Property Tax Appeal Board Decision 2004-26404-I-1 Grief, Inc.

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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 No. Parcel No. Land Impr. Total
04-26404.001-I-1 29-07-101-005-0000 $64,864 $205,562 $270,426
04-26404.002-I-1 29-07-101-008-0000 $5,982 $0 $5,982
Subject only to the State multiplier as applicable.
PTAB/smw/04-26404/3-08
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Greif, Inc.
DOCKET NO.: 04-26404.001-I-1 & 04-26404.002-I-1
PARCEL NO.: 29-07-101-005-0000 & 29-07-101-008-0000
The parties of record before the Property Tax Appeal Board are
Greif, Inc., the appellant, by attorney Dennis M. Nolan of the
Law Office of Dennis M. Nolan, P.C., Bartlett; and the Cook
County Board of Review.
The subject property is improved with a one-story industrial
warehouse building containing 51,300 square feet of gross
building area. The building is approximately 35 years old and
has a clear ceiling height in the warehouse ranging from 17 to
19 feet. The improvements are located on a 258,100 square foot
site in Dixmoor, Thornton Township, Cook County.
The appellant contends the market value of the subject property
is not accurately reflected in its assessed valuation. In
support of this overvaluation argument the appellant submitted
an appraisal estimating the subject property had a market value
of $720,000 as of January 1, 2002. The appellant also submitted
a copy of the final decision issued by the Cook County Board of
Review establishing a total assessment for the subject of
$282,390, which reflects a market value of approximately
$794,990 using the Cook County Real Property Assessment
Classification Ordinance level of assessments for class 5B
industrial property and class 1-00 vacant land of 36% and 22%,
respectively. The appellant also disclosed the subject property
was the subject matter of an appeal before the Property Tax
Appeal Board the prior year under Docket No. 03-26470-I-1. In
that appeal, the Property Tax Appeal Board issued a decision
based upon an agreement of the parties to the appeal reducing
the assessment to $276,408. Based on this evidence the