Waterski Lake Sales

[Lavy4Purdue]

Hello, we built our own 15 acre private ski lake in Illinois in 2001. The state of Illinois is in the process of buying our land (thru imminent domain) to build a bypass around our town. The road will go right through the middle of the lake, obviously leaving the lake useless to us. I was wondering if anyone on here has had experience with a state forcibly taking land( imminent domain). And if not, if anyone has actually sold an entire ski lake so we can compare like costs to the state and help build our case for replacement value. Please email at rlaverdiere1@gmail.com

THANKS

Ryan Laverdiere

 

[estrom]

Dang, that sucks. Sorry I can't be of help, but just wanted to offer my condolences. Would they do a property exchange instead of purchase?

[bogboy]

Ryan, yes, in the 1950's the airport exercised imminent domain to a small portion of our family's land. Since then, we have been very proactive, protective & momma bearish on the rest, with responsible farming, and, later, development, and we have been successful. We have to watch everything like a hawk, and be constantly involved in the local city happenings and counsel meetings. As far as your lake, it sounds like it could indeed be "imminent" though, ... I am sorry. Perhaps you could find a good real estate appraiser, or attorney (more costly) to help. Also maybe you could attend and speak at all of the future city counsel meetings on the benefits, and responsible and compliant use of your lake, and possibly persuade the officials of an alternate route for the road. Maybe other people could also speak of the healthy family benefits of usage of your lake. Maybe do a lot of comparative values of other waterski lakes also. Replacement cost, etc. good luck.

 

 

[The_MS]

Trade them for a strip of land off the road that they can dig and use the dirt/fill for a road bridge. They will dig the lake to your specs and keep the dirt.

[jackski]

Oh no, MS is right !

Talked to someone quite a few years ago who did just that and was happy with the result.

Worth a try.

[rodltg2]

I believe the owner of the lakes I was a member of purchased the land next to the lakes in hopes of imminent domain. I guess there was a proposed freeway bypass to go right thru the property. The economy tanked and the project has not moved forward. Outcome was bad. It's now a cable park.

[The_MS]

Its not that I am always right, I am just never wrong.

[bogboy]

Ryan, one more idea. There are conservative property owner advocate groups out there that provide a lot of help in these situations. You may be able to google info or get info in some other fashion.

[ktm300]

Find a good imminent domain lawyer in your area who has experience litigating cases with your State's DOT. Ask the lawyer how many such cases he/she has handled in the past ____ years, get him/her to tell you about some of those cases and the ultimate outcome, his/her perception of what you could reasonably expect in your situation etc. Must have someone who has the experience. Know where you stand legally before you deal with the State. If your State is like mine, the DOT will try to run over you. I love the idea of working with them to have them dig another lake but, it would be money well spent get good legal advice and counsel. There are so many factors that go into the value of a ski lake that have nothing to do with the price of the land; costs of diesel fuel, environmental regs, loss of use etc. Good luck.

[The_MS]

I would plant some endangered fish in the lake and declare it off limits in order to protect it.

Have @Horton send you some Delta Smelt from Bako and put those in there.

[Horton]

@ms Delta Smelt tastes better than bald eagle or baby seal

[The_MS]

Deep fried.

[bogboy]

Good advise from ktm300.

[kfennell]

Guys it is Eminent Domain!

 

http://en.wikipedia.org/wiki/Eminent_domain

 

Sorry that they are taking your lake though!

[Zman]

@lavy4purdue Follow the advice of @ktm300 and get legal counsel. Many jurisdictions are required to purchase your land before imposing right of eminent domain. I have been in your situation - much smaller stakes and no lake. Almost all jurisdictions will use 3rd parties to play hard ball with you and try to get your land for a steal and use so called "rules of thumb" for valuing your property. Thats where a good lawyer can be a big help. I did OK on my own, but again had so much less at risk. Get help and fight for a fair value.

[ForrestGump]

@kfennell Eminent Domain doesn't mean they can just take the land. The can only take it if you let them.