Property Tax Appeal Board Decision 2004-28447-R-1 Brandstetter

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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: $ 11,783
IMPR. $ 37,668
TOTAL: $ 49,451
Subject only to the State multiplier as applicable.
PTAB/mmg
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Hugo Brandstetter
DOCKET NO.: 04-28447.001-R-1
PARCEL NO.: 14-33-411-003-0000
TOWNSHIP: North Chicago
The parties of record before the Property Tax Appeal Board (PTAB)
are Hugo Brandstetter, the appellant, by attorney David Bass of
the law firm of Thompson Coburn Fagel Haber, of Chicago, and the
Cook County Board of Review (board).
The subject property consists of 125-year-old, three-story,
multi-family residence of masonry construction containing 2,532
square feet of building area. The subject features three full
baths and a basement. The appellant contends overvaluation in
the subject's assessment as the basis of the appeal. The subject
is located in North Chicago Township.
The appellant submitted a brief in support of the requested
reduction in assessed value. The appellant also submitted an
appraisal of the subject property authored by Michael MaRous,
member of the Appraisal Institute (MAI). The appraisal has an
effective date of January 1, 2003. Mr. MaRous testified at the
hearing in support of the opinion of value of $495,000 as of the
lien date at issue.
On the basis of this evidence, the appellant requested a
reduction in the total assessment to $49,500, or, in the
alternative, no more than $49,450, based upon the median level of
assessment.
The board of review submitted "Board of Review Notes on Appeal"
wherein the subject's total assessment of $56,623, was disclosed.
In addition, assessment data and descriptions on three properties
were presented. They are each two-story or three-story
residences of masonry construction located in the same area as