3 'Abandonment to Rehab' projects completed in Decatur

DECATUR, Ill. (WAND)- The Central Illinois Land Bank Authority has finished renovations on three more "Abandonment to Rehab" projects in Decatur.

The program is designed to provide affordable homeownership opportunities for residents of the city. Over the past year, CILBA has completed eight extensive renovations, transforming abandoned properties into affordable homes.

Thanks to funding from the Illinois Housing Development Authority’s (IHDA) Strong Communities grant and the City of Decatur’s American Rescue Plan, CILBA successfully completed gut rehabs at 1276 W Marietta, 1570 W Forest, and 2198 E Hendrix.

CILBA’s Executive Director, Mike Davis said “these gut rehabs are difficult projects and none of this work happens without partners like the City of Decatur and IHDA. Whether it’s a local nurse, teacher, firefighter, or police officer – these homes are great opportunities for first time homebuyers and help preserve the City’s tax base.”

Land of Lincoln Credit Union played a significant role in these projects. The Credit Union recognized 1570 W Forest as a rehabilitation opportunity and provided a low-interest line of credit to emerging contractors involved in several rehab projects. Additionally, the Credit Union offered a line of credit to the land bank to help bridge the gap until the state reimbursed grant funds.

Decatur’s Mayor, Julie Moore Wolfe, said “the rehab work that CILBA has accomplished the last two years aligns with the City’s goals of preserving homes, preventing the next wave of demolitions, and strengthening our neighborhoods one block at a time. We hope that prospective homebuyers will use the City’s Down Payment Assistance Program on homes like this.”

Open Houses for the properties located at 1276 W Marietta and 1570 W Forest will be held on Sunday from 2:00 to 4:00 p.m. by Main Place Real Estate. Both homes are listed for sale on MLS.

Additionally, an Open House for a complete renovation at 2198 E Hendrix is scheduled for April.