Case Studies

The following is a representative sampling of the properties represented by John P. Fitzgerald, Ltd.

Automobile Dealership

Village of Tinley Park, Cook County, Illinois
The subject property is a one story- two story automobile dealership containing 35,185 square feet, on a parcel of land consisting of 239,613 square feet. The subject property is currently being leased by the client.

Return to top


Industrial Tax Incentive
City of Chicago, Cook County, Illinois
An industrial complex located in the Lake Calumet Industrial District on the southeast side of Chicago. The site is improved with a 250,000 sq. ft. building that formerly housed the General Mills cereal plant. The plant was vacant for approximately two years prior to our client's acquisition.

Immediately after the acquisition was completed we requested Class 6b status from the Chicago City Council. Our request was granted during the summer of 2003. Next, we filed a petition for Class 6b status with the Cook County Assessor. That request was granted during June 2004.
Return to top

Bulk-Transfer Warehouse

City of Chicago, Cook County, Illinois
The subject property is a bulk warehouse located in the Lake Calumet District of Chicago. The building area is approximately 81,200 square feet on a parcel consisting of approximately 488,000 square feet.

Return to top

Commercial Strip-Center

Village of Orland Park, Cook County, Illinois
The subject property consists of two separate masonry-constructed, strip centers located in Orland Park, Illinois. The buildings are twelve years old and consist of 52,000 square feet of retail space on a parcel approximately 211,100 square feet. The subject property was purchased in 1997 by the client, for a total consideration of $4,100,000. The acquisition was considered non-arms-length because of unique income tax considerations.

Return to top

Commercial-Warehouse Facility

Village of Alsip, Cook County, Illinois
The subject property, located in Alsip, Illinois, is a one story plus mezzanine, sprinkled, warehouse building with a large display area and consist of approximately 23,362 square feet, on 40,805 square foot parcel. The building was constructed in 1991 with an addition in 1996.

Return to top

Industrial

Town of Barrington, Cook County, Illinois
The subject property, located in unincorporated Barrington Township, consists of an 11- and 29-year-old, masonry and metal panel, industrial facility containing approximately 25,364 square feet. The improvement is situated on a parcel of land containing approximately 301,000 square feet or 6.91 acres.

Return to top

Hotel
City of Chicago, Cook County, Illinois
One of the larger hotels in Downtown Chicago and owned by a governmental pension fund. The property was purchased during 1997 for over $56,000,000 in a transaction which included land and building, a going concern and business equipment.

Industrial

Palatine Township, Cook County, Illinois
The property consists of a 32-year-old, single-story, masonry and metal panel, industrial building containing approximately 51,000 square feet. The property is situated on a parcel of land containing approximately 105,201 square feet.

Return to top

Industrial

Wheeling Township, Cook County, Illinois
The subject property consists of a seven-year-old, single-story, masonry, single-tenant industrial building containing approximately 30,125 square feet. The improvement is situated on a parcel of land containing approximately 136,385 square feet or 3.13 acres.

Return to top

Industrial

Worth Township, Cook County, Illinois
The subject property is a 42-year-old, one-story, sprinkled industrial building consisting of a 23,000 square feet building on a 36,000 square foot parcel of land.

Return to top

Leasehold

City of Chicago, Cook County, Illinois
The subject property is a 362,000 square foot aircraft hangar located on a parcel of land leased from the City of Chicago at O'Hare International Airport. The lease and leasehold improvements were purchased by the client during 1999 for $5,000,000. The transaction, premised upon income tax considerations was not arms-length.

Return to top



Multifamily Housing

Village of Tinley Park, Cook County, Illinois
The subject property, located in an unincorporated area near Tinley Park, Illinois is a multifamily housing complex, containing 192 units. The complex is approximately 40 years old.

Multifamily Housing
City of Oak Forest, Cook County, Illinois
A 33-year-old, 165-unit apartment complex located in a stable area of Bremen Township.

Multifamily Housing
Village of Alsip , Cook County, Illinois
The subject property is a 29-year-old apartment complex containing 144 residential units. I



Self-Storage Warehouse

City of Chicago, Cook County, Illinois
The subject property is a mill-constructed, self-storage warehouse, consisting of a 89,000 square foot, building on a 42,000 square foot parcel, located in the South Loop area of Chicago. The building is 105 years old. The property was purchased by the client and substantially rehabbed.

The Assessor increased the 2001 market value to $3,337,092. A complaint was filed with the Assessor on the basis that the market value of the property had diminished due to vacancy problems. The Assessor reduced the 2001 market value to $818,000 for a tax savings of $165,000.

During tax year 2002, the Assessor increased the market value to $3,355,418. A complaint was again filed with the Assessor premised upon diminished market value due to vacancy problems. Pursuant to that complaint, the 2002 market value was reduced to $1,275,059 for a tax savings of over $135,000.

Return to top



Special Purpose- Ice Arena
Village of Crestwood, Cook County, Illinois
The subject property is a 30+ year-old special purpose building containing a full-sized ice arena and a lounge. The arena is leased out to various hockey clubs and local high school teams. The fact that my son learned to play and still plays hockey in this building, made the outcome of this case very significant to me personally.

Pursuant to the 2002 triennial reassessment, the Assessor increased the market value 74% to $1,419,350. I contacted the appraiser who had written reports on the property for the clients previous tax attorney. Surprisingly, he told me he could not write an appraisal for anywhere near a market value which would be beneficial to the client. Another appraiser was engaged. A complaint was filed before the Cook County Assessor and after a series of re-review conferences the market value was reduced to $1,035,032. Next, I filed before the Board of Review. A hearing was held on April 29, 2003 and on May 21, 2003, the Board of Review reduced the market value to $833,937, an increase of only 2.3% since 1999.

Warehouse

Elk Grove Village, Cook County, Illinois
The subject property is a warehouse containing 76,300 square feet, located in Elk Grove Village, a Chicago suburb which is adjacent to O'Hare Airport. The building is 3 years old,100% sprinkled and has clear ceiling spans of 42 feet.

The Assessor increased the 2001 market value to $2,838,036. An appeal was filed with the Cook County Board of Review and evidence of market value @ $2,200,000, in the form of an MAI appraisal, was introduced at the hearing. On June 5, 2002, the Board of Review reduced the market value to $2,228,000 for a three year tax savings of over $125,000.

Return to top

Property Tax Appeals Board
City of Blue Island, Cook County, Illinois
The subject property is a lumber yard which obtained a substantial reduction from the Cook County Board of Review during the 2005-07 reassessment. After consulting with the client, a decision was made to seek a further reduction at the Property Tax appeals Board. Prior to the hearing, Cook County officials filed a brief in opposition to our request and refused to make a settlement offer. The hearing was held on September 30, 2008. On December 8, 2008, PTAB published their decision to reduce the 2005 assessed valuation to the amount we requested.