The following is the text of a message for Destiny-98's attorney:
<<First, as a disclaimer that you and your client will have to take on faith, though the facts
on the ground and commonly available will bear me out: I have not been primarily defending
my claim to 1960 S Maple for the presumed real-estate value of the property. Its actual value
is minimal, but it has been my home for thirty years, and the house and studio suits me. I’m
not inclined to give it up without a thorough defense.
Although I had expected Destiny-98 to research quickly and completely the development,
improvement and sales potential of 1960 S Maple, from what I can see of their actions and
decisions, I’ve had to conclude that they have not done so. I appreciate in its simplicity the
straightforward approach they seem to have in concentrating first on acquiring a property
before engaging in any real decision as to how to deal with it.
I had thought to pass on to you and your client a detailed compilation of the facts I am
aware of regarding the peculiarities of the property, and to do it in as objective a way
possible so you could judge for yourselves and draw your own conclusions as to it’s likely
potential but I’ve simply not had the time to do so. At least, not to a satisfactory extent.
But I recently thought of a concise way to express the larger complexity of the property’s
value and prospects and it is this personal realization that I had many years ago and share
now for what it’s worth:
It became clear to me, after about fifteen or so years here, working on the property and
observing the development of its surroundings, that because of the inherent limitations of
the property, entirely due to its location, no matter how much I invested in it to make it
mortgageable, marketable, developable or simply improve it, financially it would never be
better than a break even proposition.
As a residence, it could never be more than sub-sub-prime because of the highway and
other site limitations, commercial development runs against all explicit and implicit local
plans, and the actual physical/political location makes it the least likely candidate of any
surrounding parcels of land to receive city sewer and water service, if ever.
I can’t see any reason why Destiny-98, or anyone they convey it to, in taking over the
property will be in a better position than I to fix the underlying problems. It is not a question
of financial or other resources , things would be very different if it were, but it’s a matter of
physical constraints – soil conditions, political and transport boundaries etc – that cannot,
as a practical matter, be changed. When these combine with the intangibles of municipal
and township policies, market conditions, fashion, taste and the availability of more
attractive options, the problem becomes intractable.
1960 S Maple seems destined to be nothing more than a modest, single family residence for
the foreseeable future, in an isolated, though adjacent to the city limits, pocket of the
township. I have yet to hear anything realistically convincing to the contrary from anyone
familiar with the details and local conditions.
Destiny 98, if they prevail in court and perfect possession, will have ample time to verify this.
Sincerely,
Peter Beal >>