CHICAGO-Prices of the well-developed island assets located nearby highly inhabited areas have declined. However, sales of luxurious and isolated private islands in astonishing localities have been stable during the economic downturn. In this summer, about 11 islands were put on sale with prices varying from $595,000 to $3.5 million.
The price tag of a 16-acre undeveloped Ram Island located in Machias Bay, Maine, is $595,000, while a 4.5-acre developed Taylor Island located in Solomons, Maryland, near Patuxent River was valued at $3.5 million. For the full story, go to Chicago Tribune.
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