The Chicago City Council has approved the sale of six empty city-owned lots in Humboldt Park to a developer for $1 each. The lots were last appraised at $316,000 collectively according to the city. The mayor's plan is to replace these empty lots with two story 1,840 square foot single family homes that will be made available only to households earning up to 120 percent of the median income for the area (about $88,300 for a family of four). The homes will sell for $199,000 each and the developer, L&MC Investments LLC is expected to begin construction on the sites this spring.
Check out our fancy map that shows the location for each vacant lot that has been sold.
City Council OKs Selling Humboldt Park Lots for $1 for Affordable Homes [DNAinfo]
Various Community and Land Development Measures Approved By City Council [City of Chicago]
Rahm Wants To Sell These Empty Lots In Humboldt Park For $1 [Curbed Chicago]