Bill Wells: Stinky land deal

October 30, 2010 10:43:00 PM

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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.