Property Tax Appeal Board Decision 2006-21427-C-1 Wenckus

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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: $4,840
IMPR. $ -0-
TOTAL: $4,840
Subject only to the State multiplier as applicable.
PTAB/TMcG. 8/08
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Michael Wenckus
DOCKET NO.: 06-21427.001-C-1
PARCEL NO.: 09-17-100-034-0000
The parties of record before the Property Tax Appeal Board (PTAB) are Michael Wenckus, the appellant, by attorney Joanne P. Elliott of Elliott & Associates of Des Plaines and the Cook County Board of Review (board).
The subject property consists of a highly irregular, interior parcel of land containing approximately 21,980 square feet and is located in Maine Township Cook County.
The appellant, through counsel, submitted evidence claiming that the subject's market value is not accurately reflected in its assessment. This evidence was timely filed by the appellant pursuant to the Official Rules of the Property Tax Appeal Board.
In support of this argument the appellant submitted an appraisal dated January 1, 2005 containing the sales comparison approach to value and estimating the subject's market value to be $22,000.
In the sales approach the appraiser used five vacant land sales ranging in size from 15,840 to 44,880 square feet of land area that occurred between February 2002 and October 2003 for prices ranging from $6.31 to $9.16 per square foot and after appropriate adjustments for location, shape and slope arrived at a value of $1.00 per square foot or a rounded value of $22,000 via the sales comparison approach.
Based upon this evidence, the appellant requested a reduction in the subject's total assessment to reflect the reduced market value.
The board of review submitted "Board of Review-Notes on Appeal" that disclosed the subject's total assessment of $33,224 which reflects a market value of $151,018 as factored by the Cook County Ordinance level of 22%. The board submitted evidence in support of its assessed valuation of the subject property. As evidence the board offered seven sales of vacant land that occurred between January 2001 and May 2003 for prices ranging