06/07/2026
VACANT TO VALUED:
The property at 52 N. Bailey St. was sitting empty for years, overgrown and in disrepair. Today, after the Northern Illinois Land Bank (NILBA) stepped in, you’d never know.
When the City of Freeport referred this property to NILBA for acquisition, it was saddled with $16,000 in unpaid taxes and other debt accumulated over six years. NILBA cleared its title and liabilities and sold to a motivated private developer. The new owner intends to restore the home as a rental property.
Once Land Bank properties are purchased, they are required to complete renovation within nine months or demonstrate continuing progress. The developer met that standard, securing permits, resolving structural issues uncovered during inspection and completing all work in just 10 months. This house is now ready to welcome a family.
After its renovation, the property value has nearly tripled, restoring the value of the home and those in the neighborhood. More than that, we will gain a new resident – a neighbor who has the opportunity to integrate into the community, becoming another vibrant thread in the tapestry of Freeport.
The City of Freeport joined NILBA in 2019 to receive support in cleaning up abandoned sites and recouping essential tax funds.