Why Is This Illinois House Listed For Just One Dollar?

A house on the market in Illinois is listed for the whopping price of $1.

No, it isn't a typo. There's a home in Chicago that can be yours for $1. Is it The Ritz? Also no. Could it be a lot worse? Yes.

The home in question here is at 5526 S. La Salle Street. According to the Zillow listing, it's actually a big space (especially for a city home), clocking in at 1,617 sq. ft. and featuring 6 bedrooms, 2 bathrooms.

The listing has been on Zillow for about a month. It has natural gas, no A/C, and 2 garage spaces. It does have a basement and was last sold in 2002 for $95,000. Sharp jump.

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If you want the house, it's cash-only. So you may have to go by the bank first.

Here's what the Zillow description says about it:

This house is being sold for one dollar! Experienced Rehabbers, No Survey, Quit Claim Deed, Check for violations, Buyer to pay all cost, commissions for Buyers/Sellers Agents, back taxes, water bill, zoning cert, survey, any and all costs associated with the sale of property. Property being sold As-Is. House is Huge. Cash only.

To say the least, the house is definitely a fixer-upper but parts of it really look okay and workable. The view of it from the street is pretty metropolitan cute. But with the outrageous $1 purchase price, you'll get it as-is. All of the extra work on it will be paid for by you.

Scroll down to see pictures of Chicago's $1 home!