Cheap Nevada Land for Sale

Land for Sale

In 1952, Howard Hughes, the famous aviator and industrialist, purchased 25,000 acres of cheap Nevada land for sale. Hughes acquired the land for the purpose of relocating his Hughes Aircraft Company from Culver City, California, to Las Vegas. Even though the acreage was located just seven miles west of the Las Vegas Strip, back in 1952 it was basically considered “worthless,” and Hughes paid the Bureau of Land Management only three dollars per acre.

However, the Hughes Aircraft Company executives put up such resistance to the proposed relocation that Hughes eventually abandoned the idea. Hughes died in 1976, and it took years to untangle his complicated estate. During this process his executors began to examine his numerous assets. Because Las Vegas was growing and expanding, they pursued the possibility of turning the 25,000 acres into a high-scale, exclusive residential development. They named the proposed community Summerlin, after Howard Hughes’ grandmother, Jean Amelia Summerlin. Home-building finally began in late 1990.

Today, Summerlin has 100,000 residents, and master planning continues for at least twice that number in future years. Summerlin is the focal point for the entire west side of the Las Vegas Valley. There is upscale shopping, numerous businesses, countless commercial buildings, 20 schools, eight golf courses, more than 100 parks, and 100 miles of trails. Summerlin is also the largest residential enclave in the State of Nevada.

What would the original 25,000 acres be worth today? The value would be at least $200,000 per acre, and much higher when the current recession ends. The 25,000 acres of cheap Nevada land for sale, acquired 60 years ago by Howard Hughes for $75,000, is now worth around $5 billion. Just another example of how “worthless” desert land can become “no longer worthless” in future years!

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