Illinois town selling lots for $1 in hopes of attracting home builders

The small town of Rossville in Vermilion County wants to encourage more residential development and in order to do that, the village is offering undeveloped housing lots to potential buyers for only $1, the News-Gazette reports today in the article, “Rossville offers housing lots for a dollar.”

The catch? The mayor says there isn’t one. Rossville will see the return on its investment when the empty lots are developed and are generating future property tax revenue for the village. Read more.

In other real estate headlines:

So, About that Government Default – Should We Be Afraid? – Chicago Agent

What could happen if the U.S. defaults? – Chicago Tribune

U.S. Bank neglects foreclosures in suburban minority areas: complaint – Chicago Sun-Times

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.