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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