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.
"Chicago's Large Lots Program, which sells vacant city-owned parcels to nearby homeowners for $1 each, is getting a lot larger," reports Robert Channick.
"More than 4,000 vacant lots will be put up for sale in 33 communities on the South and West sides, beginning Tuesday. Eligible buyers must own property on the same block as the vacant lot, be current on their property taxes and have no outstanding debt to the city," explains Channick.
After launching in 2014, the program has expanded from its original presence in the Greater Englewood and East Garfield Park to additional neighborhoods on the South and West sides of the city. According to Channick, "[m]ore than 550 lots have been sold since the program's inception."
Read the full story: 4,000 vacant lots on sale for $1 to Chicago homeowners
Chicago Puts Thousands of Vacant Lots on the Market for $1
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.
$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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