I have no idea what the “going rate” for prime farmland is in this area, but research on the ”net shows me that prime farmland in Illinois is averaging $5,000 per acre. I looked up a couple of parcels: 128 acres in Princeton at $7,475/acre. Another 319 acres at $4,755/acre.
This CL&W deal is “fishy” and well as “stinky.” What are the qualifications for appraising land in this area? Stewart Stafford and Steven Holcomb both sound way off base to me. The $996,000 price is $8,440 per acre! Earlier $500,000 appraisal is $4,237 per acre, too much for this land. And who in the world would believe the $1.8 million earlier appraisal? That”s $15,254 per acre! With a deal this “stinky,” I”m surprised that Manager Todd Gale and his cronies didn”t opt for this. We ought to send this bunch to Washington; they”d fit right in with the den of thieves that are running our government.
The Dispatch Editorial Board is made up of publisher Peter Imes, columnist Slim Smith, managing editor Zack Plair and senior newsroom staff.
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