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March 22, 2021 12:54 PM UPDATED 3 HOURS AGO

Cook County Land Bank leader stepping down

Rob Rose is leaving the agency tasked with helping revive distressed housing on the city's
South and West sides. It came under scrutiny during his tenure following reports of
questionable deals.
DANNY ECKER

Rob Rose is leaving the agency tasked with helping revive distressed housing on
Rob Rose
the city's South and West sides. It came under scrutiny during his tenure following
reports of questionable deals.

The head of the Cook County agency designed to give new life to tax-delinquent houses is
leaving his post after a six-year run.

Rob Rose, who took over as executive director of the Cook County Land Bank Authority in
2015, today confirmed he will step down at the end of June following a short-term extension
of his contract, which expired March 15.

Rose has led the Land Bank for most of its existence, taking the helm two years after the
Cook County Board launched it to help address the area's massive inventory of foreclosed
homes. The agency was designed to expedite the process of turning around distressed
residential properties by acquiring them and clearing away tax liens and other debt before
selling them to developers. The homes are then rehabbed and ideally sold, restoring their
property tax value to the county.

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Chicago needs more Black, Brown developers

The Land Bank grew its portfolio to nearly 1,200 properties from 30 when Rose took over,
according to a statement from the agency announcing new board members and Rose's
departure. Under his leadership, the Land Bank created "more than $100 million in
community wealth, expanding home ownership in minority communities and enabling more
Black and Latinx developers to bring jobs, affordable housing to their own communities," the
statement said.

The Land Bank also came under scrutiny during Rose's tenure following reports by the
Chicago Sun-Times over the past couple years about questionable dealings, such as the
sale of a suburban home to Rose's assistant. In one high-profile controversy, the Land Bank
wiped out more than $200,000 in back taxes and interest on a property owned by 34th Ward
Ald. Carrie Austin's chief of staff, then sold the building for $40,000 to the aide's former
business partner, the Sun-Times reported.

The publication first reported today that Rose was resigning from his job, which paid him
$225,000 per year.

Rose, 50, told Crain's his departure had nothing to do with the Sun-Time reporting, but was
instead the product of a "conversation" with the Land Bank board "and my own personal
decision about what I want to do," Rose said. He added he plans to pursue private-sector
work, likely continuing to work with local community developers.

"We're at a moment now where people want to understand how they can be impactful with
their investments in the Black community," he said. "I feel like I'm at a point in my career and
in my life to be able to understand the issues and pull together resources."

Rose praised efforts to stem disinvestment in poorer areas of the city, including Mayor Lori
Lightfoot's Invest South/West initiative, which aims to channel $750 million in public
resources into blighted commercial corridors in 10 South and West side neighborhoods. But
he said the work of the Land Bank to address housing issues is crucial to rebuilding parts of
the city most developers won't touch.

"It's the blighted houses, the vacant lots, the wasted opportunity—that's where you've got to
dig in and do this work. It is the necessary blocking and tackling that we have to do in order
to rebuild neighborhoods," he said.

Rose also led the Land Bank to its first commercial property deal, acquiring the deed in late
2017 to Woodlawn's dilapidated Washington Park National Bank building and later reaching
an agreement to sell it to a venture led by Chicago developer DL3 Realty to redevelop the
property.

The Land Bank said in the statement it is beginning a national search for Rose's
replacement.

Under Rose's leadership, "we've shown that local developers can remove blight, build a
business and create beautiful homes that help families across Cook County achieve their
dream of homeownership," Cook County Board Commissioner Bridget Gainer said in the
statement. "The board is grateful to Rob for making the Land Bank an entity that makes a
real difference in Cook County."

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