While the newspaper industry continues to struggle, the Austin American Statesman has a very valuable asset: the land under it's offices and printing facility. The Statesman building sits on one of the most valuable downtown real estate parcels: 18.9 acres of lakefront land on South Congress Avenue across from downtown. The site also boasts a great view of the bats that live under the Congress Avenue bridge.Now the Statesman's parent company is considering multiple unsolicited offers for the site which experts believe could be worth $50 - $80 million. For the Statesman, it is probably not necessary . . .
