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<br />~n 31 OS OS,40p <br /> <br />Alan Schub@rt <br /> <br />612-241-9818 <br /> <br />p. 1 <br /> <br />Minnesotal"Deve1opmmt <br />}\geD.cy, llC <br /> <br />January 27,2006 <br /> <br />Alan Schubert <br />10115 Twin Lakes Road NW <br />Elk River, MN 55330 <br /> <br />RE: Value ofland for proposed condemnation. <br /> <br />De?: Mr. Schubert <br /> <br />Thank. you for your interest in our firm and for the opportunity to inSpl~(I your property. <br />As a developer and real estate broker, I have seen the market growth in l:ik River explode <br />over the last few years. As the demand for new homes increases, the 'Hlue ofland <br />mcreases. <br /> <br />Today's market value ofland in Elk River ranges from $75,000 to $9:,JiOO per acre and <br />the average is about $85,000. This computes to $1.95 per square fOOl. '{,mT land would <br />be in this range, and if you do choosl: to sel!, we would be interested il ,.~dt:ring into a <br />purchase agreement with you. <br /> <br />Warmest Regards, " i <br />/' <br />/1'/ t;f;7 / ' ,.f <br />7t./ "- /../'.'./ <br />I . y' / <br />L" "t j /'"1 -.."--'::1.-( /;;" <br />... ..~1~c-/ l <br />Chris Froelich / <br />Vice President ' /' <br /> <br />1'0: MR t ..e~R~ .... A.4 VReA <br />~ ~()M ~ .4(.4 IV {. 5(.'~I'J.-~.J.~ <br /> <br />OA.tk ~ <br /> <br />1- 3/-D (.p <br /> <br />....--...- <br /> <br />97661'allon Ave~,Silife201 .MonticeJ111iMN 55362 <br /> <br />Phone: 763-29~LAND. F<!JC 7(j~2954696,~.JDDdeVelopmeri~COIli <br />