Call to action 8/6 for quick take

[wvhsparent]

bob said:

$257,500 per acre and Brach Brodie attorneys saying the land is worth up to $600,000 an acre.

There is your range BC so there is no unknown.

$600k is also more than what Costco paid BB for the corner lot of 59 and 75th.

IMHO that range is to great...and the high end is too high, and yes I understand it is somewhat unrealistic.
That large of a range by my definition makes the final cost unknown.......
I don't recall...How much did Costco pay?

[proschool]

There is really no reason to think the land is worth that much.

But if thats what land is worth then I guess that is what land is worth.

The school needs to be built and we have to build it on land.

[gatordog]

justme said:

Okay, to play devil's advocate a bit, what recourse would the taxpayers have if the courts set the price per acre at around $500,000 (which would not surprise me)? What if the SB agrees to pay that?

Justme,
If SB gets land now and starts construction now and later the court says to pay $500,000 per acre....then SB is paying about $13 million more than expected($27.5 mil - 14 mil).

However, as discussed in another thread, with construction cost going up 10% (or more) per year, by starting now there is opportunity to save 10% on the $100 million dollar construction component of Metea Valley HS, or about $10 million. Then add in the on-time completion of school and no need to pay for for 1 yr temporary solution for overcapacity at WV and NV (and Middle Schools).

So to answer your question about "what if SB pays 500k per acre"...I think IF we can get construction going very soon, the net cost to the taxpayer at that land price would be about zero. I believe the biggest cost risk to the taxpayers would be in losing a construction season.

[bob]

wvhsparent said:

bob said:

There is your range BC so there is no unknown.

$600k is also more than what Costco paid BB for the corner lot of 59 and 75th.

IMHO that range is to great...and the high end is too high, and yes I understand it is somewhat unrealistic.
That large of a range by my definition makes the final cost unknown.......
I don't recall...How much did Costco pay?

I believe $550k

[proschool]

wvhsparent said:

bob said:

There is your range BC so there is no unknown.

$600k is also more than what Costco paid BB for the corner lot of 59 and 75th.

IMHO that range is to great...and the high end is too high, and yes I understand it is somewhat unrealistic.
That large of a range by my definition makes the final cost unknown.......
I don't recall...How much did Costco pay?

Why does it matter what Costco paid? Costco is on Route 59 and the land in question is 1/4 mile inland. There is no comparison.

[bob]

Found it. It was in Bubbagump's comp post

Rt59 and Goudy , Naperville 328k/acre
Highlake w/o Winfield Rd, (winfield) 509,600k/acre (a bit far maybe)
Plainfield Rd w/o Wolf Rd (Cook Co.) 447,619k/acre (also a bit far?)
Keim n/o Royce Rd, Naperville 513,600k/acre
s/e corner of Rt 59 and 83rd St, 432,870k/acre
s/w corner 75th St and Beebe Dr, Naperville
Part 1 - 533,602k/acre
Part 2 - 729,288k/acre
s/e corner of 75th and 59 (Costco) 526,785k/acre

[blankcheck]

And the one part that was $729,288/acre?

[bob]

blankcheck said:

And the one part that was $729,288/acre?

As someone earlier posted, roads and sewers were already in place.

But you ignore Lehigh station and the land right across from the 55 acres we are trying buy.

[momto4]

bob said:

Found it. It was in Bubbagump's comp post

Rt59 and Goudy , Naperville 328k/acre
Highlake w/o Winfield Rd, (winfield) 509,600k/acre (a bit far maybe)
Plainfield Rd w/o Wolf Rd (Cook Co.) 447,619k/acre (also a bit far?)
Keim n/o Royce Rd, Naperville 513,600k/acre
s/e corner of Rt 59 and 83rd St, 432,870k/acre
s/w corner 75th St and Beebe Dr, Naperville
Part 1 - 533,602k/acre
Part 2 - 729,288k/acre
s/e corner of 75th and 59 (Costco) 526,785k/acre

So, their comps don't include even ONE sale in Aurora?

[bob]

I believe they are using more than these now.

[justme]

momto4 said:

bob said:

Found it. It was in Bubbagump's comp post

Rt59 and Goudy , Naperville 328k/acre
Highlake w/o Winfield Rd, (winfield) 509,600k/acre (a bit far maybe)
Plainfield Rd w/o Wolf Rd (Cook Co.) 447,619k/acre (also a bit far?)
Keim n/o Royce Rd, Naperville 513,600k/acre
s/e corner of Rt 59 and 83rd St, 432,870k/acre
s/w corner 75th St and Beebe Dr, Naperville
Part 1 - 533,602k/acre
Part 2 - 729,288k/acre
s/e corner of 75th and 59 (Costco) 526,785k/acre

So, their comps don't include even ONE sale in Aurora?

That's an interesting point. White Eagle is in Naperville and Aurora. Maybe the White Eagle residents could shed some light on the differences. How different are the home values? I think this could be helpful because they are in the same area.

[blankcheck]

Who purchased the land for 729,288/acre?

[bob]

justme said:

momto4 said:

So, their comps don't include even ONE sale in Aurora?

That's an interesting point. White Eagle is in Naperville and Aurora. Maybe the White Eagle residents could shed some light on the differences. How different are the home values? I think this could be helpful because they are in the same area.

Doesn't the Aurora part of WE have Naperville adresses or is that an urban legend?

[justme]

bob said:

justme said:

That's an interesting point. White Eagle is in Naperville and Aurora. Maybe the White Eagle residents could shed some light on the differences. How different are the home values? I think this could be helpful because they are in the same area.

Doesn't the Aurora part of WE have Naperville adresses or is that an urban legend?

I honestly don't know.

If so, how does that work?

[wvhsparent]

bob said:

justme said:

That's an interesting point. White Eagle is in Naperville and Aurora. Maybe the White Eagle residents could shed some light on the differences. How different are the home values? I think this could be helpful because they are in the same area.

Doesn't the Aurora part of WE have Naperville adresses or is that an urban legend?

They do cuz they get their mail thru the Naperville post office, hence the Naperville address, buth they are actually Aurora. IMHO that should be changed too.