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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:
DOCKET # PIN LAND IMPROVEMENT TOTAL__
05-20066.001-I-1 12-13-217-050 $65,307 $195,135 $260,442
05-20066.002-I-1 12-13-217-051 $58,883 $172,075 $230,958
Subject only to the State multiplier as applicable.
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Winzeler Inc.
DOCKET NO.: 05-20066.001-I-1 and 05-20066.002-I-1
PARCEL NO.: 12-13-217-050 and 12-13-217-051
The parties of record before the Property Tax Appeal Board
(hereinafter PTAB) are Winzeler Inc., the appellant, by attorney
Mitchell L. Klein with the law firm of Schiller, Klein & McElroy
in Chicago and the Cook County Board of Review.
The subject property consists of two parcels of land totaling
41,992 square feet and improved with an 18-year old, one-story
with pit area, masonry constructed, auto service building
containing 1,705 square feet of building area. The appellant, via
counsel, argued that the market value of the subject property is
not accurately reflected in the property's assessed valuation as
the basis of this appeal.
In support of the market value argument, the appellant submitted
an appraisal of the subject property with an effective date of
January 1, 2004. The appraiser used the three traditional
approaches to value to arrive at market value. The appraiser
determined that the highest and best use to be its current use.
After reconciliation of the approaches to value, the appraisal
opined a value for the subject of $1,365,000.