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Updated over 1 year ago, 06/11/2023
Obtaining vacant/abandoned or neglected properties
I recently came across some information on conservatorship in regards to neglected and dilapidated properties. I was wondering if there was a strategy or way to work with the city to take over high tax liable properties that have been neglected or seemingly abandoned? It seems the resources to continue maintaining abandoned properties (weeds, garbage removal, graffiti removal, etc...) would add up and the city would like to offload that responsibility to someone.
I rather not go to sheriff sale, as I'm tied up in my current properties and don't want to drop large portions of capital on empty lots/building falling apart.
But the premise is that, I being a responsible and code abiding investor will take over liabilities to the city so that all responsibilities will be shifted over to me. There is a lot of land next to one of my properties that has been apparently abandoned and definitely neglected that is a headache as it affects the appeal to my building and the rest of the block.
If anyone has experience in this, would appreciate any insight.