The POA's ownership appears to include most of the properties inthe area bound by Sahara on the south, Las Vegas Boulevard and MainStreet on the east, Wyoming on the north and Industrial on thewest. The properties host industrial and commercial properties,many multifamily developments and a few single-family homes.Wright's property is a residential cooperative. Other properties inthe area also are on the market through other channels, and someproperties are not on the market at this time.

Given the September 2007 saleof 40 acres immediately across Sahara (top of the photo) for $20million per acre to MGM, Wright figures the 100 acres the NakedCity POA represents as a whole is worth at least $15 million anacre, though admits that a $10-million-per-acre offer likely wouldsnare 90% of the POA. "I'm 66 and some of us (in the POA) are inour 70s. I know only a couple of young owners." Wright says. "Mostof us are at retirement age and would like to sell out. It is agreat opportunity for someone like Steve Wynn or Sheldon Adelson orsomeone from Dubai."

At least a portion of Naked City is now rumored to be thefavored site for an 85-acre, arena-anchored mixed-use developmentby Real Estate Interests Group of Bloomfield Hills, MI, whichpreviously had been looking further north. REI is reportedlylooking closer to the Stratosphere in part because its new arenapartner, the Cordish Co., has a relationship with Goldman Sachs& Co., which acquired the Stratosphere Resort from IchanEnterprises earlier this year. Icahn reportedly still owns some keyparcels north and south of the resort.