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.,, <br /> . �� ^�3 <br /> . R 0 g Y & A S S 0 C I AT E S REAL ESTATE APPRAISERS <br /> 252 E. Main Street Decatur, Illinois 62523 Phone 217/428-3451 <br /> VERNE E. ROBY, SRA <br /> EDWARD A. SCHROEDER, SRA <br /> February 17, 1983 CHARLES R. McCOY <br /> Attorney John L. Greenleaf, Jr. <br /> 3080 N. Woodford Street <br /> Decatur, Illinois 62526 <br /> Re: Alley Vacation <br /> West of N. Warren and North of •�E. Coadit <br /> Decatur, Illinois <br /> Dear Mr. Greenleaf: <br /> Pursuant to your request Verne E. Roby, Charles R. McCoy and I have <br /> inspected the above captioned alley. The alley is located from <br /> N. Warren West to "T" alley between Condit and Leafland and is to the <br /> rear of Lots 1 through 11 and 20 through 30 in Block 3 Higgins Add- <br /> ition, as per Plat recorded in Book 50 at Page 386 of the Records in <br /> the Recorder's Office of Macon County, Illinois. <br /> The purpose of the inspection was to estimate value that would accrue <br /> to the recipient of the vaction rather than the usual Market Value <br /> concept. <br /> The inspection indicates an alley running East and West being 16' wide <br /> and 440' long or 7,040 sq. ft. with a variety of all weather surfacing. <br /> The City Engineers indicate an easement for poles for overhead utilities <br /> and an 8" city sewer running the full length. The area is zoned City <br /> R-6, Multi-family housing. No new construction of this type was noted. <br /> The area, in general, is older modest homes with little ownership appeal. <br /> Data in file indicates vacant land in the area tends to sell for approx- <br /> imately $1,500 per Lot reflecting $0.25 per sq. ft. The use of land <br /> to be vacated will be restricted because of the afore mentioned en- <br /> cumberances and,it is our opinion, the use of the land will be 50`/, <br /> Less. <br /> Land Value $0.25 per sq. ft. x 50% = Say $0.12 <br /> Area 7,040 S.F. x $0.12 = $844.80 <br /> Say $850.00 <br />