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Lamor) ' K/ <br /> • <br /> White Dove Realty, Inc. 111 <br /> A CENTURION*Award Winner Office-1993-1994 ' •. <br /> V.M.458-7125 +1 • , <br /> __ <br /> Fax 441-4699 <br /> Business iturgirtf 28, 1995 \tiqc <br /> Pat Klaers <br /> City of Elk River Mel Beaudry <br /> Elk River MN 55330 Discovering the <br /> best move for you! <br /> Dear Pat, <br /> Thank you for the opportunity to do a value opinion on the property at the east end of Elk <br /> River on 165th and Jarvis. <br /> I recommend that the City does not split the land into 2.5 acre lots because they would be too <br /> long and narrow, and because of the proximity to the city sludge area and proposed ballfields. <br /> I feel it would be more appropriate to divide the lots, excluding the 6.85 acre lot, along 165th, <br /> into 4 building sites of approx. 3.75 acres each. These lots have a market value of$29,000 to <br /> $32,000. <br /> The estimate value of the 6.85 acre lot would be$36,000 to $37,500. <br /> • The estimate value of the 14 acre lot would be $43,000- $45,000. <br /> I have also looked at the possibility of 5 lots along 165th (excluding the 6.85 acre parcel). They <br /> would have a frontage of just over 200 feet, but I feel it is not in the best interest of the City to <br /> sell lots with that narrow frontage. <br /> I have enclosed examples of lots sold in the Elk River and western Ramsey area, which were the <br /> basis for my findings. <br /> You may find these lot values more conservative than anticipated. However, I would rather be <br /> conservative than overly optimistic, in which case, the City would not get the return on their <br /> investment that they were expecting. <br /> Yours truly, <br /> \N\0 <br /> Mel Beaudry _ <br /> Century 21, White Dove <br /> MB/lb <br /> • <br /> Mel Beaudry works with a team of experts to assure the best possible service. <br /> Mel Beaudry, Lucy Boeshans, Mary Leuer, Kathy Tangen <br /> Each Office Is Independently Owned And Operated <br />