Chicago continues to lose population from parts of the city, so vacant properties are multiplying. The city's "Large Lots" program aims to return vacant properties back to control by residents of the neighborhoods.
"Chicago is again seeking city residents interested in buying vacant lots in their neighborhoods for $1," reports Samantha Bomkamp.
The city is offering 3,219 empty lots on the South and West sides of the city through the Large Lots program. Earlier iterations of the Large Lots offered similar cheap land to residents in 2016 and 2014.
"The program requires buyers to already own property on the same block, be current on property taxes and have no outstanding debt with the city, like a late water bill or unpaid parking tickets," according to Bomkamp.
The city acquired the properties through property tax and demolition liens. The city now owns 11,500 vacant lots, spread between more than two dozen of the city's 77 community areas. While "Legacy Cities" like Detroit have a reputation for vacant properties, Chicago's regular renewal of the Large Lots program serves as a reminder that the recent trend toward urbanization in the United States hasn't served every neighborhood in even the largest of American cities.
Read the full story: Chicago selling 3,000-plus properties through $1 vacant lot program
More $1 Vacant Lots for Sale in Chicago
With some 20,000 vacant lots located around the city, Chicago is expanding the Large Lots Program that allows property owners to buy nearby lots for $1.
$1 Large Lot Sales Underway in Chicago
For sale in Chicago for $1: city-owned lots in Southside neighborhoods. The idea, which has been implemented in Chicago before, is to get more land in the hands of neighborhood residents and stakeholders.
Property Taxes Due on Chicago's $1 Large Lots
So you bought a lot for $1 under the city of Chicago's Large Lots program. Expect your bills to go up a lot more than that measly sum.
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