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-Mid-1997 purchase price for 43 acres $430,000 <br /> <br /> Less price received from City for 16 acres $180,000 <br /> <br /> Balance of $250,000 for 14 acres of useable land is equivalent to $17, 857 per acre <br /> effectively. <br /> <br /> This sale is considered inferior to the subject on an overall basis, although significantly <br /> smaller. On balance with size and time, this sale indicates a value foi the subject of' <br /> significantly more than $17,857 per acre. <br /> <br /> Based on the foregoing sales, the value of the subject land parcel is reasonably concluded to <br /> be $21,500 per acre or $2,150,000. <br /> <br /> Special Note: When a land parcel such as the subject has gone through various stages of <br /> approval and has reached the status of a master plan approval, the value increases <br /> significantly. However, such approval would likely take several years and large outlays of <br /> money for professionals. Moreover, there are many risks along the way. <br /> <br />Charles P. Thompson & Assoc., Inc. <br />C-McDougalLand.300 2 1 <br /> <br /> <br />