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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:
LAND: $220,692
IMPR. $570,902
TOTAL: $772,902
Subject only to the State multiplier as applicable.
PTAB/TMcG. 5/08
1 of 5
PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Distelheim Family Ltd. Partnership
DOCKET NO.: 04-28389.001-C-1
PARCEL NO.: 17-03-207-019-0000
TOWNSHIP: North
The parties of record before the Property Tax Appeal Board are
the Distelheim Family Ltd. Partnership, the appellant, by
attorney Terrence Kennedy, Jr. of the Law Offices of Terrence
Kennedy, Jr. of Chicago and the Cook County Board of Review.
The subject property consists of a 49-year-old, five-story, with
basement, masonry, class 5-91 commercial/retail building situated
on 3,180 square feet of land located in North Township Cook
County.
The appellant, through counsel, submitted evidence claiming
unequal treatment in the assessment process and an incorrect
market value as the basis of the appeal.
The appellant claimed the subject contained 10,705 square feet of
building area. The 4905 buff card indicates 12,846 square feet
by including the basement area. The buff card discloses the
basement includes central air conditioning and a divided finished
area. For analysis purposes the PTAB will include the basement
area, as did the Assessor, resulting in a building of 12,846
square feet.
In support of the market value argument the appellant submitted
income and expenses and a stabilized gross income capitalized
into a market value of $1,847,856 or a suggested assessed value
of $702,185.
In support of the equity argument, the appellant offered ten
suggested comparable mixed use commercial properties. These
properties consist of two to four-story class 5-91 or 5-92
properties that range in age from 13 to 108 years. The appellant
submitted Assessor's printouts and 4905 buff cards for the
