Property Tax Appeal Board Decision 2005-25075-I-1 Paolella

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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:
DOCKET # PIN LAND IMPRVMNT TOTAL
04-26310.001-I-1 08-27-300-033 $22,997 $49,003 $72,000
05-25075.001-I-1 08-27-300-033 $22,997 $49,003 $72,000
Subject only to the State multiplier as applicable.
PTAB/0575JBV
1 of 3
PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Dominic Paolella
DOCKET NO.: 04-26310.001-I-1
05-25075.001-I-1
PARCEL NO.: 08-27-300-033
The parties of record before the Property Tax Appeal Board
(hereinafter PTAB) are Dominic Paolella, the appellant, by
attorney Michael E. Crane with the law firm of Crane and Norcross
in Chicago and the Cook County Board of Review.
The subject property consists of two parcels of land containing
15,031 square feet and improved with one-story, masonry
constructed, industrial building with 5,600 square feet of
building area. The appellant, via counsel, argued that the market
value of the subject property is not accurately reflected in the
property's assessed valuation as the basis of this appeal.
The PTAB finds that these appeals are within the same assessment
triennial, involve common issues of law and fact and a
consolidation of the appeals would not prejudice the rights of
the parties. Therefore, under the Official Rules of the Property
Tax Appeal Board, Section 1910.78, the PTAB consolidates the
above appeals.
In support of the market value argument, the appellant submitted
an appraisal of the subject property with an effective date of
January 1, 2004. The appraiser used the three traditional
approaches to value to arrive at market value of $200,000. The