Buy a South Dakota town for $399k

I haven’t seen one of these stories for a while so take note: you can purchase a small South Dakota town for $399,000.

The owner of Swett, pronounced sweat, is selling the roughly 6-acre  town that includes a tavern, a three bedroom house, three trailer homes and a former tire shop about 100 miles southeast of Rapid City, South Dakota.

Swett’s population peaked at 40 residents in the 1940s when it had a post office and grocery store, but now stands at two: owner Lance Benson and his wife, three if you count their dog.

Benson acquired Swett in 1998, later gave it up in a divorce settlement and then reacquired the town in 2012. He will toss in a 1990 Volvo semi-tractor now used for hauling trailers, according to a real estate listing by realtor Stacie Montgomery.

Benson, who owns a traveling concession stand, told the Rapid City Journal last week he wants to sell the town to focus on his business. He will keep the tiny prairie domain if no one wants to buy it within a year, he told the newspaper.

Not much of a town seeing that the Census doesn’t keep any facts on it and there isn’t much to see on Google Maps. But, it doesn’t have an interesting history in recent decades going from several dozen residents to part of a divorce settlement.

Perhaps we know this selling-a-city thing is going somewhere when a more substantial location goes up for sale. Imagine a community of 500 or 1,000 people is experiencing severe financial difficulties. In order to help make this up, the town tries to find a private owner or manager with a cash sum up front meant to help counter the debts. Or imagine Detroit decides to sell off a whole neighborhood to a private developer who makes some sort of deal to improve the community. I don’t even know if the first option is legal; can an incorporated community be sold to a private owner or corporation? I assume there are some guidelines in incorporation laws intended to protect community members…

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