Office Complex

SUBURBAN CHICAGO, ILLINOIS

Initial Market Value $86,963,220
Final Market Value $58,213,280
Tax Savings $1,901,216

 

The subject property was recently acquired for an aggregate purchase price of $93,100,000 and its proposed assessment increased accordingly. We argued that the purchase price did not accurately represent the true fair market value of the subject property due to declining rents, rent concessions granted and the cap rates at which other properties were trading. Our valuation expertise and advocacy skills provided for a reduction without the need for a third-party appraisal or the engagement of an attorney.