Lowball Watch – Illinois

The (Illinois) Post Tribune reports a settlement of a controversy between the Cedar Lake Ventures, LLC, the owner of a pond, and the town council of Cedart Lake. In 2007, Cedar Lake deposited $73,000 for the taking of a 2.97-acre part of a 15.5-acre pond. Now the parties have settled for $423,441 (including costs and fees incurred by the owner). Which comes to nearly six times the original offer. Carrie Napoleon, Cedar Lake Agrees to $400,000 Settlement Over Retention Pond, Post-Tribune, September 27, 2011. Click here.