With the fate of a casino in Russellville still up in the air, several local landowners have already hit jackpots with property sales to Legends Resort, the Cherokee Nation business entity that holds a state permit for a casino resort.
County assessor records show at least 12 parcels totaling 97.9 acres have been sold to Legends since January for $22.5 million, or more than $230,000 an acre on average. The sale prices vary, but all were over $100,000 an acre, some for pasture land or otherwise undeveloped tracts.
The most valuable piece of property was purchased on March 30 from the Duvall Family Partnership – 4.38 acres on Hob Nob Road for $3.975 million, or more than $907,000 an acre.
