John T. Talkington and Margaret K. Talkington - Page 3

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          is to the south of the lot, and Martin Luther King Boulevard                
          (MLK),2 which is to the west of the lot (the 11.656 acres); (2)             
          30.3 acres of vacant, unplatted land irregular in shape that                
          adjoins the 11.656 acres on the east and north of the 11.656                
          acres (the parcel of 30.3 acres);3 and (3) 8.56 acres of vacant,            
          unplatted land rectangular in shape fronting on MLK and adjoining           
          the 11.656 acres on the north of the 11.656 acres and adjoining             
          the parcel of 30.3 acres on the west of the parcel of 30.3 acres            
          (the 8.56 acres).  The Litton property was located in the                   
          northeast part of Lubbock and was zoned M-1 for light                       
          manufacturing.  The predominant use of the land around the Litton           
          property is currently agricultural.                                         
               In 1964, Litton Industries, Inc. (Litton), constructed the             
          Litton building, and Litton occupied it until 1983 when Litton              
          ceased operations.  In 1983, after Litton ceased operations, it             
          offered the Litton property for sale.  From 1983 through 1985,              
          Litton asked $1,200,000 for the Litton property.  In 1985, Litton           
          reduced the price to $900,000.  In April of 1986, Litton again              
          reduced the price to $600,000.                                              

               2  MLK was formerly North Quirt Avenue.                                
               3  Access to the parcel of 30.3 acres was available through            
          two places:  (1) Approximately 400 feet of frontage on Loop 289             
          on the south side of the parcel of 30.3 acres, and (2)                      
          approximately 615 feet of frontage on Ursuline Street on the                
          north side of the parcel of 30.3 acres.  Ursuline Street was a              
          one-lane gravel road.  The 8.56 acres, see infra, essentially               
          restricts access from MLK to the parcel of 30.3 acres.                      




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Last modified: May 25, 2011