I'm not in real estate, thank God.
But let me repeat, the bike shop owner has something that Kozonis, the developer wants to buy. Kozonis wants it a lot. The bike shop guy may be stubborn, nuts, or a good haggler. If Kozonis can't come up with a price that the bike shop owner agrees too, Kozonis moves on, and the bike shop owner loses out on a great deal.
It's that simple. If you don't get it, then DU might be a better place for you to post, as government assisted land grabs are not going to be applauded here.
I never said I was applauding it.
Where did I ever say, the City of Chicago should take his land.
A couple of years ago, I had to fight some hick county in central Alabama because they wanted to run a road thru my hunting camp, and claim eminent domain.
I'm just expressing my wonder why the developer is not offering to make the guy a reasonable settlement. It's not as if Chicago is a soft real estate market right now, and any money he'd lose, he'd more than make back on his project.