Fifth Street Appraials and Negotiations

FIFTH STREET APPRAISALS AND NEGOTIATIONS

Prairie Engineers of Illinois, P.C. provided appraisal services to the Logan County Highway Department to assist in their right-of-way acquisition for a highway reconstruction project in rural Logan County. A total of fourteen parcels were appraised to determine a fair market value of the area required, plus any compensation for damages to the remainder of each parcel and permanent and temporary easements that were required for construction.
The City of Lincoln had plans prepared to reconstruct Fifth Street Road on the City's west side. The surrounding area had been developed with industrial, commercial and residential properties, and the roadway was planned to be replaced with a wider urban cross-section to better serve the area. Strips of additional right-of-way needed to be acquired within the project limits, but one residential parcel would have significant damages with the highway widening. The parcel was located such that the five acre property could serve as a stormwater detention area, so the decision was made to acquire the whole property. Prairie Engineers assisted in this project by providing the real estate appraisal and negotiating with the property owner to acquire the parcel. Prairie Engineers also ensured that this parcel was acquired within a tight timeframe to allow the City to utilize federal American Recovery and Reinvestment Act (ARRA). funds that were set to expire. Other funding used for the land acquisition included federal High Priority Project (HPP) funds and Surface Transportation - Urban (STU) funds.

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