Successful Land Bank property rehab in Park Forest, Illinios.
The distressed property was acquired by the Land Bank and absolved of any outstanding issues. Vanessa Davenport activated the property with the assistance of a contractor. In four months, the project was successfully completed contributing to the revitalization of the community.
Key steps involved:
Trying to get the home under contract
Trying to find a lender for rehab and purchasing cost
Finding general contractors within budget
Private inspector involved
Gutted whole home to the studs
Four month rehab, including roof
Project challenges:
Dealing with the general contractor and collaborating with them on ideas was harder and required a copasetic vision. After the project was complete, the contractor agreed Vanessa had a great eye and saw a vision even they did not see.
Community impact:
Neighbors said the home had been vacant for over 10 years and are happy new life has been brought to the neighborhood. When rehab costs ran out, Vanessa was still dedicated to completing the project and spent time and money for tree removal, landscaping, and everything pertaining to the outdoors. The neighbors appreciated this rehab for the neighborhood.
“Take a chance on yourself. Find the right team, make sure you budget properly and on point! Research resources and utilize all that you have to get what you want.”
— Vanessa, homebuyer
