Instructions for Commercial Schedules

              Illinois Department of Revenue
Brian Hamer, Director
Publication 126 May 2006
Instructions for Commercial Schedules
The information in this publication is
current as of the date of the publication.
Please visit our web site at
tax.illinois.gov to verify you have the
most current revision.
The contents of this publication are
informational only and do not take the
place of statutes, rules, or court
decisions. For many topics covered in
this publication, we have provided a
reference to the Illinois Property Tax
Code for further clarification or more
detail. All of the sections and parts
referenced can be found at 35 ILCS
200/1 et seq.
About this publication
Pub-126, Instructions for Commercial Schedules, is issued according to
Section 8-5 of the Property Tax Code which states, “The Department shall confer
with, advise and assist local assessment officers relative to the performance of
their duties.”
The pricing schedules in this publication have been developed to help assessors
estimate the replacement cost of typical commercial structures, as well as apart-ments,
motels and hotels, fast-food restaurants, convenience stores, gasoline
service stations, and banks. The assessor’s professional judgement still greatly
affects the outcome of this system.
Get forms and other information faster and easier at tax.illinois.gov
Contents
Acronyms used in Pub-126 1
Commercial square foot schedules
Schedules 2
Subsidiary schedules 3
REL Table instructions 4
REL Table 5
Sample appraisal 6
Apartment Schedules 8
REL Table 9
Sample Appraisal 10
Motel-Hotel Schedules
Instructions 15
Schedules 17
Fast-food restaurant schedule 19
Convenience stores schedule 19
Gasoline service station schedules 20
Bank schedule 21
Sample Appraisal 22
Special Use Building Cost Guide 23
For information or Forms 24
Acronyms used in this publication
BPA Base price adjustment
CIP Component-in-place
LB Load bearing
RCN Replacement cost new
REL Remaining economic life
SF Square foot
SFFA Square foot of floor area
SFGA Square foot ground area
SFSA Square foot surface area
WH Wall height
Note: For definitions of common constructions terms, see Publication 124,
Construction Terms.
Commercial Square Foot Schedule Instructions
The commercial square foot schedule has been developed for pricing the typical
mercantile building of 1 through 4 stories. The schedule is also appropriate for free-standing
mercantile buildings and pre-engineered steel store and office buildings.
Use the component-in-place (CIP) method for large mercantile installations and
high rise office complexes. Price apartment buildings from the apartment schedule.
Supermarkets to 32,000 SF, discount centers to 140,000 SF, and pre-engineered
steel store and office buildings to 8,000 SF can be priced from these schedules.
Buildings used for these purposes that exceed these size limitations should be
priced by using the CIP schedules.