Re: OT - What to do with 17 acres....

Posted by Mark - IN. on October 30, 2004 at 23:04:32 from (64.12.117.7):

In Reply to: OT - What to do with 17 acres.... posted by farmerboybill on October 30, 2004 at 06:22:56:

$40K an acre? Not for AG. AG around me's about $2K an acre, but start getting into 100+ acre plots. If start talking rural building land for homes, $7K - $10K per acre. If get into subdivisions, then start seeing $24K for 1/3rd acre lots. Now that's in rural Indiana.

When was in Illinois, one of my buddies paid $95K for 3/4 acre in Darien (DuPage County) in 1986, then put another $250K in building a 4000+ square foot home. I thought he was nuts, but was appraised at well over $1/2 million some 5 or 6 years ago. Was a good investment? Is up to him.

$40K an acre? Not for AG, that's for sure. But, if is on the edge of town, and are building up as you say, may not be a bad investment to hold onto for a few years, then sell of for $40K 1/2 acre lot subdivision. Is up to you, if you can swing it, and the town don't condem it and sell it to some developer, out from under you - IT HAPPENS.

Follow Ups:

• Sorry, didn't catch the $4K correction Mark - IN. 23:26:01 10/30/04 (0)

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