Eminent domain cases involving commercial property can be incredibly complex. Leases, access, parking, setback, signage, zoning, relocation and highest and best use changes are just some of the issues that can arise in a commercial eminent domain matter.
In 2009, the State of Indiana appropriated a 25-acre piece of development land in Terre Haute, IN, owned by a prominent local doctor. This piece of land was directly adjacent to a highway exit ramp, near high intensity commercial development. Regardless of these facts, the State of Indiana argued that the property should be valued as recreation and/or farmland, and it offered $350,000 for a total acquisition of the property. At trial, the attorneys of Sever Storey presented evidence of the true value of the property, using recognized appraisers and national developers as experts. Following several hours of deliberation, the jury returned a verdict of over $1,300,000 for the landowners. This was increase of approximately $1,000,000.
When forced with a significant impact due to highway construction, Holiday Inn sought representation from Sever Storey. The Indiana Department of Transportation (INDOT) moved an exit ramp from a major highway to within 30 feet of the corner of the hotel. Initially INDOT offered $75,000. Working with nationally recognized experts in the hotel development and management communities, Sever Storey was able to demonstrate a large financial impact had occurred. The case settled 25 days before trial for $3,000,000.
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Before going alone against the State let us give you our opinion. It is our pledge that we will provide a free case review for any individual or business facing eminent domain or condemnation. Contact us now at 888-318-3761