Illinois Property Tax Appeals Board publishes February 2019 Decisions
PTAB published 1,840 Appeal decisions in early February. The vast majority of these decisions were stipulations. However, 18 decisions were based upon a formal hearing with witnesses and another 691 decisions were based upon evidence submitted by the parties. Cook County property owners accounted for 1,400 of the appeals and 230 cases were from Lake County. Below is a link to PTAB's February Decisions Page.
The most notable decisions from the formal hearings can be found in two cases. First, Coca Cola Enterprises won a 10% assessed value reduction for a four-building, 517,000 sf, complex in Niles Township (Oak Park Avenue north of Touhy Ave) based primarily upon the strength of its expert witnesses. Final Value = $30/sf. The only other notable reduction from a hearing was for a 200,000 s.f Maywood office building, which secured a 40% reduction. Final value = $11.50/sf. Beyond value, testimony addressed whether to exclude revenues from a billboard or antenna. If you are interested, you can link to any of the decisions on PTAB’s site. Enjoy!