Definition
A structurally questionable dwelling in an absurdly desirable location—where the ramshackle building itself is nearly worthless, but the land, views, and prestige make it wildly expensive. You're paying millions for the dirt and mythology, not the actual shelter.
Example Usage
We thought it was an abandoned shed until the realtor called it a rare alpine Shackteau and listed it for $2.5 million.
Source: Urban Dictionary
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