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.• II <br /> • � DESCRIPTION OF LAND �I <br /> I At present, this site has no direct street access. Access �, <br /> i is obtained by driving over the South Towne Plaza parking �; <br /> lot, although property does front U. S. Route 51 . The site <br /> is rectangular in shape with 115 ' of frontage and 210 ' deep <br /> or has a total of 24, 150 SF. It is generally level a�ith a �, <br /> slight slope down to the southeast and drainage appears to i� <br /> be satisfactory. This tract is not located in a FiUD <br /> � Designated Flood Zone. <br /> � <br /> City water and sewer are available to the property, natural ' <br /> gas and electric are supplied to the area by the Illinois �' <br /> Power Company; however, subject property is encumbered with �' <br /> a 10 ' parkway easement and 20' water main and sewer easement I� <br /> which run across the site from east to west. '' <br /> I <br /> HIGHEST AND BEST USE ; <br /> i <br /> The highest and best use is defined as follows: <br /> I� <br /> � The most profitable Iikely use to which a property <br /> can be put. The ��pinion of such use may be based <br /> on the highest an � most profitable continuous use � <br /> to cahich the pro�erty is adapted and needed, or � <br /> 1ikeZy to be i� demand in the reasonabZy near <br /> future. However, elements affecting vaZue which �� <br /> depend upon even s or a corrcbination of occurrences ' <br /> I which, while wit ��in the realm of possibility, are ' <br /> � not fairly shown to be reasonabZy probable, should , <br /> � be e:�cluded from consideration. ; <br /> i <br /> �i ' <br /> Due to the current restrictions to the property as far as <br /> j� access, easements, and zoning, developing the site with ' <br /> �' anything except a parking lot would not be economically <br /> �� feasible . This is the current use with site having an <br /> I' asphalt surface. This would continue to be the highest and � <br /> �� best use. <br /> �'' � <br /> �I ' <br /> � <br /> II <br /> I; <br /> �' VALUE I, <br /> I; <br /> i' <br /> �; Property is currently under a long-term inase . The <br /> ' procedure involved to estimate value first sets out the ' <br /> �� lease highlights then estimates the value of the curr�nt <br /> ,� <br /> ,, income stream and the value of the reversion. <br /> I; <br /> � ' <br /> ; ' <br /> � 8 <br /> I' <br /> li <br /> i� <br /> �, <br /> F70THFUSS - HVG APPRAISEkS <br />