It's quite possible that the majority of the value in the property is in the land. Say out of $12 million, maybe $10 million is in the land, in which case, tearing an old house down to build a new one is not that far fetched.
The new house could be worth $24 million.
Highest and Best Use......
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Calgary Flames, PLEASE GO TO THE NET! AND SHOOT THE PUCK! GENERATING OFFENSE IS NOT DIFFICULT! SKATE HARD, SHOOT HARD, CRASH THE NET HARD!
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