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21' decommissioned alley for sale

It runs the adjacent to the length of my house's lot (21'x150ish'). There is a power transformer maybe 3'×3'x3' at the very end of it, so I am assuming the electrical company has access rights? It just a dirt path that use to be an alley 30+ years ago. I thought the alley was owned by the city, but county records show that it is not.

It is terribly overpriced (the agent seems to be pricing the sq ft as if there is a building already there). And I don't want someone trying to build on it. I spoke to the other adjacent neighbor and we like to buy it and split it. Take 10.5' each and add to our parcels, or keep them separate depending on taxes.

First, how do make the owner realize that it is overpriced? I don't want to insult them, but it is overpriced for a vacant lot.

Second, has anyone done this successfully? Bought and then immediately split a parcel? I am going to hire a real estate attorney but I want to hear the sucesses and the horrors. Thanks!

ETA - spelling

submitted by /u/ridelikeagurl
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source https://www.reddit.com/r/RealEstate/comments/1uz0it1/21_decommissioned_alley_for_sale/
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