County forest preserves benefit from economic downturn as they purchase cheaper land

The reduction in land values has not been bad for everyone: the Chicago Tribune reports that Chicago area forest preserves have bought up more land than anticipated in the past few years. Among the findings:

Flush with $185 million from a 2008 bond sale, the [Lake County] district went on a buying spree, gobbling up some 3,400 acres of land. The second-largest forest preserve system in the state at 29,300 acres, the 53-year old district has grown by nearly 12 percent since the onset of the recession.

“We spent down the money quicker than we had anticipated, mainly because there were so many good buying opportunities for us in 2009 and 2010, especially,” Hahn said…

Founded in 1971, the McHenry County Conservation District has essentially doubled over the last decade to just less than 25,000 acres…

Though the Forest Preserve District of DuPage County’s biggest growth spurt was in the 1970s, the 25,000-acre district managed to add some 2,400 acres over the last decade…

Racing the clock against development in one of the fastest-growing counties in the country, the Forest Preserve District of Will County has added about 8,300 acres since 1999, increasing its holdings by about two-thirds to nearly 21,000 acres…

The timing has been more fortuitous in Kane County, where the Forest Preserve District has added nearly 12,000 acres since 1999, increasing its holdings by 170 percent.

The only county forest preserve that didn’t add a significant amount of land was Cook County which likely has little available land. There hasn’t been too much news about these acquisitions in the Chicago area, even as these land purchases have been funded by bond sales approved by the public.

Overall, this has presented these districts with an opportunity to purchase land they might not have been able to purchase in better times. Particularly in some of the booming counties, such as Will or McHenry, this opportunity may have been the last one before suburban growth took up too much land.

This does lead to another question: how much land should Forest Preserves aim to have? I know there are recommendations about how much parkland or open space there should be for a set amount of people. Is most of this newly acquired land going to be open space/natural settings or more developed parks and recreation areas? Would there be a point where the Forest Preserves will stop purchasing or will they keep acquiring land forever?

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