Geoff Smith and Sarah Duda

This report analyzed Chicago region foreclosure auction and property transfer data and found that vacant, lender-owned properties are heavily concentrated in African American communities, go unsold longer, and incur greater losses to the lender than similar properties in predominantly white communities.

press release

Geoff Smith and Sarah Duda

The following report illustrates the relationship between foreclosures and vacant properties in the City of Chicago.  It combines data from the City of Chicago on vacant and potentially vacant buildings with data on foreclosure filings, completed foreclosure auctions, and property transfers to better understand the number of vacant properties that have at some point been part of the foreclosure process.  It identifies a group of “red flag” properties which are troubled vacant properties where a foreclosure has been filed, but no outcome has been reached.  The report also identifies a group of lender-owned, foreclosed properties that are most likely vacant and not in compliance with the City of Chicago’s vacant building regulations. The report ends with policy recommendations to address problems associated with troubled, vacant foreclosures. Included are appendices of troubled, foreclosed vacant properties by Chicago community area and ward.

Press release |  Fact sheet |  Briefing (mp3)