ABC 7: Chicago-owned residential lots sell for $1 in Englewood, Washington Park, Woodlawn

[VIDEO] We've been hearing about this program for quite a while, the city wants to sell vacant lots in distressed residential neighborhoods for $1. This program is only available in the Englewood, Washington Park, and Woodlawn neighborhoods. Further more this story from ABC 7 mainly explores the potential impact in Englewood:

Tina Harbin, a homeowner, has lived for a dozen years on a block with an empty lot.

"My dream is to have this space where residents can gather in a community garden, come home and walk their dogs,'' Harbin said.

For just $1, the city is expected to sell the lot to the Harvard-Yale Homeowners' Association.

"To be able to transform it into something that adds value, long term. It's not an eyesore when you ride or walk down the street. It's something that's beautiful and just sets a different tone for the neighborhood,'' Harbin said.

Who can buy them? A homeowners' association or residents who live on the same block as the vacant lot. The resident must demonstrate the financial ability to maintain the lot and can't sell the lot for five years.

"We're looking for some buy-in to the community. We want homeowners, people that have a stake in the community to come in and invest in the community. Buy a lot, make it useful so you're property values can be maintained and increased,'' said Alderman Roderick Sawyer.

What would you do with a $1 lot?  Hopefully you have a future plan for the lot even if just for the enjoyment of the community. That is whatever creative idea you may come up with.

If you want to know more about this program here's a website: http://largelots.org/.