Property Tax Appeal Board Decision 2003-23529-I-1 Susmilch

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Based on the facts and exhibits presented, the Property Tax
Appeal Board hereby finds a reduction in the assessment of the
property as established by the Cook County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: $ 14,175
IMPR.: $ 50,625
TOTAL: $ 64,800
Subject only to the State multiplier as applicable.
PTAB/SMW/03-23529/11-07
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Leonard Susmilch
DOCKET NO.: 03-23529.001-I-1
PARCEL NO.: 19-21-114-088-0000
The parties of record before the Property Tax Appeal Board are
Leonard Susmilch, the appellant, by attorney William Schloss of
Northbrook; and the Cook County Board of Review.
The subject property is improved with an industrial building that
is located in Bedford Park, Stickney Township, Cook County.
The appellant contends overvaluation as the basis of the appeal.
In support of this argument the appellant's attorney completed
Section IV of the Industrial Appeal Form and submitted a closing
statement disclosing the subject was purchased in October 2003
for a price of $180,000. Information on the appeal form
disclosed the parties to the transaction were not related and the
property was listed on the open market through the multiple
listing service. The appellant in this appeal also indicated the
subject property had a total assessment of $111,798, which
reflects a market value of $310,550 using the 36% level of
assessment for class 5b property as defined by the Cook County
Real Property Assessment Classification Ordinance. Based on this
evidence the appellant requested the subject's assessment be
reduced to $64,800 to reflect the purchase price.
The board of review did not submit its "Board of Review Notes on
Appeal" or any evidence in support of its assessed valuation of
the subject property.
After reviewing the record and considering the evidence, the
Property Tax Appeal Board finds that it has jurisdiction over the
parties and the subject matter of this appeal. The Board further
finds the evidence in the record supports a reduction in the
subject's assessment.