If you ever had a desire to purchase property in the windy city – Chicago – now may be the best time to act on it. It’s not like you’ve got to have a lot of money because the city has plans to sell hundreds of properties off for the price of…well…a candy bar.

As part of the Green and Healthy Chicago Neighborhoods initiative the Chicago Plan Commission has approved the Large Lots pilot program, which will enable qualifying residents and nonprofits to buy city-owned vacant lots for $1 in the Englewood neighborhood on the South Side.

“It’s designed to move vacant properties out of the city’s hands and into private ownership,” Mayor Rahm Emanuel said in a statement. “People can use the land to expand the yards around their homes, to create gardens on their block, or for beautification, housing, or for other purposes.”

Would you buy property for $1? How effective do you think the initiative will be?

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3 thoughts on “Real Estate Alert: Chicago Property On Sale For A Buck

  1. Joe Valdez on said:

    CNN documentary “Chicago Land” clearly shows how Democrats have destroyed Chicago through corruption , bad leadership . Chicago brags about Obama( Worst President ever , and now Destroying America) . Lou Farrakhan , Ophra, Jesse Jackson Sr( Impregnating young staff member and misusing Operation PUSH Money) , Jesse Jackson Jr( In Jail for stealing) ,Bogoyovich (former Governor in jail for corruption), The Richard Daily Irish Mafia . No More Chicago Democrats

  2. MzLadyp on said:

    LOL Jiggy5. I live in Chicago and Englewood is straight up the MAIN “war zone” of murders and gangs in Chicago. That is why the “I don’t give a damn about blacks” mayor is practically giving away property in the hood.

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