More Notorious Properties
|
Jeffrey Dahmer 25th Street Milwaukee, Wisconsin Class IV - Distress Condition, Crime Scene
Jeffrey Lyle Dahmer was arrested on July 22, 1991 for suspicion of murder. Dahmer stored and consumed his victim's remains within his apartment unit. He was subsequently convicted of murder and sent to prison, where he died in a prisoner attack. The 24-unit apartment where he had lived and committed his crimes was owned by a private party. After the discovery of his crimes, most of the renters in the other units quickly moved and within a year, the vacancy within the apartment building rose to 83%. Although the owner realized the building had diminished in value, he did not want to demolish it, nor did he want to discount the apartment for liquidation. The apartment was located in a blighted urban area where the crime rate was high and drug-houses and absentee landlords were common. These neighborhood conditions negatively impacted the nearby Marquette University, which has an enrollment of 10,000 students. In 1991, the neighborhood became part of a revitalization program under a non-profit organization called Campus Circle, which was in the start-up process at the time of Dahmer's arrest. Within one year of its inception, Campus Circle had acquired approximately 100 properties ranging from abandoned single-family residences to a 59-unit apartment building. By 1994, it had constructed a $35 million retail and residential development two blocks from the University, and a community-oriented police station was constructed on 21st Street. As a result of this redevelopment activity, the drug houses disappeared, crime dropped 44 percent, and the enrollment at the University increased notably. Despite the progress made in this redevelopment activity, the Dahmer apartment building was a daily reminder to the local residents and the University of the crimes that were committed there. As would be expected, its presence had a significant negative impact upon the Campus Circle project and the University. Many members of the community, the victim's families and Campus Circle desired to demolish the Dahmer apartment building and build a small playground, which are sometimes called "tot-lots". According to the current owner, similar apartment buildings in the area had sold for $9,000 to $10,000. The former apartment building owner was aware of the surrounding redevelopment and the special motivations of Campus Circle. It was finally sold to Campus Circle on August 7, 1992 for $325,000, or $13,500 per unit. This is reportedly $3,000 to $4,000 per unit above market. This premium was paid due to their major financial investment in the neighborhood and school, as well as to address the desires of the victim's families. In November, 1992, the improvements were demolished. The planned "tot-lot" development had a cost of $150,000 and the City was to maintain the park; however, only $80,000 was successfully raised. Because of this shortfall and City budget cuts, the park was not completed and the site remains vacant. Current plans call for a community and children's garden in conjunction with a local grade and middle school. There are no plans for a memorial on the site. This situation is unusual and stands in contrast to most crime scene situations. Technically, the property sold for a premium; however, it was purchased in an effort to demolish the building and thereby enhance the neighborhood. In recognizing the high vacancy rate caused by the crimes and the special motivations of the buyer to acquire the property and promptly demolish it, it is apparent that the apartment building was negatively impacted by the crime scene stigma; however, in this instance the property owner profited from the situation.
|
|
Manson Family Murders Cielo Drive Benedict Canyon Los Angeles, California DC Class IV - Distress Condition, Crime Scene
On August 9, 1969, the followers of Charles Manson committed the murder of actress Sharon Tate and others. Throngs of curiosity seekers found the home and visited the property for years after the crime. The crime occurred in a small farmhouse-style home off Benedict Canyon Road in an area north of Beverly Hills, California. The house was built in 1941 on a site that has an outstanding view of the Los Angeles basin. It contained 2,324 square feet, three bedrooms, four bathrooms, a guest house and a pool. In 1991, the original house was demolished, the site was re-graded and a new large Mediterranean home was built. The grading has dramatically altered the appearance of the site. Research indicates that today, over 25 years after the crimes, there is little or no residual stigma associated with the property. Aided by the remote location of the site and the extensive grading, curiosity seekers have long forgotten about the property. The current property owner stated that he did not receive any discount due to stigma when he purchased the property, and local resident's state that the issue rarely arises. Apparently time has cured the stigma associated with this property.
|
|||
|
Menendez Brothers Elm Street Beverly Hills, California Class IV - Distress Condition, Crime Scene
On March 20, 1996, a jury convicted Lyle and Erik Menendez of first-degree murder for the August, 1989 slayings of their parents in their Beverly Hills mansion. The property contains 9,063 square feet, six bedrooms and eight bathrooms for a total of 23 rooms. Amenities include a pool, tennis court, and guest house. Tourist buses still stop at the house today, eight years after the incident. The murders occurred approximately one year after the parents purchased the home for $4 million. The living room where the murders occurred was completely renovated and no physical trace of the crime remains. The house was placed on the market in April 1991 and was listed for sale for approximately one and one-half years before a buyer came forward in October 1992. The property sold for $3 million. By 1992 the property was worth approximately $4.2 million with no stigma. The $3 million sales price indicated that there was an approximate 35% discount attributed only to stigma. In addition, the property suffered from an extended marketing period of approximately one and one-half years, which is significantly longer that a typical six-month time frame. |
|||
|
OJ Simpson Bundy Avenue Los Angeles, California Class IV - Distress Condition, Crime Scene
The murders of Nicole Brown Simpson and Ron Goldman occurred on the walkway to a West LA condominium in June, 1994. The property is a well-designed, tri-level condominium that contains 3,405 square feet, four bedrooms, three bathrooms and a roof-top patio. The property was purchased in January 1994, by Nicole Simpson, for an effective price of $652,000. Shortly thereafter she listed the property for rent for $4,800 per month in an effort to relocate.
The condominium was listed for sale shortly after the crime for $795,000. Over the last two years various written offers have been presented; however, none were consummated. The property has suffered from an extended marketing period of approximately two and one-half years to date, far beyond the typical six month time frame for residential properties in the area. The property was scheduled to be auctioned in January, 1997; however, it was sold prior to the public auction for a price less than the $595,000 asking price.
|
|||||
|
Heaven's Gate Mansion Colina Norte Rancho Santa Fe, California Class IV - Distress Condition, Mass Suicide
The house is the site of the largest mass-suicide in the history of the United States. On March 26, 1997, police discovered 39 bodies of former "Heaven's Gate" members within the mansion. The first police to arrive at the scene were overcome by the odor created by decaying bodies and body fluids. The cult members believed that they were discarding their "vehicles" to return to a spaceship that followed the Halebop Comet. The property is a two-story, single-family residence that contains 9,011 Sq. Ft. of livable area, seven bedrooms, seven bathrooms, a two-car garage, a limousine garage, sauna, pool, spa, tennis court, and has a view amenity. The site contains 3.11 acres. The house is very private and is not visible from the public streets or from the entry gate. The Heaven's Gate members rented the house, and the lease specifically limited occupancy to seven people. The property was purchased by the owner on June 24, 1994 for $1,375,000. As of date of the tragedy, the property was listed for sale for $1,595,000. The house was cleared of the bodies and all belongings by county authorities but significant physical damage remained. The physical damage amounted to well over $100,000. This created significant "carrying costs" of the property. No legitimate offers have were ever been received and the back repossessed the property. A nearby property owner purchased the house and bulldozed it.
|
