Home Selling in Wausau>Question Details

bayge, Both Buyer and Seller in 54401

I'm losing income from a specialized market area due to eminent domain. Am I entitled to compensation?

Asked by bayge, 54401 Tue Sep 16, 2008

The UWMC is using eminent domain to take our house for an expansion. We have rented out a portion of our home to college kids for the past 10 or more years. We are DIRECTLY ACROSS the road from the college. We are losing $6000/yr at the rate we charged this last year. We cannot recoup that income by simply moving somewhere else and renting that out. This was a specialized location which I ALWAYS had a tenant in. We actually had kids waiting to get in. Do we get compensated for the lost income? In 10 years, IF the rate stayed the same, we're losing $60,000 plus the tax shelters! I bought this home, and turned it into income property. From what I've researched , it looks like we only get half of what we made on it in the past 2 years! Is this correct?! WHAT A RIP!

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I think you really should get a lawyer to represent you. My grandparents property was taken as eminent domain and that is what they did. You have to have someone looking out for you. I would recommend
Cal Tillisch
207 Grand Ave.
Wausau, WI 54403
(715) 849-8100
He is a great Real Estate Lawyer! I am sure he will be well worth the money!

Lana
Web Reference: http://WausauAreaHomes.com
0 votes Thank Flag Link Tue Sep 16, 2008
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