The sustainability and economic competitiveness of alkali activation technology greatly depends on expanding the raw materials database with locally available resources. Therefore, a notable trend has been witnessed toward the exploitation of common clays as alternatives to well-established solid aluminosilicate precursors due to their availability and wide geographical distribution. However, common clays are complex and dedicated research is needed to tailor synthesis procedures and mix designs for different clay resources. This paper describes the outcomes of a study conducted to investigate the influence of several synthesis parameters (solid-to-liquid ratio, NaOH molarity, Si availability, and curing conditions) on the properties of alkali activated binders produced from different thermally modified clays. Optimal synthesis conditions for benchmark metakaolin systems have been identified and binders were produced with progressive dosages of metakaolin replacement by common local clays. Fundamental physical and mechanical properties such as apparent density, open porosity, water absorption, and compressive strength were examined at different curing ages, and X-ray diffraction (XRD) was used to provide complementary mineralogical insights. By combining the effects of the parameters studied, mortar specimens were produced with the developed binders, reaching compressive strength values exceeding 28.2 ± 0.1 MPa, a bulk density as low as 1.78 ± 0.0 g/cm3, and open porosity and water absorption values lower than 15% and 8%, respectively. These properties are comparable to those of conventional hydraulic products, which presents them as interesting candidates for construction. Ultimately, this work aims to contribute with valuable insights toward the valorization of a large group of unexploited clay precursors by demonstrating the feasibility of producing technologically competitive alkali activated materials with little or no use of the prime precursors, thus adding to the extant knowledge and contributing to future scientific and industrial developments in this field.