Illinois Attorney General Lisa Madigan announces a $300 million settlement related to the foreclosure crisis, much of that will go into the state's beleaguered pension system. It's part of a record national $17 billion settlement with Bank of America. Paris Schutz has the latest.
Boarded up homes; distressed neighborhoods -- Chicago is struggling to deal with the fallout of the foreclosure crisis on top of depopulation on the south and west sides. The city is tearing down abandoned properties that are magnets for crime. But what else can be done to reshape troubled areas? We talk with Cook County Commissioner Bridget Gainer, who spearheaded the creation of the Cook County Land Bank, and Marshall Brown, an architect, urban planner and professor at the Illinois Institute of Technology.
A Year in the Life of a Foreclosure Rehab
Millions of dollars in federal grants have been allocated to stem the tide of foreclosures in Chicago neighborhoods. We show you the results of a developer’s rehabbed homes -- one year later.