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Saturday, June 7, 2008

Even Cheaper Lake Property for Sale!

Elisa Sand reports in Thursday's MDL that Lake County has scheduled another auction to try selling the old poor farm land. On June 17, 11 a.m., at the Lake County Courthouse, you can make your bid for nine acres of choice Lake Madison property. Opening bid: $100,000.

This land was a steal back in April when the county opened bids at $112,000. Heck, Commissioner Leighton's appraisal of the land at $225,000 should still make out-of-town developers salivate. Nine acres -- plunk just one half-million-dollar McMansion on the whole shebang, and you're set. Divvy it up into 18 lots, sell each for $50K (you could get that here), and you're stinkin' rich.

So developers, come to Madison the 17th. Let Sioux Falls developer Ted Thoms whimper about how the county ought to give him a better deal -- freeze him out with a bid of $120K, $150K, even $200K, and you'll still recoup your investment at least a couple times over. Fortune favors the bold, not wimpy investors who want government handouts.

1 comment:

  1. "Developer" means "to be developed" and it will be fantastic! Just look at the condos going up next to the property right now. This is the bargain of our decade, and a partnership of four or five people could easily pony up $25,000 each and buy it. That lets the little guy play with the big guys.


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