Lt0 - STH HWY 75

Description

With infrastructure costs making most development properties on the market cost prohibitive, this property is priced with that in mind.  70 platted lots and road right of ways are in place with the Village of Paddock Lake and the current taxes are very low per the agricultural use assessment.  The seller currently farms this property and would offer a crop lease of $225 per tillable acre until no longer necessary.  Prior to closing, Seller will have a utility and R.O.W. easement created to allow access to sewer and gas through the 21 acre parcel to the east and access from 248^th St. Seller is offering right of first refusal to Buyer for this 21 acre parcel as well as the 26.69 acre parcel to the north.  Contact listing agent for additional information.

Municipal water is already located on the property off HWY 75.  Electricity, phone, cable & fiber can also be accessed from HWY 75.  Gas & Sewer would need to utilize the easement that is being created to allow access to these from 248^th St.  The easement will also allow for road right of way to allow for 2 access points to your future sub-division as required by the Village of Paddock Lake.  The 26.69 acre parcel to the north is zoned RM-1 (Multi-Family Residential District).  A plan was submitted and approved in the past for 44 Duplex’s, but was never completed.  Once infrastructure is in place for the 70 platted lots, it may be beneficial to purchase that parcel as well.  The same can be said for the 21 acre parcel to the east that is currently zoned A-1 (Agriculture).  A plan was also submitted and approved in the past for 65 single family lots for this parcel, but was never completed.  The Village of Paddock Lake is very open to working to develop these additional parcels and whoever purchases and develops the 70 platted lots stands the most to gain by acquiring these 2 additional parcels and developing them in the future.