85-03 VACATING PORTION OF ALLEY 1900 BLOCK NORTH WALNUT GROVE AVENUE

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� - -- - - -- - -- i - _--- -- ------ ------------- - - ---- — —-- ---- ----------------------- --------------_—__==_= i 1900 Blk N Walnut Grove 9 I'� Decatur, I11 , VALUE There are three generaTly accepted approaches to appraisal problems, I the cost, income, and market data. In this instance only the last is considered for the concern here is for land. A survey was made for sales of industrial sites in order to secure data on which to base an estimate of value for the land. Due to the lack of activity, it was necessary to go back several years. The followi.ng sales were considered pertinent: �1 Tract in back of McKeever Communications in the 2000 Block of North Walnut Grove sold March 1983 for $1,000. Lot 6 in Block 2 of J. E. Osbornes Addition and the South half of vacated Zora Avenue lying north and adjacent to Lot 6 in Block 2 and the North half of ' vacated Zora Avenue lying south and adjacent to Lot 5 and the west half of Lot 6 all in Block 1 of � said J. F. Oshornes Addition. The site has no direct road access and is approximately 210' east of North Walnut Grove. Irregular in shape, tract has a total of 8,276 SF and is zoned M-1, Light Industrial . Indicated unit cost per SF - �.12. �2 500 Block South Side Drive sold June 19�3 for $20,500. Lot adjacent east to Lugari Auto and Truck Service Center, 225' X 1 ,134.5' , 255,262 SF or 5.86 acres, zoned M-1. Access off of frontage road, low lying, and drains poorly. Indicated cost per SF - �.08 or �3,498 per acre. �3 2700 Block �lorth Woodford sold August 1983 for �22,507. Site located 220' east of PJorth Woodford in back of Valley's Tavern, purchased by adjoining owner south - Decatur Auto Parts. Lot 207.4' X 712.4' X 274.26' Y 568.24' , total of 132,802 SF or 3.05 acres. Zoned M-2, ' Heavy Industrial , indicated cost per SF - $.17.