The Impact of Wind Power Projects on Residential Property Values ...

facilities than the towns <strong>of</strong> Compton, West Brooklyn, Scarboro, and Sublette. Also, to the North
<strong>of</strong> the facilities are the towns <strong>of</strong> Lee, to the East <strong>of</strong> Highway 38, and Steward, just to the West.
Although many home sales occurred in these towns, a significant number <strong>of</strong> additional sales
occurred on small residential tracts in more-rural areas or in small developments. <strong>The</strong>
topography <strong>of</strong> the area is largely flat, but falls away slightly to the East towards Paw Paw. <strong>The</strong>
area enjoyed significant development during the real estate boom led by commuters from the
Chicago metropolitan area, which was focused in the Paw Paw area but was also seen in semirural
subdivisions to the Southwest and North <strong>of</strong> the wind facility.
Data Collection and Summary
County Supervisor Wendy Ryerson was enormously helpful in answering questions and
providing data, as were Carmen Bollman and GIS Director, Brant Scheidecker, who also work in
the county <strong>of</strong>fice. Wendy and Carmen facilitated the sales and home characteristic data request
and Brant provided the GIS data. Additionally, real estate brokers Neva Grevengoed <strong>of</strong> LNG
Realtor, Alisa Stewart <strong>of</strong> AC Corner Stone, and Beth Einsely <strong>of</strong> Einsely Real Estate were helpful
in understanding the local market.
<strong>The</strong> county provided information on 412 valid single-family transactions that occurred between
1998 and 2007 within 10 miles <strong>of</strong> the nearest wind turbine, all <strong>of</strong> which were included in the
sample. 108 <strong>The</strong>se sales ranged in price from $14,500 to $554,148, with a mean <strong>of</strong> $128,301. Of
those sales, 213 occurred after construction commenced on the wind facility and, <strong>of</strong> those, 36
had views <strong>of</strong> the turbines – nine <strong>of</strong> which were rated more dramatically than MINOR. Only two
sales occurred within one mile <strong>of</strong> the nearest wind turbine.
Area Statistics
Study Period
Begin
Study Period
End
Number <strong>of</strong>
Sales
Median
Price
Mean
Price
Minimum
Price
Maximum
Price
5/1/1998 3/2/2007 412 $113,250 $128,301 $14,500 $554,148
Facility Statistics
Facility Name
Number <strong>of</strong>
MW
Number <strong>of</strong>
Turbines
Announce
Date
Construction
Begin Date
Completion
Date
Turbine
Maker
Hub Height
(Meters)
Mendota Hills 50.4 63 Nov-01 Aug-03 Nov-03 Gamesa 65
GSG <strong>Wind</strong> Farm 80 40 Dec-05 Sep-06 Apr-07 Gamesa 78
Source: AWEA & Ventyx Inc.
108 This county was not able to provide data electronically back to 1996, as would have been preferred, but because
wind project development did not occur until 2001, there was ample time in the study period to establish preannouncement
sale price levels.
97