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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: $ 40,773
IMPR.: $ 215,227
TOTAL: $ 256,000
Subject only to the State multiplier as applicable.
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: VIP III, LLC
DOCKET NO.: 05-22732.001-I-1
PARCEL NO.: 23-12-400-029-0000
The parties of record before the Property Tax Appeal Board are VIP III, LLC, the appellant, by attorney Robert Welsh of Madigan & Getzendanner, Chicago, and the Cook County Board of Review.
The appellant in this appeal submitted documentation to demonstrate that the subject property was improperly assessed. This evidence was timely filed by the appellant pursuant to the Official Rules of the Property Tax Appeal Board.
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 appellant in this appeal submitted evidence in support of the contention that the subject property was not accurately assessed. The board of review did not submit any evidence in support of its assessment of the subject property as required by Section 1910.40(a) of the Official Rules of the Property Tax Appeal Board. The Board has examined the information submitted by the appellant and finds that it supports a reduction in the assessed valuation of the subject property.