When the State of Illinois or any other public body seeks to acquire private property located in Kendall County or anywhere else in Illinois, it may only do so if it is for a public use and only upon payment of the just compensation as set forth in Article 1 Section 15 of the Illinois Constitution.
What is Just Compensation?
Just compensation is the fair cash market value of the property at its highest and best use on the date of value. Fair cash market value is the amount of money that a purchaser, willing but not obligated to buy the property, would pay to an owner, willing but not obliged to sell, in a voluntary sale. The term “highest and best use” means that use which would give the property its highest fair cash market value on the date of value. The highest and best use can be either the current use of the property or a use to which it is adaptable and is reasonably probable to occur in the near future. In the case of a partial taking, in addition to the fair market value of the property taken, the constitutionally required just compensation also includes any reduction in fair market of the remainder of the property caused by the taking.
Who Determines Just Compensation?
Property owners have the right to a jury trial in Illinois to determine the amount of just compensation that must be paid for a taking. The property owner and government each employ their own expert appraiser to render an opinion of the compensation owed for the taking. The final amount of just compensation may be determined in pre-trial settlement negotiations or by the jury when it renders its verdict. The general formula used by appraisers to arrive at an opinion of compensation for an eminent domain partial taking is set forth below:
- (a) Value of the Whole
- (b) Value of the Part-Taken
- (c) Value of the Remainder Before the Taking (a-b)
- (d) Value of the Remainder After the Taking
- (e) Damages to Remainder (c-d)
- (f) Total Compensation (b+e)
Any property owner who receives notice or a written offer of just compensation that all or part of their property may be acquired for a public use should meet with an experienced Kendall County eminent domain attorney at Ryan & Ryan to discuss the property interest sought by the government and whether the compensation offered is a fair price.
Kendall County Eminent Domain Attorney
The Ryan & Ryan team has been representing property owners since 1975 and have represented property owners throughout Kendall County in Plano, Yorkville, and Oswego, including those for various projects including:
- Prairie Parkway;
- Route 47;
- Route 34;
- Route 71;
- Route 31;
- Route 30; and
- Grove Road.
As a result, the attorneys at Ryan & Ryan have extensive experience in the Kendall County Circuit Court located in Yorkville, Illinois. More importantly, Ryan & Ryan will assemble the best experts to defend you in the condemnation case. It is critical to retain the right appraiser, engineer, architect, and land planner, if necessary, to analyze your property, evaluate the effect the taking will have on your property, and determine the value of the property the government seeks to take from you and any damages that equate to a reduction in value to your remaining property.
Whether you are a corporation, a local business, a homeowner, or a farmer, our team will help you protect your property and get the compensation you deserve. Get in touch with us today so we can schedule an appointment and talk about how we can keep your property safe and protected.