Property Tax Appeal Board Decision 2004-24360-C-1 Glenbrook Security Serv. Inc.

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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: $73,762
IMPR. $ -0-
TOTAL: $73,762
Subject only to the State multiplier as applicable.
PTAB/TMcG. 5/08
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Glenbrook Security Services, Inc.
DOCKET NO.: 04-24360.001-C-1
PARCEL NO.: 03-14-407-005-0000
The parties of record before the Property Tax Appeal Board are
Glenbrook Security Services, Inc., the appellant, by attorney
Leslie L. Hedges of the Law Offices of Terrence Kennedy, Jr. of
Chicago and the Cook County Board of Review.
The subject property consists of a 60,960 square foot vacant
resubdivided class 1-00 lot zoned B-3 General Commercial and
Office located in Wheeling Township Cook County.
The appellant's counsel appeared before the PTAB and submitted
evidence claiming unequal treatment in the assessment process as
the basis of the appeal. In support of this argument, the
appellant offered seven lots located in blocks 407 and 408. Two
lots are assigned a market value of $5.25 per square foot and
five are valued at $5.50 per square foot. These are class 5,
class 6 and class 1 properties factored at 16%, 22%, 36% and 38%.
The subject and parcel 407-004 were the result of a resub in
1999. The appellant requests an equally uniform assessment for
the subject. 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 $107,289 which
reflects a market value of $487,677 or $8.00 per square foot 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 four sales of
vacant lots ranging in size from 44,640 to 130,114 square feet of
land, sales that occurred between June 2002 and October 2005 for
prices ranging from $725,000 to $1,655,000 or from $12.72 to
$14.97 per square foot of land. No analysis and adjustment of
the sales data was provided by the board. Two of the sales are
beyond the assessment date and one is located in Lake County.