Property Tax Appeal Board Decision 2005-25392-R-3 1411 N. State Parkway Condo

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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: SEE PAGES 9 to 11
IMPROV.: SEE PAGES 9 to 11
TOTAL: SEE PAGES 9 to 11
Subject only to the State multiplier as applicable.
PTAB/KPP
1 of 11
PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: 1411 North State Parkway Condominium
DOCKET NO.: 03-27364.001-R-3 thru 03-27364.029-R-3
04-27345.001-R-3 thru 04-27345.029-R-3
05-25392.001-R-3 thru 05-25392.029-R-3
PARCEL NO.: See Pages 9 through 11
The parties of record before the Property Tax Appeal Board
(hereinafter PTAB) are 1411 North State Parkway Condominium, the
appellant, by Attorney David S. Martin with the law firm of Neal,
Gerber & Eisenberg LLP in Chicago and the Cook County Board of
Review.
The subject property consists of a 16,900 square foot parcel of
land located two blocks North of Lake Michigan. The land is
improved with a three and one-half story, masonry, condominium
building with 14 residential units and 15 deeded parking spaces
located in the enclosed garage area. The improvement was built
in 1906 with numerous renovations as well as a historic front
façade consisting of 130 feet. The building contains 53,072
square feet of building area inclusive of 14,062 square feet of
commercial area and 39,010 square feet of residential unit 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 for this appeal.
The PTAB finds that these appeals are within the same assessment
triennial, involve common issues of law and fact and a
consolidation of the appeals would not prejudice the rights of
the parties. Therefore, under the Official Rules of the Property
Tax Appeal Board, Section 1910.78, the PTAB hereby consolidates
the above appeals.