The Kankakee Regional Land Bank Authority is beginning to convert long-neglected houses into market-ready assets, with two recent sales headed to closing and several other properties moving through rehab. The activity signals a push to stabilize neighborhoods, expand rental options and bring formerly idle lots back into productive use across Kankakee County.
Trump faces fallout from robust jobs report: economic boom pitch falters
Christopher Breach joins Shaw Local News Network: local reporting to gain new voice
At a board meeting this week, the Land Bank approved the disposition of two residential properties that are scheduled to close within days. The homes — 427–31 S. Chicago Ave. and 762 Webster Circle East in Kankakee — were sold to local buyers for $45,000 and $50,000 respectively. Each purchaser has a 12-month window to complete renovations and prepare the houses for the market.
The agency equipped both houses with basic pre-sale work to make them more attractive to investors. Interim Executive Director Brian White said the new owners plan to rehabilitate the units and operate them as rentals, which is the current plan for turning these assets into income-producing homes.
| Address | Status | Price | Notes |
|---|---|---|---|
| 427–31 S. Chicago Ave., Kankakee | Sold — closing imminent | $45,000 | Buyer: Arturo Gomez (Soling LLC VI). Rehab within 1 year. |
| 762 Webster Circle East, Kankakee | Sold — closing imminent | $50,000 | Buyer: Jose & Nanci Gomez. Rehab within 1 year. |
| 360 S. Elm St., Kankakee | For sale | Listed on KRLBA website | Foundation recently replaced |
| 980 S. Sixth Ave., Kankakee | For sale | Listed on KRLBA website | Available to investors |
| 1065 S. Fourth Ave., Kankakee | For sale | Listed on KRLBA website | New roof installed |
| 254 W. Merchant St., Kankakee | Demolished / available | Side lot: $1,000; Market price: $7,000 | $35,000 demolition paid via state grant; adjacent owners interested |
| 217 E. Court St. (former Jaffe Drugs) | For sale | $99,900 | Three-story commercial building; needs fire-code upgrades |
The Land Bank currently lists three residential properties online and says another nine parcels are nearly ready to be released to buyers. Staff expect to do additional exterior work — primarily roofs and similar repairs — to improve curb appeal before sale.
Funding from the Illinois Economic Development Association is being used for targeted demolition and debris removal. The agency paid $35,000 to the city to clear the corner lot at West Merchant Street; that cleared parcel is being offered first as a side lot to adjacent homeowners for $1,000, with the stipulation that the purchaser must already control at least 75% of the adjoining property. If no adjacent owner purchases it, the lot will be listed publicly at an estimated fair market price of $7,000.
- What buyers must do: Complete rehabs within 12 months to place properties back on the market or into rental service.
- Short-term fixes: The Land Bank will prioritize roofs and other essential repairs to attract investors.
- Policy goal: Move vacant parcels into private ownership to reduce blight and increase usable housing stock.
Board President Lisa Sanford said the program’s pipeline is improving and that the organization wants to see properties turned into assets that benefit neighborhoods. She asked the community for ideas on higher-profile projects, particularly regarding the downtown commercial building at 217 E. Court St., once home to Jaffe Drugs. That three-story structure is on the market for $99,900 but requires work to meet current fire-safety standards; the board is seeking input on potential uses that would make a visible, positive impact on downtown.
White, who is based in Chicago but works with clients nationally, has been touring properties in and around Kankakee County. He argued the local real estate market is more active than some outsiders assume and underscored the Land Bank’s intention to expand its reach beyond city limits to serve the entire county.
As dozens of parcels progress toward sale or redevelopment, the Land Bank’s next steps will determine whether this burst of activity results in long-term neighborhood improvement, more rental options, and reduced vacancy rates across Kankakee County. For now, officials say the momentum is building and the focus is on turning cleared lots and rehab-ready houses into stable, productive properties.
