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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:
DOCKET NO. PROPERTY NO. LAND IMPR. TOTAL
06-23696.001-C-1 15-13-207-001 $31,405 $130,634 $162,039
06-23696.002-C-1 15-13-207-027 $29,025 $ 54,862 $ 83,887
Subject only to the State multiplier as applicable.
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Ropa Rentals
DOCKET NO.: 06-23696.001-C-1 & 06-23696.002-C-1
PARCEL NO.: 15-13-207-001-0000 & 15-13-207-027-0000
The parties of record before the Property Tax Appeal Board (PTAB) are Ropa Rentals, the appellant, by attorney Michael Elliott of Elliott & Associates of Des Plaines and the Cook County Board of Review (board).
The subject property consists of two buildings built in 1926 and 1971. They have an aggregate building area of 20,068 square feet of retail stores, office use and apartments. The subject is a two-story, masonry, class 5-92 and class 3-18 commercial property situated on 17,723 square feet of land located in Proviso Township Cook County.
The appellant's counsel submitted evidence claiming unequal treatment in the assessment process as the basis of the appeal. In support of this argument, the appellant offered three suggested comparable class 2-12 and 2-11 properties. These properties consist of two-story properties of masonry construction and range in age from 82 to 95 years. The appellant submitted Assessor's printouts of basic descriptions of the comparables. The comparables range in size from 3,264 to 6,720 square feet. The comparables have total assessments ranging from $33,239 to $57,570 or from $8.57 to $11.04 per square foot of building area. The appellant also submitted a capitalization of the subject's income and expense data. Based on this evidence, the appellant requested a reduction in the subject's assessment.
The board of review submitted "Board of Review-Notes on Appeal" that disclosed the subject's total assessment of $250,707 which reflects a market value of $676,035 as factored by the Cook County Ordinance levels of 33% and 38%. The board submitted evidence in support of its assessed valuation of the subject property. As evidence the board offered four sales of income properties ranging in size from 16,000 to 22,056 square feet that occurred between January 2003 and April 2005 for prices ranging from $740,000 to $2,250,000 or from $42.05 to $102.74 per square