Entire town up for sale for less than $1m

Though the economic downturn is over, the US real estate is still feeling the pinch. A real estate agency says that an entire town is up for sale for less than $1 million in the American state of South Dakota.

The town is complete with homes, outbuildings, a saloon, a post office, a petrol station and convenience store, two shops, two jails, a museum, a dance hall, a hostel and a historic railway depot, The Times reported on Wednesday.

Initial asking price was $3 million but was reduced to $799,000 (Dh3 million), a real estate agent said, adding that the current property owner – an elderly lady, 74 – has been diagnosed with cancer and wants to relocate to another city.

Joe Bennington, an estate agent, said the store and petrol station had been closed for some time and the new owners would not have not authority to lock people in the one “working” jail, the daily said.

Built in early 1900s, Scenic “has a “lot of potential for savvy investor,” he said.