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11 <br /> 1300 N Monroe St <br /> D ecatur, Ill <br /> Summary of Comparable Land Sales <br /> Inlot/ Cost Cost <br /> Sale Date Zoning Corner FF SF Per FF Per SF <br /> �ubject 2/86 R-5 Corner 60 8,301 ---- ---- <br /> 1 10/85 R-3 Inlot 56 7,280 $ 8.93 $.07 <br /> 2 4/85 R-5 Inlot 40 7,840 12.5U .06 <br /> 3 2/85 R-5 Inlot 40 6,080 15.Q0 .lU <br /> 4 9/85 R-3 Inlot 40 6,100 i2.50 .08 <br /> 5 6/85 R-5 Inlot 40 7,040 2.50 .U1 <br /> These sales range in cost from $2.50 to $15.OU per FF and $.O1 to <br /> $.10 per SF. Generally as the size of the tract increases, the unit <br /> cost decreases. Nowever, smal ler tracts may be more di fficult to <br /> develop. <br /> Sales ,#? through #4 are located in older residential areas <br /> general ly not as strong as the subject nei ghborhood. Sal e #5, al so <br /> located in an old residential area, is on a busy street. <br /> No particular advantage was found for lots zoned R-5 as opposed to <br /> R-3 or for corner locations in residential areas. Lots in these <br /> neighborhoods are often purchased by adjoining owners and are <br /> rarely developed with new single family residences, Although <br /> located in a stronger area, subject property is very limited in <br /> use. After adjustments, subject would be towards the middle ofi the <br /> range or at a unit cost of $.05 per SF. Applying this: <br /> 8,301 SF @ $.05 or <br /> Indicated Land Value (rounded) . . . . . . . . . .�400. <br /> , <br />