Property Tax Appeal Board Decision 2002-21132-C-3 Candlewood Hotel

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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: $ 1,254,000
IMPR.: $ 1,216,000
TOTAL: $ 2,470,000
Subject only to the State multiplier as applicable.
PTAB/lbs/070249/250/251
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Candlewood Hotel
DOCKET NO.: 02-21132.001-C-3
PARCEL NO.: 12-16-315-023-0000
The parties of record before the Property Tax Appeal Board are
Candlewood Hotel, the appellant, by attorney Patrick C. Doody, of
Golan & Christie, Chicago; the Cook County Board of Review by
Cook County Assistant State's Attorney Aaron Bilton; and the
intervenors, School District No. 81 by attorney Matthew G. Holmes
of Storino, Ramello & Durkin of Rosemont; Leyden High School
District No. 212 by attorney Ares Dalianis of Franczek Sullivan,
P.C., Chicago; and the Village of Schiller Park by attorney
Daniel P. Blondin of Raysa & Zimmermann, LLC, Park Ridge.
For hearing purposes, this appeal was consolidated with Property
Tax Appeal Docket Nos. 01-22392.001-C-3 and 03-22082.001-C-3.
The intervenors in this consolidated hearing will only be allowed
to participate in those matters pertaining to the 2002 appeal.
Any intervenor arguments will only be considered by the Board as
applicable for the date at issue, or January 1, 2002.
The subject property consists of a rectangular shaped 88,339
square foot parcel improved with a seven-story masonry
constructed, extended-stay, limited-service hotel containing
90,349 square feet of building area with a 1.98:1 land to
building ratio. The improvement was constructed in 1999 and
contains 160 guest rooms, a laundry room, a vending area and an
office. The subject is located in Leyden Township, Cook County.
As a preliminary matter, the board of review made a motion to
exclude the appellant's appraisal from evidence based on a
decision of The Property Tax Appeal Board in Docket No. 99-25370-
C-3, The Lurie Company. Counsel argued that the Board ruled that
an appraisal outside of the triennial assessment period is
irrelevant.