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It's unfortunate for Phi Sig, because according to the Leon County Property Appraiser website, Phi Sig's old house was sold for $1,000,000 in July, and had a market value of $382,197 as of 2007. It was originally built in 1932. The current owner is a newly created LLC with Sigma Nu HQ as the address. The old owner was the Phi Sig alumni association and they sold it out from under the actives.
The former Sigma Nu house is still owned by the Zeta Zeta chapter house corp and is being rented to Phi Sig. I'm not sure how much they're paying, but the market value was only $151,014 as of 2007. It was originally built in 1906. They are probably gauging Phi Sig.
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