Question: True or false? The average home in Bloomington today costs more than it cost to build Bloomington’s attractive Crestwicke Country Club clubhouse which opened 50 years ago this spring.
To respond: It’s true. The quoted cost (according to a recent “How Time Flies” column in this article) of building the Crestwicke clubhouse, built in 1971 and opened in 1972, was just $150,000. Interestingly, with the dollar having an annual inflation rate of 3.92% per year since, $150,000 in 1972 is equivalent today in purchasing power to about $1.02 million, a cumulative increase of 583 %.
Photos: Bloomington Public Library expansion will bring new features to the public