The fire broke out around 11:30 p.m. Tuesday on the 600 block of Brooklyn Street.
Heavy flames were showing on the second and third floors when firefighters arrived.
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RAW VIDEO: Fire damages home in Powelton
The fire spread to the roof area before crews placed the blaze under control.
Fire officials say the home had been abandoned three years ago. It was currently being occupied by squatters.
There were no reports of injuries.
The cause of the fire is under investigation.