Property Tax Appeal Board Decision 2004-27285-R-1 Hyatt

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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: $ 34,080
IMPR.: $ 77,392
TOTAL: $ 111,472
Subject only to the State multiplier as applicable.
PTAB/smw/04-27285/3-09
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: William Hyatt
DOCKET NO.: 04-27285.001-R-1
PARCEL NO.: 05-27-100-040-0000
The parties of record before the Property Tax Appeal Board are William Hyatt, the appellant, by attorney Arnold G. Siegel, of Chicago, Illinois; and the Cook County Board of Review.
The subject property is improved with a 41-year old, two-story dwelling of frame and masonry exterior construction containing 3,206 square feet of living area. Features of the dwelling include a partial unfinished basement, central air conditioning, a fireplace and a two-car detached garage.
The appellant's appeal is based on unequal treatment in the assessment process. In support of this argument the appellant submitted information on six comparable properties described as two-story frame, masonry or frame and masonry dwellings that range in age from 30 to 62 years old for consideration. The comparables range in size from 2,774 to 3,695 square feet of living area. Each of the comparables has a full or partial unfinished basement, five comparables have central air conditioning, each comparable has 1 or 2 fireplaces and each comparable has either a 1.5 or 2-car garage. The comparables had total assessments that ranged from $100,358 to $146,193 and improvement assessments that ranged from $63,348 to $95,780 or from $22.20 to $25.92 per square foot of living area. The subject has a total assessment of $126,252 and an improvement assessment of $92,172 or $28.75 per square foot of living area. The appellant argued the subject's improvement assessment equates to a market value of $179.69 per square foot of living area which is 19.2% more than the average market value reflected by the improvement assessments for the comparables of $150.78 per square foot. Based on this evidence, the appellant requested the subject's improvement assessment be reduced to reflect a market value of $150.78 per square foot resulting in an improvement assessment of $77,344 or $24.12 per square foot of living area.