Property being sold for 100X Its Value

[Aaron Signer]

I was looking for comps in Belleville, IL and most are within the same 20K range until you get just outside the neighborhood. Then property values drop pretty dramatically, pretty quickly. We are talking going from mid 200's down to 60K or so.

All of the sudden, I found a house (2 bd,1 ba1,176 sqft)that was bought this year in that area for $600,000.
https://stclairil.devnetwedge....

It was bought 5 years earlier for $300,000. The time before that it was sold in 2006 for $24,500.

Site Address: 517 BELVEDERE DR BELLEVILLE, IL 62223

Any ideas on what the strategy here is?