Department of Conservation v. First National Bank of Lake Forest

This is a condemnation action under the Eminent Domain Act to acquire 80 acres of vacant, unsubdivided, unimproved land, in Lake County, for open space purposes. The petition was filed October 16, 1973. The case was tried before a jury which viewed the property and returned a verdict of $152,000 ($1900 per acre). Petitioner’s only testimony as to value was $128,000 ($1600 per acre) plus evidence of “similar sales” at $1,000 per acre. Defendant’s high testimony was $240,000 ($3000 per acre) plus evidence of similar sales at $2560 per acre and $2800 per acre. Defendant has appealed contending…