Chicago selling 4,000 vacant lots for $1 starting today
CHICAGO — The city of Chicago will start selling 4,000 empty lots today to nearby homeowners for just $1 each.
The city seized the neglected properties in tax sales or demolitions.
The residential lots will be put up for sale starting today in 33 communities on the city’s South and West sides.
Eligible buyers must own property on the same block as the lot, be current on their property taxes and have no outstanding debt to the city, according to the Chicago Tribune.
“The Large Lots Program turns vacant lots into neighborhood assets that benefit neighbors and communities,” Mayor Emanuel said in a news release.
A buyer must agree to maintain the lot, pay taxes on it, and hold it for at least five years before selling it.
Typically, more than half the lots are sold to the people next door.
You can apply for one of the lots at largelots.org.
The deadline is January 31.