April 8, 2014

Zombie Properties

WTTW News

Thousands of zombie properties — vacant homes that weren't sold at auction or remain unoccupied and in the foreclosure process three years after filing — are found in Chicago and Cook County. Real Estate Partner Peter Friedman discusses the issue and explains how these properties can be given new life with a productive use.

“It can be something else. It can be a house, it could be a community center. It can be for properties that, if it doesn't make economic sense or because of the community plan, it doesn't need to be there, it may become a park, it may become a garden or a farm,” Mr. Friedman said.

Duration: 7:04 (Mr. Friedman begins his discussion at 4:30)

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