I don’t believe he owned all 110 acres; a large portion is BLM mining claims that were sold.
from here: “ $1.75 million also includes water rights and rights to eight mining claims in Searchlight.”
http://www.reviewjournal.com/news/reid-sells-searchlight-home-moving-vegas
Two years ago, under the ‘use it or lose it’ law directed at large corporations holding claims, which Reid championed, it happens that small miners were affected also, have to physically visit and improve the claim annually, or pay hundreds of dollars per 20 acres in ‘maintenance fees.’ (it used to be $140 regardless of claim size). This could be avoided by patenting the claim, but there’s been a patent moratorium since 1994.
Considering the moratorium, $1.75 million for 110 leased government acres is exorbitant, even if it does include water rights, although I’d be happy to sell 220 acres at that price!
I wonder how many regulations the buyer will get a pass on - including the one that makes it illegal to cut down or disturb a joshua tree on public land, or disturb the underground bulbs that can go down some 30 feet.
I’ve been down there and the area looks like prime desert tortoise habitat to me.