YEah its a good idea because you can make the most of your money that way easily.

What happens is that your single 1/4 acre may only be worth lets say 180,000 but the two 1/8 acre lots will go for 130k a piece (just example) so you make roughly 260k as opposed to the original possible 180k.

I have seen it work several times and 90% of the time ends up being a win situation, but I would do more research on it because my info may be off a bit and I would hate for you to do this on my say so