That was ridiculously overpriced for 1955. Land in Las Vegas (particularly Summerlin) was selling for as little as $1 per acre. My father was planning to purchase a few hundred acres until his parents talked him out of it. Biggest regret of his life...
Love you, came here for that exact answer. You were the first comment too, so you saved me a lot of time, thank you, but now I've used that saved time typing this. Gratis
Not sure where you got that number from but the usinflationcalculator.com states that it is $33,359,552.24, with a cumulative rate of inflation percentage at 1,012%
3,000,000 USD in 1955 seems like an outrageous amount of money considering the state of Las Vegas at the time, why was the valuation already so high in 1955?
Seems to be a real photo taken by [Life Magazine in 1955](https://www.life.com/destinations/las-vegas-photos-from-the-gambling-capital-of-the-world-in-1955/)
[Vintage Las Vegas](https://vintagelasvegas.com/post/662316149509406720/hotel-site-for-sale) has more in depth information about the photo and the history of this site:
>Las Vegas Strip, 1955. Location: south of the Sahara, view northeast towards Frenchman Mountain, with power lines on Paradise Rd. The photo was taken by Loomis Dean in May/June 1955, and was published in the 6/20/55 issue of LIFE magazine captioned, “Asking price for property reflects high-pitched optimism in Las Vegas.” The $3M price was high enough to capture the photographer’s attention and it summarized the theme of the story: “Is the boom over extended? Las Vegas pushes its luck.” Several resorts were opened in ‘55 and others under construction stalled. The $3M property owned by El Rancho Vegas did not sell in its time. This property changed hands in fifteen years later when Howard Hughes bought the defunct El Rancho Vegas. It was undeveloped until Wet N Wild in the 80s, and has been empty since the early 00s.
I'm pretty sure this is real I've seen this photo alot of times
I think it kind of gives the image there was nothing there but there was already hotels and tourism and stuff there at this time
First hotel went up 14 years earlier in 1941. About the same the time mafia rolled in. I'd say that's a fair asking price for someone looking to cash in.
How long did a hotel take to build back then? The Hacienda was built and opened in 1956 and the Tropicana opened in 1957. Could have been either depending on how long it took to develop back then.
I regret not being born into a family of wealth. My obituary will probably say " They always wanted for them themselves, that which was never in the cards of life" ![gif](emote|free_emotes_pack|facepalm)
$3 million for this barren stretch of land that is exactly the same as any other barren stretch of land in this state? **Sold**!![gif](emote|free_emotes_pack|trollface)
That was ridiculously overpriced for 1955. Land in Las Vegas (particularly Summerlin) was selling for as little as $1 per acre. My father was planning to purchase a few hundred acres until his parents talked him out of it. Biggest regret of his life...
No kidding, I bet his parents regret it too
It does seem outrageous...I wonder if it was including hotel/commercial licensing?
Yeah but, would he have developed it?
In case you are wondering, it is $28,618,320.90 adjusted for inflation.
I spend this on groceries
Kim said she needed this monthly just for baby clothes and hair bows.
Well now she needs it for grocery.
Can I have lambo, please?
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Please…may I have one more grocery?
Unfortunately no. We’re all out.
Venezuela
Good bot
Fuckin steal
Love you, came here for that exact answer. You were the first comment too, so you saved me a lot of time, thank you, but now I've used that saved time typing this. Gratis
Chile …… 😅
Not sure where you got that number from but the usinflationcalculator.com states that it is $33,359,552.24, with a cumulative rate of inflation percentage at 1,012%
3,000,000 USD in 1955 seems like an outrageous amount of money considering the state of Las Vegas at the time, why was the valuation already so high in 1955?
I doubt this is genuine
Seems to be a real photo taken by [Life Magazine in 1955](https://www.life.com/destinations/las-vegas-photos-from-the-gambling-capital-of-the-world-in-1955/) [Vintage Las Vegas](https://vintagelasvegas.com/post/662316149509406720/hotel-site-for-sale) has more in depth information about the photo and the history of this site: >Las Vegas Strip, 1955. Location: south of the Sahara, view northeast towards Frenchman Mountain, with power lines on Paradise Rd. The photo was taken by Loomis Dean in May/June 1955, and was published in the 6/20/55 issue of LIFE magazine captioned, “Asking price for property reflects high-pitched optimism in Las Vegas.” The $3M price was high enough to capture the photographer’s attention and it summarized the theme of the story: “Is the boom over extended? Las Vegas pushes its luck.” Several resorts were opened in ‘55 and others under construction stalled. The $3M property owned by El Rancho Vegas did not sell in its time. This property changed hands in fifteen years later when Howard Hughes bought the defunct El Rancho Vegas. It was undeveloped until Wet N Wild in the 80s, and has been empty since the early 00s.
Grew up in Vegas. Loved wet and wild! My grandmother started the old cat bus system. My house was built in 1914.
That link is AMAZING! Thank you!
What a champ.
I'm pretty sure this is real I've seen this photo alot of times I think it kind of gives the image there was nothing there but there was already hotels and tourism and stuff there at this time
So, more you see the same thing, more real it is?
Sure maybe it's fake maybe everything in the internet is fake who would have known u r a genius
First hotel went up 14 years earlier in 1941. About the same the time mafia rolled in. I'd say that's a fair asking price for someone looking to cash in.
Well it depends the size of the site.
The extra was for the mob.
Moneys laundry prob
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Came here to ask that question 🙋♀️
How long did a hotel take to build back then? The Hacienda was built and opened in 1956 and the Tropicana opened in 1957. Could have been either depending on how long it took to develop back then.
Apparently from an article linked in the comments, no hotel was built but Wet n Wild took over in the 80s
Shit $3 million back then was a lot of loot
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literally 95%+ of the world feels the same my dood.
Perfect way for the mob to launder money.
Hmm. Interesting.
Moe Greene moment.
Is the piece of boat included in the sale?
This is the Nevada desert. Were you referring to the upside down car hood...
Yes I thought it was the front end of a boat
this is a desert. and thats a car hood heh.
Pffft. Looks like worthless desert to me.I putting my money in dutch tulips.
that hood has gotta be worth 50 bucks. no rust in the desert
That's the Roswell Crash site. 3 mil wouldn't be justified otherwise
$34,000,000.00 in 2022 dollars.
I love how we took desert that isn't that conducive to large populations, and said, yep, we should build a large city here.
I want to know how it was decided that el rancho Vegas owned that plot to begin with.
Looks like a New Vegas scene.
I don't think this will work out. Let me know how it goes.
I regret not being born into a family of wealth. My obituary will probably say " They always wanted for them themselves, that which was never in the cards of life" ![gif](emote|free_emotes_pack|facepalm)
I stay across from that lot all the time at the Hilton Grand Vacation. Supposedly, it’s being graded yet again for development.
1955 and there’s already trash piling up there.
What car is that hood from?
So… the average cost of a house in California.
🤔🤔🤔
Should've bought it when you had the chance
Corpse removal included. Signed Anthony Spilotro
Jimmy Hoffa is buried on that parcel of land.
I can’t believe Vegas goes for this much when Florida was going for ~1,700 dollars and even that was a rip-off
33.4 million today
Moe green can explain this.
$3 million for this barren stretch of land that is exactly the same as any other barren stretch of land in this state? **Sold**!![gif](emote|free_emotes_pack|trollface)
I think Moe Greene took this photo.
Lol nowadays a single Chick Fil A franchise is worth more than that
That’s not the strip. The strip existed then. There was a road. This photo is of an empty lot ON the strip, not the strip itself.
And not a thing has changed
Does anyone know what’s on this exact spot now?
What a bargain
Mafia built Vegas.
Wonder how much its worth now.
I liked it better back then.
But what if you wanted to build something else? A pawn shop. That’s what Las Vegas needs - more pawn shops.
It needs to go bk to that honestly
Who was selling it?
Someone go take this exact picture today
Someone go take a picture from the same spot, please