While there is a TM for the word, it is also a very generic dictionary word. Generally if the content of the site is directly related to the generic word (i.e., a site about caterpillars), you should have no issue. Also, avoid parking it or putting Google AdWords on it unless you can be sure that there will be no ads for the TM holder. Additionally, since it is a generic word, you can still have a site (or get a TM) for "caterpillar" in a different industry. I would definitely recommend reading up more on TM law to avoid issues, but honestly this one isn't so worrisome since it is a very generic word and not a made-up word or modification of word(s). Single dictionary words still tend to be safe.
EDIT: You should read up on Adam Dicker and how he won a UDRP against him over Elephant.com.
Being a well recognized dictionary dot net, it has some decent value IMHO.
I'd put it at mid-high $xx reseller (could be higher if it wasn't for the TM scare).
For enduser, I'd expect it to be mid-high $xxx.
Hope this helps!