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Cited by 166

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The Value of a Suburban Forest Preserve: Estimates from Sales of Vacant Residential Building Lots

Thorsnes, Paul·2002·Land Economics

Abstract

This paper reports estimates of the market value of proximity to forest preserves as capitalized into the sale prices of vacant building lots in residential subdivisions that on one side border a preserve. The results indicate that building lots that border the preserve sell at premia of about $5,800 to $8,400 (19% to 35% of lot price). These proximity premia appear to be highly localized. Estimates obtained from observations on subsequent sales of houses (rather than of vacant building lots) are larger and less precisely estimated, which suggests that omitted house characteristics may bias estimates of amenity value. (JEL Q23)

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Metadata

Authors
Thorsnes, P.
Venue
Land Economics
Published
2002-08
Volume
78
Issue
3
Pages
426-441
ISSN
  • 0023-7639 (ISSN-L)
  • 1543-8325
OpenAlex
W2165273458
Cited by
166
References
0
FWCI
7.98
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: The Value of a Suburban Forest Preserve: Estimates from Sales of Vacant Residential Building Lots. https://app.cochat.ai/papers/10.2307/3146900
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Thorsnes, P. (2002). The Value of a Suburban Forest Preserve: Estimates from Sales of Vacant Residential Building Lots. Land Economics. https://doi.org/10.2307/3146900

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Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.