HomeStart Properties Available to Acquire

HomeStart has 19 empty lots in Freeport, Illinois, and we would like to transfer ownship of those to someone who will put that property back into good use. Fifteen of them are available now, and the last four will be available in the spring of 2021.  For a complete list of the addresses, click here:

Our board has approved the following procedures and policites for these properties:

For the empty lots that are currently in HomeStart’s possession, the following are the procedures in place for anyone looking to buy or take over ownership of any of the lots.  They are listed in order of priority, meaning that we will work with adjacent property owners first.  However, if no adjacent property owner is interested or capable of taking over the lot, then we will accept requests from non-profits or bids from prospective buyers. All agreements (Quit Claim or Real Estate Agreement for Sale) must state that the buyer is accepting all responsibility for the property, including the price of a title policy if you choose to secure one.

  1. Adjacent Property Owners – HomeStart will give priority to an adjacent property owner, and would give the property to that owner through a Quit Claim Process. To qualify, the property owner must submit the following:
    1. Written request for the property, including your name, address, and phone number.
    2. Proof of ownership – mortgage statement (must be current) or deed
    3. Must have no unresolved code violations on your current property
    4. Proof of paid property taxes – must be current
    5. Proof of homeowner’s/property insurance
    6. 2019 Federal Income Tax papers – 1st page; OR, if you are not required to file taxes, income documentation demonstrating you can sustain the property tax payments.
  1. Non-profit interested in Community Stabilization – HomeStart will consider executing a Quit Claim of property to a non-profit organization. To be considered, you must submit the following:
    1. Written request for the property, including reason for interest and intended use of the property. Additionally, please specify how the organization will pay for and sustain payment for the property taxes and liability insurance needed for the property.
    2. Updated Income Statement (with YTD)
    3. Letter of Incorporation or 501(c)3
  1. An interested buyer – HomeStart will sell the property to the highest bidder. Bids must be submitted by October 23, 2020.

If you have any questions, please call 815-977-8328.

All requests and bids will be presented to our Finance Committee and Board of Directors during the week of October 26, and their decisions will be communicated after that meeting.

Creating choice in housing, community in neighborhoods, and empowerment in personal finance throughout northern Illinois.