Kane County Board Attempts To Steal (Acquire) Leased Building
Ah, the power of a police force. The Kane County, Illinois government is in a quandary. They signed a long term lease on an old Montgomery Ward to house their government offices. But then decided they wanted to buy the building.
If it was a deal with anyone but a governmental agency, the process would have involved negotiations and paying a fair market price. But not to these fine governmental officials. Instead when they were told that the lowball offer they made was not good enough they decided to vote for an eminent domain takeover.
How is that for negotiating power. I could see if there was no other space in town and Montgomery Ward refused to rent the space to them, then there would be a specific need. But instead they have a 20 year lease.
A twenty year lease, that I guess is not with favorable enough terms, that the fine elected governmental officials will be willing to bring the full police force of the government to take the building from private citizens.
That is what is wrong with eminent domain laws in the country. It allows government to make bad decisions and then have the citizens pay for it.
Kane County and the New York-based limited partnership that now owns the property reportedly are several million dollars apart in their respective appraisals on the property that for tax purposes is assessed at slightly more than $8 million.
Tuesday’s vote to file an eminent-domain lawsuit to acquire the property came after an executive session at which board members reportedly were told that talks between the two sides over selection of an independent appraiser to review the situation had reached an impasse. via the chicagotribune.com
Although I agree on most points, I would like to point out that most of the banks that are being ...
The question is when are they going to release them on the market. Las Vegas leads the nation in ...
I keep seeing mentions of Florida's market getting better in multiple blogs. I'm increasingly under the assumption that at least ...
I would like to know more about it. I need to know how you file for it. Please let me ...
Great blog, keep the great content coming! 
If you want to succeed, do not say "we can prevent this in the future." Live in reality. ...
The price of the property depends on its quality and the deal between the management. Good and wise choices are ...
I don't have experience at actualy working in tha automotive bussinnes, but have experience working in a warehouse invironment. ...
Comment by Caleb Mardini on 28 February 2008:
It’s pretty lame, but this kind of thing is what separation of powers, and the courts are for.
Eminent domain is, in my understanding, not applicable to situations when there are reasonable alternatives.
Comment by dean on 28 February 2008:
Tommy,
It looks like either Chicago mayor Richard Daly Sr. or Al Capone rubbed off on these characters.
My grandfather lost his 30 acres to Govt and PG&E back in the early 1970s for a pittance. The property in question was just being planted with grapes.
To the 30 acres, sitting in the middle of Alexander Valley and on the cusp of Dry Creek Valley, would be worth in excess of $10 million.
Looks like Calif Govt knew what they were doing!
What is on the property right now? Chardonnay, Cabernet, and one thin railroad track that sits on the front of the property.
Legal embezzlement!
Pingback by Kane County Board Attempts To Steal (Acquire) Leased Building | The Long List of Odysseus Medal Nominees | Realtors and real estate, mortgages, lending, investments on 28 February 2008:
[...] Kane County Board Attempts To Steal (Acquire) Leased Building, by Tom Royce. [...]