Property Tax Appeal Board Decision 2004-26992-R-2 933 West Van Buren Condo Assoc.

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Based on the facts and exhibits presented, the Property Tax
Appeal Board hereby finds no change 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:
SEE PAGES 4 THROUGH 7
Subject only to the State multiplier as applicable.
PTAB/lbs/09
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: 933 West Van Buren Condominium Association
DOCKET NO.: 04-26992.001-R-2 through 04-26992.076-R-2 and
05-23266.001-R-2 through 05-23266.076-R-2
PARCEL NO.: See pages 4 through 7.
The parties of record before the Property Tax Appeal Board are 933 West Van Buren Condominium Association, the appellant, by attorneys Allen A. Lefkovitz and Frederick F. Richards III of Chicago, and the Cook County Board of Review.
The subject property consists of a 76 condominium units located in a 180 unit residential condominium building. Sales of the units In the building began in December 2001 and 100% of the units were sold by July 2004. The bulk of the sales occurred in 2003. Prices for the units ranged from $139,575 to $641,759 and these units had the percentages of ownership that ranged from .3503% to 1.0042%.
The appellant, through counsel, appeared before the Property Tax Appeal Board claiming: first, 76 of the units are unequally treated in the assessment process; second, the assessments of the 76 units under appeal are excessive when the Illinois Department of Revenue's 2004 three-year median level of assessments of 9.99% is applied to the market values of the properties under appeal; and third, the market values of the units under appeal should be debased further by $3,000 for personal property. In support, the appellant submitted a brief from its attorney and settlement statements for the 76 units under appeal; a grid sheet reflecting the sales prices, sales dates, assessments, and requested reductions for the 76 units; and a grid sheet reflecting the sales prices, sales dates, assessments and percentages of ownership allocated to each of the 180 units. One of the grid sheets disclosed the sales prices of the 76 units under appeal including an estimate of the percentage the assessments were above or below a 10% level of assessments. The sales prices on this grid were adjusted by $3,000 for personal property.
Counsel argued that in the prior year the Property Tax Appeal Board erred when it disregarded the practice of the Cook County Board when disallowing a deduction for personal property because personal property was not deducted on the real estate transfer declarations of 35 of the units under appeal. This, counsel