A proposed condo and retail development in Toronto's Parkdale neighbourhood is up for sale for just one dollar, that is, if you're willing to believe the very misleading sticker price.

The ultra-cheaplisting for 1488 Queen Street Westoffers up a former Guardian Pharmacy location, which has been shuttered since mid-2022, as well as the in-motion redevelopment plans for a new mid-rise condo.

Described as a "premier urban infill opportunity located in Roncesvalles" (the Roncy and Parkdale neighbourhoods overlap at this point, but, let's be real, this is Parkdale), the site is approved for 29,493 square feet of new development.

Unfortunately, for any get-rich-quick types out there, the $1 price tag is merely a classic marketing stunt used to encourage bids, and there is about a zero per cent chance of you buying into the property redevelopment game with only that loonie adhered to the bottom of your cup holder.

Similar $1 properties are a common sight on realtor websites, and based on this one's over two-month stretch on the market, it's safe to say that the real asking price is considerably higher than the listing suggests.

Over the years,therehavebeencountlessdifferentresidences, businesses includingbar/restos,fast food franchises,grocery stores, as well aspolice stations, andeven major landmarks listedat this impossibly low price.

Even if you could somehow outbid the competition with the change leftover from your coffee, you'd still be facing annual property taxes of $58,962.04 for the existing building — a number that could grow even higher following redevelopment.

虽然房地产经纪人与listing was unreachable when contacted via phone and email by blogTO, details about the property's possible redevelopment are available through anapplication with the City of Toronto.

Proposed in early 2020, the six-storey development would include 29 condominium units atop ground-floor retail, designed to match the context of the heritage buildings flanking the site.

After minor revisions filed with City planners in 2022, the project is currently awaiting Notice of Approval Conditions, one of the final stages pending final approval and shovel-ready status.

Just don't come to negotiating table with only a loonie in your pocket.