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Bargain hunters buy town

The November 15 1929 edition of the Toronto Daily Star contained this bit of filler about five men who bought an entire village in Illinois:

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I’m not sure which is more fascinating: that five people could buy an entire village, or that somebody had already owned it for 20 years.

Wikipedia has entries for Eliza and for Eliza Township, which contained 419 people as of 2010. Eliza appears on Google Street View; I’m assuming that the abandoned building at the crossroads was the former general store, but I could be wrong.