Houses for Sale Cheap: Three Chicago-Area Homes Priced at $1

Three houses in Geneva, Ill., are selling for $1 each, with one important provision: The new owners must move the historic homes.

Are they good deals?

Two of the homes, located at 122 and 130 East State St. and known as the oldest properties in Geneva, are in jeopardy of being demolished. According to public documents from Geneva's Historic Preservation Commission, the current owner of these properties wants to redevelop the land into a restaurant.

Given the ages of the homes -- the two on State Street were built in the mid-1800s and the other in the 1920s -- locals hope that a buyer will step up to keep the houses in Geneva, a town about 20,000 that's 40 miles west of Chicago. "If someone would be willing to move the homes to their own property, they would sell for one dollar," said Colin Campbell, a member of the Geneva Historic Homes Association.

But some may wonder whether the price of a dollar is a deal or simply a stunt to attract publicity for endangered homes.