News From Terre Haute, Indiana

News

July 18, 2013

Jury: Property at I-70, Indiana 46 worth $1.32 million

TERRE HAUTE — A six-member jury took just 40 minutes Wednesday to rule that the fair market value of about 22 acres on the southwest corner of Interstate 70 and Indiana 46 is worth $1.32 million.

The property has gone through eminent domain in 2009 as the state of Indiana plans to use a portion of the property as an off-ramp for a reconfigured I-70 interchange that will connect to the Indiana 641 bypass.

However, property owners and the state could not reach an agreement in mediation in 2011, sending the issue to Vigo County Superior Court Division 2 for a jury to decide the land’s value.

Property owners Dr. Primo A. Andres, Dr. Ramon R. Contreras and Dr. Zenaida M. Contreras contend the property was valued at $1.2 million to $2.2 million.

Howard Stevenson, attorney representing the state, had urged the jury for a ruling of between $145,500 and $325,000.

The state contended no commercial development has been done on the southwest corner of the interstate, while the northwest quadrant has developed with a Walmart and several warehouses.

The state also contended a pond on the property makes the land less valuable. The state in mediation had offered $325,000.

Phil Sever, attorney for the landowners, had sought a ruling of between $875,000 and $2.2 million.

Sever said the property was purchased in 1995 as a retirement investment, but the property could not be sold in 2009 after the state unveiled its bypass plans. Sever contended appraisals for the state concluded the property could be developed for hotels, however, did not include a price comparison for land developed a Holiday Inn, land sold for $700,000.

Sever argued 11.23 acres of land that is closer in shape and size sold for $876,000, while 9.96 acres developed for a FedEx distribution center sold for $732,000. The state contended those parcels are all in the northwest quadrant of the intersection, while no development had been done in 18 years in the southwest quadrant of the intersection.

Reporter Howard Greninger can be reached at 812-231-4204 or howard.

greninger@tribstar.com.

 

1
Text Only | Photo Reprints
News
Latest News
TribStar.com Poll
AP Video
Raw: Air Algerie Flight 5017 Wreckage Raw: Big Rig Stuck in Illinois Swamp More M17 Bodies Return, Sanctions on Russia Grow Judge Faces Heat Over Offer to Help Migrant Kids Gaza Residents Mourn Dead Amid Airstrikes Kangaroo Goes Missing in Oklahoma Kerry: No Deal Yet on 7-Day Gaza Truce Ohio State Marching Band Chief Fired After Probe Raw: Bolivian Dancers Attempt to Break Record Dempsey: Putin May Light Fire and Lose Control Raw: Deadly Tornado Hits Virginia Campground Virginia Governor Tours Tornado Aftermath Raw: Iowa Police Dash Cam Shows Wild Chase Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive Raw: Air Algerie Crash Site in Mali Raw: Palestinians and Israeli Soldiers Clash Cumberbatch Brings 'Penguins' to Comic-Con Police: Doctor Who Shot Gunman 'Saved Lives' In Case of Fire, Oxygen Masks for Pets
NDN Video
Big Weekend For Atlanta Braves In Cooperstown - @TheBuzzeronFox Chapter Two: Becoming a first-time director What's Got Jack Black Freaking Out at Comic-Con? Doctors Remove 232 Teeth From Teen's Mouth Bradley Cooper Explains His Voice in 'Guardians of the Galaxy' Deja vu: Another NYPD officer choke-holding a suspect 'Fifty Shades of Grey': Watch the Super Sexy First Trailer Now! Reports: Ravens RB Ray Rice Suspended For 1st 2 Games Of The Season Air Algerie plane with 119 on board missing over Mali Diamond Stone, Malik Newman, Josh Jackson and others showcase talent Free Arturo - The World's Saddest Polar Bear A Look Back at Batman On Film Through The Years LeBron James -- Dropped $2k On Cupcake Apology ... Proceeds To Benefit Charity Snoop Dogg Says He Smoked Weed at the White House Raw: Fight Breaks Out in Ukraine Parliament Chris Pratt Interrupts Interview To French Braid Intern's Hair Shirtless Super Mario Balotelli Dances While Ironing - @TheBuzzeronFOX Whoa! Watch "Housewives" Star Do the Unthinkable LeBron apologizes to neighbors with cupcakes Justin Bieber In Calvin Klein Underwear Shoot
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
  • -

     

    March 12, 2010

activity
Real Estate News