you would like to see a property, you can arrange a viewing with the Land Bank or the Realtor responsible for marketing the property on our behalf.

KRLBA identifies properties based on public records, referrals from our local government members, properties offered via donation by the general public, and through other means. We prioritize properties that can be rehabbed within 12 months of transfer, which serve a strategic purpose, or which advance the goals of the land bank generally. We do not seek to acquire and hold properties any longer than required. We do not acquire or sell occupied properties.

Under Illinois law, a property may be considered abandoned if the property has not been occupied by a lawful occupant for 6 months, has at least two years of unpaid property taxes, and is physically deteriorated or in such a condition that it does or may pose a threat to public health, safety, and well-being. Abandonment has a specific legal meaning and properties must be declared abandoned by a court.

KRLBA is funded through a combination of public grants, earned income from property sales, and direct contributions from our members. Donations of property, cash, or services are welcome and donors may qualify for tax deductions. Please contact us if you would like to donate a property or something of value.