Property Tax Appeal Board Decision 2003-26737-R-1 Sokolowski

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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: $ 4,207
IMPR.: $23,651
TOTAL: $27,858
Subject only to the State multiplier as applicable.
PTAB/mmg
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Joanna Sokolowski
DOCKET NO.: 03-26737.001-R-1
PARCEL NO.: 17-08-114-014-0000
The parties of record before the Property Tax Appeal Board are
Joanna Sokolowski, the appellant, by attorney Gregory Lafakis of
law firm of Liston & Lafakis, of Chicago, and the Cook County
Board of Review.
The subject property consists of a masonry construction, four-story,
six-unit, apartment building with a full basement
containing 6,972 square feet of living area constructed in 1878.
The subject is located in West Chicago Township.
The appellant argued that the fair market value of the subject
was not accurately reflected in its assessed value. In support
of that argument, an appraisal report from the firm Fuhrer
Associates Real Estate Appraisers, of Berwyn was presented. The
appraiser used the three approaches to value the subject. The
appraiser arrived at an opinion of value of $275,000 for the
subject property as of the date at issue. Based on this
evidence, the appellant requested a reduction in the subject's
assessment.
The Board of review presented "Board of Review Notes on Appeal"
wherein the subject's final assessment of $50,790 was disclosed.
In addition, a comparative equity analysis consisting of two
comparables was offered. The comparables were similar to the
subject in age, location design and construction and were either
105 or 112 years of age. Square footage of living area ranged
from 5,871 to 7,575 and the assessment range per square foot of
living area was either $6.91 or $6.95. The subject is assessed
at $6.68 per square foot. Based upon this evidence, the board
requested confirmation of the subject's assessment.