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� �'-�2.�`l�{•S' � ` _ <br /> �� � �r'Oil 0 � I�73 <br /> j ,Ae;� � I'�� ����r J-�' � � <br /> :�r� � <br /> CHLJRCH AT ELD�RADD <br /> ��"� . <br /> � ���� <br /> DECATUR ?�"�a; 1LLINOIS • <br /> raEu+BER Or � R[AL [STATE ■ALL9 8 MTGB. <br /> DECAT�Jq BOAFO O� qE4LTOR9 ZIP CODE 62522 PROP[RTY MANAOLM[NT <br /> N4TIONAL REAL E9TATE BOARp9 APPRAI$A68 6 INBURANCC <br /> PHONE 429-5219 <br /> Idov. 6, 1973 <br /> i�s. iieniu.5 U. ��ou�e�•5, �i�oi���cy . <br /> Denz, Loz•re, ?•�(oore, Redgers & See� <br /> 1055 Citizen:� Building <br /> P.C. Box i�'15�7 <br /> Deca�ur� Tllinois 62525 <br /> Re: Review of Appraisals - <br /> Citv-o�•aned Trian�ular Land Pa-rcel <br /> 900 Block So. AIain St., Decatur,T`llo <br /> De�r Dennis: <br /> At your rsqu :st, I have exar.iined the problem of the Janes property on <br /> the ?.est s1d� of the 900 Block South P�iain Street in light of ne:�, facts <br /> resultin� from tne Cit�r of Decatur 1 s 1��?unicipal Code Div:i sion i�91, <br /> !i:Tacat�n� o_f Streets and �11eys" -- pa`e ;t"106. Thafi, portion o? the code <br /> stat,es basic ally that the o:•.ner of property abuttin; a s�reet, a part or <br /> aL o` t�rhic� is to be vacated, sh�.11 bay a. co�pensation equal to the <br /> bene�its he receives by reason of that vacation. <br /> In an apprai.sal report prepared by our Company in 1963 on a tract o�' land <br /> in the Jesse i. Janes estate, a sugoestion ti•ras made that the reirs could <br /> �chieve a ���,-reatpr usa�e oi the property by requestii_ng a vacat�on of ci_�y <br /> ot��ned property blocl:in� �n.e subject frorn m�imum po-tential access. <br /> A proposal t�.as r�ade b� the City to vaca�ce a trian�ular shap2l tract� <br /> abuttin� tne Ja.nes property ancl appro�imately Z��300 squa�e feet �n size <br /> but no�; ir_cludin� -tize critical i ronLa�e a?ong South T'iain S�reet. In <br /> fact, no adclitional fror_tabe �•ras to be �ained Uy th^ purchase of the <br /> ci�;;T o:•m�d prop�rty by �,he Janes Trus�ees. `l�hus the added benefits ti;hich <br /> the ���-r_ns �.'rl.ist ti•rould. receizTe by tne vacation of that vortion of Sout:? <br /> �•ia;.n Street is, at best, qu�s-cior.able. lhere mig'nt be som� s]_ir ht added <br /> bene�'it due to plo�ta;e -- tha�L is the tialue increr�ent arising from com- <br /> bir_�ng i.�Jo or more sites and resultin� in a greater ag�regate util�ity. <br /> ^lhere has been a rVference r�ad.e by a Cor.porat�on Council to u spec•ific <br /> pror��rt;� vacation involtrl.n� i,?or�:� Pir_e Stx�e�t, separa�Lir;�; tT,ro parcel� <br /> o:F land o��m.ed bjr t�ie i-:ueller Compar,�r. 1'ne v�il.ue of -t:�;o parcels of <br /> . ,� <br />