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Home My WebLink AboutResolution #5439 - sale of surplus public real estate located at or about 920 W. LocustRESOLUTION NO. 5439 A RESOLUTION AUTHORIZING SALE OF SURPLUS PUBLIC REAL ESTATE LOCATED AT OR ABOUT 920 W. LOCUST STREET WHEREAS, the City of Canton, Fulton County, Illinois ("City"), is a non -home rule unit of government; WHEREAS, Section 11-76-4.1 of the Illinois Municipal Code (65 ILCS 5/11-76-4.1) provides: Sale of surplus real estate. The corporate authorities of a municipality by resolution may authorize the sale or public auction of surplus public real estate. The value of the real estate shall be determined by a written MAI certified appraisal or by a written certified appraisal of a State certified or licensed real estate appraiser. The appraisal shall be available for public inspection. The resolution may direct the sale to be conducted by the staff of the municipality; by listing with local licensed real estate agencies, in which case the terms. of the agent's compensation shall be included in the resolution; or by public auction. The resolution shall be published at the first opportunity following its passage in a newspaper published in the municipality or, if none, then in a newspaper published in the county where the municipality is located. The resolution shall also contain pertinent information concerning the size, use, and zoning of the real estate and the terms of sale. The corporate authorities may accept any contract proposal determined by them to be in the best interest of the municipality by a vote of two-thirds of the corporate authorities then holding office, but in no event at a price less than 80% of the appraised value. WHEREAS, the City currently owns the following described surplus real estate (hereinafter the "Surplus Real Estate") TRACT 1: A part of the Southeast Quarter of Section 28, Township 7 North, Range'4 East of the Fourth Principal Meridian, in the County of Fulton and State of Illinois, more particularly described as follows and bearing are for descriptive purposes: Commencing at the Northwest corner of said Southeast Quarter marked by a drill hold, thence bearing South 0 degrees 55 minutes 00 seconds West, a distance of 446.31 feet along the West line of said Southeast Quarter to the Actual Point of Beginning; thence along the Southerly right-of-way line of State Route 9 for the next four courses, bearing South 89 degrees 05 minutes 00 seconds East, a distance of 25.99 feet; thence bearing North 58 degrees, 43 minutes 26 seconds East, a distance of 31.80 feet; thence bearing South 63 degrees 16 minutes 24 seconds East, a distance of 145.10 feet; thence bearing South 57 degrees 22 minutes 24 seconds East, a distance of 28.50 feet; thence leaving said Southerly right-of-way line, bearing South 0 degrees 55 minutes 00 seconds West, a distance of 158.62 feet; thence bearing South 89 degrees 49 minutes 02 seconds West, a distance of 207.81 feet to said West Quarter Section line; thence bearing North 0 degrees 55 minutes 00 seconds East, a distance of 223.83 feet along said West Quarter Section line to the Point of Beginning. TRACT 2: Part of the Southeast Quarter, Section 28, Township 7 North, Range 4 East of the Fourth Principal Meridian, Fulton County, Illinois, being more particularly described as follows: Commencing at the Northwest corner of said Southeast Quarter marked by a drill hole; thence bearing South 0 degrees 55 minutes 00 seconds West, a distance of 670.14 feet along the West line of said Southeast Quarter to a point; thence bearing North 89 degrees 49 minutes 02 seconds East, a distance of 207.81 feet to the Actual Point of Beginning marked by an iron pin; thence bearing North 0 degrees 55 minutes 00 seconds East, a distance of 158.62 feet to the South right-of-way line of Illinois State Route 9 marked by an iron pin; thence bearing South 57 degrees 22 minutes 24 seconds East, a distance of 221.98 feet along said right-of-way line to a point marked by an iron pin; thence bearing South 87 degrees 13 minutes 24 seconds East, a distance of 92.40 feet along said right-of- way line to a point marked by an iron pin; thence bearing South 0 degrees 50 minutes 36 seconds West; a distance of 33.55 feet along said right-of-way line to a point marked by an iron pin; thence bearing South 89 degrees 49 minutes 02 seconds West, a distance of 281.29 feet to the Point of Beginning. PIN(s): 09-08-28-404-001; 09-08-28-404-002 Common Address: 920 W. Locust Street, Canton, IL 61520 WHEREAS, the corporate authorities, by this Resolution, have determined that the Surplus Real Estate is no longer necessary, appropriate, required for the use of, profitable to, or for the best interests of the City; WHEREAS, the Surplus Real Estate has been appraised by Chad A. Beekman, a Certified General Real Estate Appraiser, and his appraisal indicates a fair market value of Sixty -Five Thousand and No/100 Dollars ($65,000.00) (the "Appraised Value"); WHEREAS, the Surplus Real Estate is currently vacant, other than being utilized for parking and storage; WHEREAS, the corporate authorities have determined that it is in the best interests of the City to sell the Surplus Real Estate for further commercial or industrial development. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND THE CITY COUNCIL OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS AS FOLLOWS: 1. That the Recitals set forth above, and all facts and statements contained therein, are found to be true and correct and are hereby incorporated and adopted as part of this Resolution; 2. Any parties interested in submitting a proposal to purchase the Surplus Real Estate, on the terms and conditions set forth herein, must submit their proposal to the Mayor's Office, in writing, no later than June 30, 2023. Said proposal must include the substantive terms below, any additional proposed terms and conditions (including whether they are negotiable), and the purchaser's proposed use of the Surplus Real Property. 3. The City Clerk shall cause this Resolution to be published at the first opportunity following its passage in a newspaper published in the municipality, or if none, then in a newspaper published in Fulton County. 4. The substantive terms of the sale of the Surplus Real Estate shall be as follows: Purchase Price: No less than Fifty -Two Thousand and No/ 100. Dollars ($52,000.00), being 80% of the Appraised Value Size of Real Estate: Approximately 1.26 acres Zoning: The Surplus Real Estate is currently zoned B-2 (General Business). The proposal may include requirements for re -zoning to another business or industrial zoning classification. Use: The Surplus Real Estate shall be used solely for commercial or industrial purposes. Closing Date: On or before August 31, 2022 Restrictions/Covenants: Upon closing, the Surplus Real Estate may be encumbered by restrictions and/or covenants satisfactory to the City to ensure development of the Surplus Property. 5. The Purchase price shall not be any less than 80% of the appraised value. 6. The sale of the Surplus Real Estate shall be conducted by the Mayor, being staff of the City of Canton. 7. Additional terms and conditions may be negotiated by and between the City and the proposed purchaser prior to approval of the final purchase contract. 8. The City Clerk shall cause the appraisal to be available for public inspection at the Office of the City Clerk, 2 N. Main Street, Canton, IL 61520, during normal business hours through June 30, 2023. 9. The City hereby reserves the right to accept and/or reject any contract proposal determined to be in the best interest of the City of Canton. 10. The final purchase contract accepted by the City shall be subject to a vote of two-thirds (2/3) of the corporate authorities then holding office. 11. This Resolution shall be in full force and effective immediately upon its passage by the City Council of the City of Canton and approval by the Mayor thereof. PASSED AND APPROVED THIS 12th day of June, 2023. AYES: Mayor Kent McDowell, Alderpersons Chamberlin, Grimm, Lovell, Hale, Gossett, Lingenfelter NAYES: None ABSENT: Alderpersons Nelson, Ketcham APPROVED: �vVl Kent MclYowell, Mayor ATTE An ea J. Walte -Smith, City Clerk 3 4q Date of Invoice: May 18, 2023 To: City of Canton Attn: Mayor Kent McDowell 2 North Main Street, Canton, IL 61520 (309) 647-0065 kmcdowell@cantoncityhall.org From: Beekman & Associates P.O. Box 46, Lewistown, IL 61542 Tel. (309) 547-2525 Assignment:. Commercial Development Land 920 W Locust Street, Canton, IL 61520 Owner: City of Canton Effective Date of Appraisal: April 5, 2023 Amount Due: $850 Payment Terms: Cash, Cashiers Check, Money Order, Personal Check; NET 30 Days It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additional service to you. . Sincerely, Chad A. Beekman Beekman & Associates BEEKMAN &----),_,yssoc&tes Appraisals • Auctions • Realty APPRAISAL OF _ City of Canton Commercial Development Land 920 W Locust Street, Canton, IL 61520 Date of Valuation April 5, 2023 For City of Canton Attn: Mayor Kent McDowell 2 North Main Street, Canton, IL 61520 By Chad A. Beekman Certified General Real Estate Appraiser 11 ' B E E ICNIAN ,Tssociates Appraisals • Auctions • Rcalty 171 West Locust Street • Lewistown, Illinois 61542 • (309) 547-2525 • chad0beekmanassoc.com May 18, 2023 City of Canton Attn: Mayor Kent McDowell 2 North Main Street, Canton, IL 61520 (309) 647-0065 kmcdowell@cantoncityhal I.org RE: Appraisal of Commercial Development Land 920 W Locust Street, Canton, IL 61520 Dear Mayor McDowell, Pursuant to your request to estimate Fair Market Value of the fee simple interest of the above described property, I submit the following report for your consideration. This report describes in summary form the subject property characteristics and contains the analysis of data gathered in my investigation and used in arriving at my estimate of value. I hereby certify that I have personally inspected the site and that I have no interest, present or prospective therein, and that all the data gathered in my investigation is from sources believed to be reliable. An effective date is identified in this report and is the actual date if my site inspection. To the best of my knowledge and belief, the statements contained in this appraisal and upon which opinions expressed herein are based are correct, subject to limiting condition herein set forth. Based upon the facts and opinions contained in the attached report and upon my inspection of the site, it is the opinion of the undersigned that the Fair Market Value of the property herein described, is as follows: Sixty Five Thousand Dollars $65,000 Respectfully submitted, Chad A Beekman State Certified General Real Estate Appraiser Certification No. 553.001699; Expiration Date: September 30, 2023 Commercial Development Land 920 W Locust Street, Canton, IL 61520 Attn: Mayor Kent McDowell 2 North Main Street, Canton, IL 61520 Estimate fair market for the owner, a municipality, for a potential sale April 5, 2023 Beekman & Associates PO Box 46, 171 W Lincoln Ave Lewistown, Illinois 61542 Chad A Beekman State Certified General Real Estate Appraiser License Number 553.001699 Table of Contents 5 Summary of Salient Facts and Conclusions 6 Purpose of Appraisal 7 Scope of the Appraisal 7 Ownership and Sale History 7 Contract Analysis 8 Legal Description 8 Immediate Environs 8 Description of Site 9 Zoning 9 Flood Zone 9 Site Data 9 Linkage Characteristics 9 Highest and Best Use 9-10 Assessment Data 10 Description of Land 10 Data Analysis and Approaches to Value 11 Sales Comparison Approach to Value 12-15 Income Approach to Value 16 Cost Approach to Value 17 Reconciliation of Value 18 Legal Description 19 Aerial Map 20 Assessment Map 21 Photograph Addenda 22-23 Zoning Map 24 Traffic Count Map 25 Flood Map 26 Supplemental Addenda 27 USPAP Addendum 28 Certificate of Appraisal 29-30 Statement of Limiting Conditions 31-32 Statement of Appraiser Qualifications 33 Appraiser License Image 34 5 Summary of Salient Facts and Conclusions Report Type: Commercial Land Appraisal Report Subject Address 920 W Locust Street, Canton, IL 61520 Legal Description See attached addendum Current Owner City of Canton • Land Utility Commercial Development Land Property Rights Fee Simple Census Tract 9533.00 County Fulton Assessor's Parcel I.D. 09-08-28-404-001; 09-08-28-404-002 Current Taxes $0.00 Map Reference 37900 FMEA Zone Zone C FMEA Map No. & Date 17057CO220E; Date: 02/04/2011 Intended Use Estimate fair market for the owner, a municipality, for a potential sale Sale Price None Price/ Acre N/A Date of Contract N/A Borrower None Client City of Canton Client Address 2 North Main Street, Canton, IL 61520 Land Size (Acres) 1.26 Land Size (Sq Ft) 54,886 Land Dimensions —26x28x176x222x95x31 x488x225' Improvements None Contributing Public Utilities Electrical; Water; Sewer; Gas ' Zoning Classification B-2: General Business Shape Irregular Cost Approach to Value: N/A Income Approach to Value: N/A Sales Comparison Approach to Value: $65,000 Final Reconciliation of Value: $65,000 The purpose of this report is to express an opinion of Fair Market Value of the fee simple interest in the subject property commonly known as: 920 W Locust Street, Canton, IL 61520 The effective date of this appraisal is: Wednesday, April 5, 2023 Fair Market Value: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. Client Name: City of Canton Intended Use: Estimate fair market for the owner, a municipality, for a potential sale In preparing this appraisal, the appraiser: 1) Inspected the site from the ground and using an aerial drone device. 2) Researched public records to determine ownership and other pertinent information. 3) Identified and investigated appropriate cost, market, and income data. 4) Developed the sales comparison approach to value. Assignment Conditions: The property is being appraised in as -is condition as a vacant land. Prior Sale History: None in the past Three Years. Prior Listing History: None Published. Reference PAAR MLS and Online Search. Pending Purchase Agreement: None Known as of Effective Date. Legal Description: See attached addendum Street on the north side and South Avenue I on the west side. It is adjacent to an equipment rental retailer on the west side, the Illinois Department of Motor Vehicles on the northwest corner and residential properties on the north and west side and undeveloped residential excess land on the south side. All of Canton competes with the subject's neighborhood. Neighborhood boundaries are identified as the city limits of Canton. Canton is the largest city in Fulton County, Illinois. The population was 15,588 as of the 2000 Census. Area employment is sought in the government correctional sector, health care, junior college education sector and general public services. Peoria and Galesburg are also within commuting distance and support a wider range of employment. The commercial market classification has remained stable in Canton over the past three years. Supply and demand conditions are balanced within the city limits of Canton. Recent construction of three franchise businesses have been constructed ion the past three years. They are Jimmy Johns, Dunkin Donuts with Baskin Robbins and O'Reilly Auto Parts. Very little construction has been completed in the commercial market segment prior to these three properties within the past three years. The subject property is small; however, it is suitable for a small building and parking. COVID-19: As of the date of this appraisal, pandemic protocols have been reduced in, local areas. A work at home trend has developed since the pandemic. This trend has increased demand of rural properties, especially for properties with acreage, water front and water view characteristics. Many technological advancements supporting remote work environments have been developed and are in full operation. They include, but are not limited to, cloud based software for file sharing and mobile video platforms for live conferences. Based on these advancements, a remote work environment has been accepted by many employment sectors, increasing the demand in smaller markets with less criteria for location and proximity to urban areas. This trend is a current observation that has resulted from the pandemic and is subject to change in time. Site Dimensions:--26x28x176x222x95x31x488x225' Site Shape: Irregular Total Size (Acres): 1.26 View: Commercial and Residential This appraiser is not qualified to certify the environmental status of the site. An investigation by qualified contractors in this technology would be recommended if the client has any reason to suspect any issues. This is not meant to suggest that the appraiser has identified any issues of concern. DESCRIPTIONOF R• Build-up Vacant Single Family Multi Family Commercial 80% 20% 73% 2.0% 5.0% Exposure Time Marketing Time Development Trend Population Trend Employment Trend 180 Days 180 Days Slow and Stable Stable Stable The subiect orooertv is located alona the west entrance to the Citv of Canton. It is fronted by South Locust Street on the north side and South Avenue I on the west side. It is adjacent to an equipment rental retailer on the west side, the Illinois Department of Motor Vehicles on the northwest corner and residential properties on the north and west side and undeveloped residential excess land on the south side. All of Canton competes with the subject's neighborhood. Neighborhood boundaries are identified as the city limits of Canton. Canton is the largest city in Fulton County, Illinois. The population was 15,588 as of the 2000 Census. Area employment is sought in the government correctional sector, health care, junior college education sector and general public services. Peoria and Galesburg are also within commuting distance and support a wider range of employment. The commercial market classification has remained stable in Canton over the past three years. Supply and demand conditions are balanced within the city limits of Canton. Recent construction of three franchise businesses have been constructed ion the past three years. They are Jimmy Johns, Dunkin Donuts with Baskin Robbins and O'Reilly Auto Parts. Very little construction has been completed in the commercial market segment prior to these three properties within the past three years. The subject property is small; however, it is suitable for a small building and parking. COVID-19: As of the date of this appraisal, pandemic protocols have been reduced in, local areas. A work at home trend has developed since the pandemic. This trend has increased demand of rural properties, especially for properties with acreage, water front and water view characteristics. Many technological advancements supporting remote work environments have been developed and are in full operation. They include, but are not limited to, cloud based software for file sharing and mobile video platforms for live conferences. Based on these advancements, a remote work environment has been accepted by many employment sectors, increasing the demand in smaller markets with less criteria for location and proximity to urban areas. This trend is a current observation that has resulted from the pandemic and is subject to change in time. Site Dimensions:--26x28x176x222x95x31x488x225' Site Shape: Irregular Total Size (Acres): 1.26 View: Commercial and Residential This appraiser is not qualified to certify the environmental status of the site. An investigation by qualified contractors in this technology would be recommended if the client has any reason to suspect any issues. This is not meant to suggest that the appraiser has identified any issues of concern. Zoning Classification: B-2: General Business The subject property is zoned as commercial general business. The zoning of the subject property is an influence of value and prospective use of the land. The designated zoning classification was generated by a visual examination of the attached zoning map (attached). Flood Zone Classification: Zone C Flood Panel Map Number and Date of Map: 17057CO220E; Date: 02/04/2011 The designated Federal Emergency Management Agency (FEMA) number is indicative of an area not within a one hundred year flood hazard zone. The designated zone classification was generated by an online visual map surveillance. Interested parties should consult with a third party flood determination service to verify the flood zone classification. Water Gas Sewer Electricity Access S Locust St City of Canton Ameren City of Canton Ameren LINKAGE CHATERISTICS and S Ave I CBD Interstate Railroad Tracts Visibility Volume —1.2 miles east 1-74 -- 20 mi North —1 mile southeast Good/ Locust St Good HIGHEST AND BEST USE Legally Permissive Physically Possible Financially Feasible Maximally Productive Retail Business General Business Less than —5000 sf Economic Limitations Improvement Highest and Best Use as Vacant Highest and Best Use as Improved Commercial Building Site Retail/Service Business Improvement Highest and Best Use can be defined as "that use which at the time of the appraisal is most likely to produce the greatest net return to the land and/or the improvements over a given period of time." Only those uses which are natural, probable and legal may be considered as reasonable tenable. However, elements affecting value which depend upon events or a combination of occurrences which, while within the realm of possibilities not fairly shown to be reasonable and probable, should be excluded from consideration. It is the opinion of the appraiser that the Highest and Best Use of the subject property is general business serving as a retail and/or service establishment. This opinion is based on the four criteria of Highest and Best Use of the land as vacant and ready for development and as improved. Those criteria are uses which are physically possible, legally permissible, financially feasible, and maximal productive. W1: 1) Legally Permissive: Only those uses that are, or may be, legally allowed are potential highest and best uses. This may exclude uses that are not, and unlikely to become, allowed by zoning, uses forbidden by government regulations, and uses prohibited by deed restrictions or covenants. 2) Physically Possible Use: Any potential use must be physically possible given the size, shape, topography, and other characteristics of the site. 3) Financially Feasible: the proposed use of a property must generate adequate revenue to justify the costs of construction plus a profit for the developer. 4) Maximally Productive Use: The use must generate the highest net return (profit) to the developer. Parcel Number Land Assessment Building Assessment Total Assessment Tax Amount 09-08-28-404-001 $0 $0 $0 $0.00 09-08-28-404-002 $0 $0 $0 $0.00 Totals $0 $0 $0 $0.00 The subject site is. exempt from taxation, an Illinois Municipal Corporation. DESCRIPTION OF THE LAND AND IMPROVEMENTS Commercial Land: Total Area: 1.26 Acres 54,886 Sq. Ft. Number of Sites 1 -Commercial Site Frontage Feet W Locust St 470 feet 'N Avenue 1 270 feet Acres per Site 1.26 acres Improvements: None Traffic Count: 4200 Vehicles Per Day The scope of assignment is for the current as -is condition of the subject land. The frontage along West Locust Street has commercial development appeal. The daily traffic count is obtained from the Illinois Department of Transportation. The traffic count at the entrance is 3900 per day and the count along Ave I is 300. The indicated traffic count is 4200 per day. The site is located on the outskirts of the City with undeveloped land use on the south and west side. The site previously supported the Siesta Inn, a small motel. Remnants of the prior improvements are observed and are in need of clean-up. No adverse conditions are observed with the subject site or neighborhood. The site area is calculated using the tax records. A GIS measurement indicated 1.45 acres. Survey to govern. Extraordinary assumptions are employed for environmental conditions being free and clear of any marketable concerns. 10 There are three accepted approaches to valuing real estate. These are the Cost Approach, the Income Approach and the Sales Comparison Approach. In general, appraisals of properties that are typically purchased by investors have greater weight to the income approach, while small retail or office properties, often purchased by owner -users, have greater weighting to the sales comparison approach. The Sales Comparison Approach The sales comparison approach is based primarily on the principle of substitution. This approach assumes a prudent individual will pay no more for a property than it would cost to purchase a comparable substitute property. The approach recognizes that a typical buyer will compare asking prices and seek to purchase the property that meets their wants and needs for the lowest cost. In developing the sales comparison approach an interpretation is determined of the actions of parties involved in the marketplace, including buyers, sellers, and investors. The Income Approach The income approach is most applicable to value commercial and investment properties. Because it is intended to directly reflect or model the expectations and behaviors of typical market participants, this approach is generally considered the most applicable valuation technique for income-producing properties, where sufficient market data exists to supply the necessary inputs and parameters for a reconstructed income strea m. The Cost Approach The overall methodology of the cost approach is a hybrid of the cost and sales comparison approaches. The replacement cost to construct the building(s) is determined by adding the labor, material, and other costs, land values and depreciation is derived from an analysis of comparable data to determine age life indicators. The cost approach is most reliable when used on newer structures, but the method is less reliable for older properties. The estimated reproduction cost new is based upon information obtained from national reporting services which include the Marshall -Swift Valuation guide. Past construction appraisals are also reviewed to reconcile local cost estimates that are specific to this region. Depreciation is estimated according to the effective age, remaining economic life and total economic life reconciliation of the subject property improvements, known as the age -life method. 11 Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City of Canton FEATURE I SUBJECTPROPERTY COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Address 920 W Locust St 339 N Main St 1300 S Main St 1475 N Henderson St Canton IL 61520 Canton IL 61520 Monmouth IL 61462 Galesbur-q. IL 61401 Proximity to Subject 1.18 miles E 38.85 miles NW 32.88 miles NW Sale Price S None 1 $ 160.000 $ 50,000 $ 55,000 Price/ S Per Acre $ 355,555. 6 $ 11 655.01 $ 50 000.00 DataSource(s) Appraisal/Files PAAR#CA1012223;DOM 183 PAAR#CA1014032;DOM 0 Verification Source(s) Fulton Co Doc#6310 Warren Co Assessor Knox Cc Assessor VALUE ADJUSTMENT DESCRIPTIONDESCRIPTION + - S Adiust DESCRIPTION + - S Adiust DESCRIPTION + - $ Adiust Sales or Financing N/A Arml-th ArmLth Arml-th Concessions ConvO ConvO Cash•O Date of Sale/rime N/A sO4/23•cO323 sO9/22•Unk 04/29/2022 Rights Appraised Fee Simple Fee Simple Fee Simple Fee Simple Location Comm/Res Comm/Res Comm/Res Comm/Res Site Area 1.45 0.45 +4.00014.29 -11,3601.1 +11,40 Traffic Count 4200/Da 11800/Da -98,800 1850/Da +30,550 3300/Da +11,70 Frontage Foot 240' 240' 400' -2,080 477.4 -3.08 Improvements None None Garage -3,000 None Net Adjustment (Total, in S) ❑ + ®- $ -94.800 + ❑ - $ 14.110 ® + ❑ - S 10011 Net 59.3 ,Adjusted Sale Price m $ Gross 64.3 Net 28.2 ° $ 65,200 Gross 94.0 ° Net 18.2 ° $ 64,1101 Gross 29A ° S 65 014 12 SALES COMPARISON APPROACHTO VALUE Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City of Canton 13 Comparable 1 339 NMain St Prox. to Subject 1.18 miles E Sales Price 160,000 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location Comm/Res View Site 0.45 Quality Age Comparable 2 1300 S Main St Prox. to Subject 38.85 mites NW Sales Price 50,000 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location Comm/Res View Site 4.29 Quality Age Comparable S 1475 N Henderson St Prox. to Subject 32.88 miles NW Sales Price 55,000 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location Comm/Res View Site 1.1 Quality Age SALES COMPARISON LOCATION MAP '�r�` -{ "• ! � ' ' Orion. .. .. I .. - - .. i ,. .. Reyriold., Preemption Sherra"rd Combege i 1 'Eliza • "w� Lynn,Center--.F .� Petersville, - T ' 1I Utah Mathervdlc. Millersburg - ` I • . + f Kewani3 Mannon �' - •r':; 1 s Wanlock oy Aledo; 1--�Vll la_ AI'ha 74 _ Bishop Hill -� + Paton `/ I'—Woodhull y }' Sunbeam , COMPARABLE1475 N l Henderson r Seaton _ r Rto 1 _ r —L -a- ayette Kei 6sburg North I ...�' NW Henderso Oneida F--�- - - Victoria • .• Milroy Hi nil• .on Wa[agaj -West L LiiillYork �I • ,4 _ • •fie Oak Run Elmore d tioldbrook 1 Galesburg, Dquawka-_RoiettaL.: / �! Knox F• - : df Dohinda LNtlhm asfild 'Laura l -Monro u`th.. Kit zyYille 74 JI r Cameron 3ladstone A Kukwood \.. Ain Ormonde, - Gilson - 7r� . 1 Iy + Bir f _archland Delong 1f ~ {t I Abingdon . - Y - 6 hshtre . Berwick'+ j Maquuon {per.:r- "COMPARABLE.I j�Eltmiiood r r S Main St 1 t i Hermon + Monmouth, 1L.61462 -Roseville38.85 miles NW Greenbush $t.9uguaL11e nRantan ./ + —Farming on -Ti 1( 1 iCanton, IL 61520') _ Haute - Swan Creek r von - .. jam. e I Fal vias Noms- Wall ms• + Walnut Grove 'Prauie ily i ( i BreJye:on - alHarpeanley-1 I+ ,. a' If r • landinsvtlle Sc!ota Good Hoe �- Blyton�Fiaitr �, ;Car ons _P_ -- 8u�linell . CheckrM . , a . -I +' �� •+�. ' i• 'f ` { Bardol h •� New - • Cuba . David { _j- duntain r�, -*. P Philadelp la i ! •' Green •tt'.'<". I Smithfield , Macomb" • J l Colchester `' r • Maples Mill' 1 � i Bem r ` Goofy Riilgi V 1.18 miles E r i p Fand•on ' To fa Grove olmar , `^Ipava�� • ym r �onir avana_ Pl . guth erm j�.. _`._".r"c._'•„t'"T�odrtsrrilc ' `t.0--'ZInlonn' Bi,mingl amM i % "-� • �, 15ummum.c- !' Leesburg Me as. Poplar City, y Au usla L•ittleLon each K9. __,Brooklyn - - Astoria *1 ` Wayland' i , .Ray ,..' .. Bath,' Bader Sheldons 'Qamden _ Grove:-' . �r gle t .. " Goo� '__ SALES COMPARISON APPROACHTO VALUE Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City of Canton Indicated Value of the Subject Property Land: $65,000 The Sales Comparison Approach is based upon the principle of substitution. If a property is replaceable in the market place, its value tends to be set at the cost of acquiring an equally ;desirable substitute property, assuming no costly delay in making the substitution. Since no properties are ever identical, the necessary adjustments for differences in quality, location, size, condition and market appeal are judged. The subject property consists of 1.26 acres of commercially zoned land located at the corner W Locust St and N Ave I. Comparable sales #1-3 are commercially zoned land tracts located most similarly to the subject property. Comparable sale #1 is most similar and in terms of Canton market; however, it is located at a busy intersection with higher traffic count. Comparable sales #2 and #3 are located in nearby cities. These sales bracket the subject size, and daily traffic count. Bracketing characteristics are used to support indicated adjustments for excess acreage, traffic count and frontage foot. These characteristics analyses the key marketable characteristics of the subject land. 15 Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial. Development Land Client: City of Canton Indicated Value of Income Approach to Value N/A The Income Approach analyzes a property's capacity to generate benefits and converts them into an indication of present value. The estimated Net Annual Income is capitalized at a rate commensurate with the relative certainty of its continuance and the risk involved in ownership of the property. I have determined that the Income Approach is not applicable to the assignment due to the lack of improvements and lack of an income stream. 16 COST '•ATO VALUE Subject Address: 920 W Locust Street, Canton, IL ,61520 Property Type: Commercial Development Land Client: City of Canton Indicated Value of Cost Approach to Value N/A The Cost Approach is applicable when improvements are new, near new, or are of an unusual construction method. This approach to value is appropriate when sufficient land or building sites are available to a potential purchaser to make construction of improvements similar to the subject, a viable alternative to purchasing the subject. In areas where vacant sites. similar to the subject property are not available to a potential purchaser, use of the Cost Approach and its reliability could be misleading. I have determined that the Cost Approach is not applicable to the assignment due to the lack of improvements. 17 RECONCILIATION OF Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City of Canton Sales Comparison Approach $65,000 100.0% $65,000 Income Approach N/A Cost Approach N/A There are three accepted approaches to valuing real estate. These are the Cost Approach, the Income Approach and the Sales Comparison Approach. Based on the subject property characteristics, the sales comparison approach is the only credible approach to estimate the current fair market value. 18 LEGAL DESCRIPTION Subject Address: 92OVVLocust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City ofCanton . 19 AERIAL MAP .dam � • � a' O Road Garage r r OI Locust St, OWN LocusLill t,$t• 3— I • Gq> r3 � - i. • d Q � Z 1 � _ 7 { z` V a a I .Google .,.,. ASSESSMENT MAP Q9-oA-za-aoQ-0it` o9 -0a- j +Ff� `• �I��z6a�ia 1 �`�`�-0os t r] .. p,v'+....p�� e a $�. �,m*4 .'a 09-08-28dD2-015 , •Q9-Q9,28dQ2-0 i „�� i o9-oaFzsa9z-0to k ?. ` $•',; . b- `y£ v 1 Q408-2AdQ2-0fA _ Q9-�6A-zsaoz-0zo wt � ;9-wzae�,n�`pr -S a9r za-a6a c9z �.' t ocuQi 09-06-28:10t-OA2. � S - ' J � ------------ -------------------- J7 -- - S^7 J SUBJECT PROPERTY • • Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City of Canton N Ave 1 Site View Site View Site View W Locust St & N Ave 1 Western Exposure 22 W Locust St/ Neighborhood Eastern Exposure SUBJECT PROPERTY • • Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City of Canton W Locust St/ Neighborhood Western Exposure N Ave 1/ Neighborhood Southern Exposure N Ave 1 & W Locust St/ Site View Northern Exposure W Locust St/Site View Northeastern Exposure, 23 W Locust St/ Site View Northeastern Exposure Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City of Canton ZONING LEGEND --9 AGA AGRICULTURE EJ CO CONSERVATION ® R-1 SINGLE FAMILY R-2 SINGLE FAMILY WON R-3 TWO FAMILY ® R-4 MULTIPLE FAMILY ® B-1 LOCAL SHOPPING B-2 GENERAL BUSINESS B-3 C.B.D. ® 1-1 LIGHT INDUSTRIAL I-2 HEAVY INDUSTRIAL PUD PLANNED URBAN DEVELOPMENT - - - CITY CORPORATION LIMITS 24 Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City of Canton F- 113 25 SUBJECT PROPERTY FLOOD MAP .0-13 r AW 2 m 4 da4 .1a Road Garage.fr 3 eraiioh-P'H�-Sc 01 Canton Illinoig Se efa Facility Old,, I 4- �4 C6 < > bjsjslat,,F� ,,F� 4 Calvary Baptist Church 41 5 E W-wa nutTSt L. 4 V" 0, fkkleib rj* --1300 yards Google),, T-Aap data C—M-3 Imagery 02023 Maxe, Technobges. USDA'FPAG,'GE0 SUPPLEMENTAL ADDENDUM Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City of Canton Assumptions and Extraordinary Assumptions: Defined by USPAP as "an assumption, directly related to a specific assignment, as of the effective date of the assignment results, which, if found to be false, could alter the appraiser's opinions or conclusions." The standard scope of appraisal practice does .not require me to investigate the legality of the construction of the original subject structures. I did not investigate the legality of the proposed construction of the improvements and I presume that the structure to be built has any and all required building permits. Concerned properties should contact the owner/builder regarding this matter. I did not investigate the subject, nor the comparable sales, to form an opinion regarding 1) a death may have occurred at the properties or 2) if any prior criminal acts have been committed at the properties. I have no knowledge of any such occurrences or acts, nor was I informed by any third party regarding such occurrences or acts. An extraordinary assumption is utilized with regard to any deaths and/or criminal acts that may have occurred. This type of investigation is beyond the standard scope of appraisal practice. I did not conduct an investigation into "Megan's Law" (which was passed by Congress in 1996, said law governs sex offender registration and community notification) as it relates to the subject, the immediate market area of the subject.and the comparable sales. This type of investigation is beyond the standard scope of appraisal practice and normal appraisal business practices. I did not notice any posting of code violations at the subject property, nor was I informed by any third party of any such violations. I did not conduct an investigation to determine if a notice of action relative to a code violation has been recorded against the subject property by the local code enforcement agency relative to violations of Health and Safety Codes and/or applicable sections of the Code of Civil Procedure. This type of investigation is beyond the scope of appraisal practice. I am not an environmental inspector. An extraordinary assumption is utilized regarding the subject being safe, habitable, and having are no environmental issues. Any concerns regarding environmental issues should contact a professional in that field. I am not a surveyor. I have utilized computer models for flood zone determination. Any concerns with flood zone delineation should be discussed with a professional surveyor as the information obtained by me for the purpose of this appraisal may not be correct. This appraiser makes no guarantees that the subject is either in or out of the flood zone. structural, mechanical, infestation, contamination or other issues about the subject property are urged to consult an expert in the appropriate field. 27 Subject Address: 920 W Locust Street, Canton, IL 61520 Property Type: Commercial Development Land Client: City of Canton APPRAISAL AND REPORT IDENTIFICATION This Report is om of the following types: ® Appraisal Report (A written report prepared under Standards Rule 2-2(a) , pursuant to the Scope of Work, as disclosed elsewhere in this report.) ❑ Restricted (A written report prepared under Standards Rule 2-2(b) , pursuant to the Scope of Work, as disclosed elsewhere in this report, Appraisal Report restricted to the stated intended use by the specified client or intended user.) Comments on Standards Rule 2-3 I certify that, to the best of my knowledge and bar&.. —The statements of fact contained in this report are true and ccrrecL —The reported analyses, opinions, and conclusions are limited only by the reported assumptions and rrmiil ng conditions and are my personal, impartial, and unbiased professional `analyses, opinions, and conclusions. — Unless otherwise indicated, I have no present or pmspectiva interest in the property that is the subject of this report and no personal interest with respect to the parties involved. —Unless otherwise indicated, I have performed no services, as an appraiser or in any other capacity, regarding the pmperlythat is the subject of this report within the twee -year period immediately preceding acceptance at this assignment — I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment —My.engagement in this assignment was not contingent upon developing or reporting predetermined results. —My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. —My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. — Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.— Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (d there are exceptions, the name of each individual providing significant real pmperty appraisal assistance is stated elsewhere in this report). Reasonable Exposure Time (USPAP defines Exposure Time as the estimated length of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.) My Opinion of Reasonable Exposure Time for the subject property at the market value stated in this report is: 180 Days Comments on Appraisal and Report Identification Note any USPAP-related issues requiring disclosure and any state mandated requirements: Section 1455.250 of Title 68 of the Illinois Administrative Code Requirements- AMC e uirements-AMC Client: None The Client is: City of Canton The Intended User is: CitV of Canton The compensation for this appraisal asst nment Is $850.00. The comments by the licensed real estate a raiser contained within this appraisal report on the condition of the propertV do not address 'standards of practieW as defined in the Homeand Inspector License Act 225 ILCS 4411 and 68111. Adm. Code 1410 and are not to be considered a land inspection or land inspection report. APPRAISER: Signature: Name: Chad A. Beekman State Certified General Real Estate Appraiser State Certification #: 553.001699 or State License #: State: IL Expkation Date of Certification or License: 09/30/2023 Data of signature and Repot 05/18/2023 Effective Date of Appraisal: 04/0512023 _ Inspection of Subject ❑ None Interior and Exterior 0 Exterior -only Date of Inspection (t applicable): 04/05/2023 28 SUPERVISORY or CO -APPRAISER (if applicable): Signature: Name: State Certification#: or State License #: State: Expiration Date of Certification or License: Date of Signature: InspecfionofSubject: ❑ None ❑ Interior and Exterior ❑ Exterior -Only. Date of Inspection (d applicable): APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in the comparable is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. 1 have take into consideration that factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and correct. 3. 1 stated in the appraisal report only my own personal, unbiased, and professional analyses, opinions and conclusions, which are subject only to the contingent and limiting conditions specified in this form. 4. 1 have no present or prospective interest in the property that is the subject of this report, and I .have no present or prospective interest or bias with respect to the participates in the transaction. I did not base, either partially or completely, my analyses and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or the present owners or occupants of the properties in the vicinity of the subject property. 5. 1 have no present or contemplated future interest in the subject property, and either my current or future employment or my compensation for performing this appraisal in contingent of the appraised value of the property. 6. 1 was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate the attainment of specific result, or the occurrence of subsequent event in order to receive my compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7. 1 performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were in place as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report 29 CERTIFICATE OF APPRAISER'S CERTIFICATION: Continued 8. 1 have personally inspected the interior and exterior areas of the subject property. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions on the marketability of the subject property. 9. 1 personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional assistance from any individual in the performance of the appraiser the preparation of the appraisal report, I have named such individuals and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it. 10. Unless otherwise indicated, I have performed no services regarding the subject property within the prior three years, as an appraiser or in any other capacity. Signature: Name: Chad A. Beekman Date Report Signed: May 18, 2023 Effective Date of Report April 5, 2023 Illinois Certified General Real Estate Appraisal License: 553.001699 Expiration Date: September 30, 2023 30 Underlying Assumptions 1) Title to the subject property is good and merchantable, held with fee simple interest by the named owners and that no encumbrances exist. Unless otherwise stated in this report. 2) The subject property is free and clear of all liens, but subject to any easements, agreements, assessments or other land right obligations. 3) That certain opinions or estimates furnished by other individuals and/ or other sources and used in making the appraisals are correct. 4) The property is appraised with assumptions of responsible ownership and competent management. 5) The appraiser relied obtained information, estimates, and opinions that are expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. This information is believed to be accurate but is not warranted by the appraiser. Contingent Conditions 1) that no liability is assumed on account of inaccuracies or errors in estimates or opinions identified in this report as being furnished by others. 2) That no liability is assumed on account of matters of a legal character affecting the property, such as title defect, encroachments, liens, overlapping boundaries, non-visible environmental concerns, assessments and that no survey of the property has been made by your appraiser. 3) That neither all nor any part of the content of this report shall be conveyed to the public through advertising, public relations, news, sales, or other media, without the written consent approval of the author particularly as to valuation conclusions and identity of the appraiser or firms with which he is connected. 4) The distribution of the total valuation between land and building applies only under the existing program of utilization. The separate valuations for land and buildings must not be used in conjunction with any other appraisal and are invalid if so used. 5) The appraiser shall not be required to give testimony or appear in court by reason of this appraisal with reference of the property herein described unless prior arrangements have been made. 6) It is understood that there are no soil contamination hidden or unapparent conditions of the property. 7) If a visible problem is evident and can be seen with the naked eye, it will be reported in the appraisal. If the client or lender has any questions or concerns, it is his/her responsibility to order the appropriate inspections by a licensed expert/specialist. 8) The appraiser assumes that there are no hidden or unapparent conditions, or for engineering which might be required to discover such factors. 9) This report is prepared for the client and the intended user(s) for their use as disclosed to the appraiser. This report is for their use alone. Use of the report by anyone 31 The Intended User of this report is the Client. The Intended Use is to evaluate the property that is the subject of this appraisal for asset determination purposes, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal report form, Definition of Market Value. No additional Intended Users are identified by the appraiser. Privacy Statement Beekman & Associates is required by law to inform their clients of their policies regarding privacy of client information. Licensed/Certified Appraisers have been and continue to be bound by the Uniform Standards of Professional Appraisal Practice (USPAP) and Ethics Rules which consist of conduct, management, confidentially, and record keeping sections. These rules and standards are more stringent than those required by law. Therefore, Beekman & Associates has always been diligent about protecting information deemed to be private or confidential in nature. Types of Non-public Personal Information Collected: Personal information about you the client and the subject property are collected during the course of developing the appraisal process. This is generally accomplished with your prior knowledge and approval. Non-public information is provided to our company by you or obtained by us with your authorization. The purpose of the appraisal process is to develop an estimated market value for a specific client. Parties to Whom We Disclose Information: For current and former clients, this company does not disclose any non-public personal information obtained during the course of the appraisal process except as required by law or at the direction of the client to assist in the completion of the particular financial transaction. Such non-public information may be disclosed to the client and any identified intended users of the appraisal, review, or consultant reporting process. A fiduciary agreement is automatically in effect between our company and the identified client and the intended users per Ethics Rules of the USPAP. In all situations, it is specifically stated that all confidential information, analyses, conclusions, survey results, adjustments, and opinions be safeguarded by the appraiser. Record Keeping Requirements: Our company retains records relating to the professional services that we provide to comply with the requirements of the Ethics Rules contained within the USPAP. In order to secure your non-public personal information, our company maintains physical, electronic, and procedural safeguards that comply with our professional standards. Inspection: The appraisal report herein represents an opinion of value and the appraiser is not an expert in structural, mechanical, electrical or environmental issues concerning the property which is the subject of this report. I have made a visual casual inspection, not to be confused with a physical technical inspection, of the property that is the subject of this report. The lender/client and/or borrower should consult experts in the respective fields to receive professional inspections concerning any topic such as environmental conditions, mold, mildew, radon, infestations, roof condition, structural condition, plumbing condition, heating and cooling condition, electrical condition, building code compliance and any other physical or environmental issue relevant to the safe and reliable occupancy of the property. The appraiser makes no warranties as to the physical condition of the house, its components, or the land. 32 APPRAISER QUALIFICATIONS Beekman & Associates: First Established June 2001 as Beekman Auction & Appraisal Company Chad A Beekman Sole Proprietor: Professional Appraisal Auctioneering and Realty Brokerage. Licensure: Illinois Certified General Real Estate Appraiser since May, 2006 First Licensed as a Illinois Real Estate Appraiser in February 2002 Licensed Illinois Real Estate Broker in April 2003 Licensed Illinois Auctioneer in June 2001 Appraisal Reporting Experience: • Residential Single Family Properties • Two Family Residential Properties and Multi Family Residential Properties • Agriculture Farm and Recreational Land Properties • Commercial Real Estate Properties: Approved Roster Appraiser: • United States Department of Housing and Urban Development (HUD) • United State Department of Veteran Affairs • Numerous Community State and National Banks Real Estate Education: Illinois Central College, 1 College Drive, East Peoria, IL 61635 • Principles of Real Estate • Advanced Real Estate Principles • Real Estate Brokerage Administration • Real Estate Law • Real Estate Finance • Residential Appraising • Residential Appraising Principles • Uniform Standards of Professional Appraisal Practice • Real Property Management McKissock Real Estate and Appraisal School, 218 Liberty St, Warren, PA • National USPAP Update, Appraising FHA Today, Appraising for the Secondary Market, Real Estate Construction Details and Trends, Appraiser Liability, Land Valuation, Private Appraisal Assignments, The Nuts and Bolts of Green Building. Illinois Coalition of Appraisal Professionals • Member since 2003, Illinois Appraisal Law and Administrative Code Update, 2010 Illinois . Appraisers Update Seminar The Appraisal Institute 550 W. Van Buren Street, Suite 1000, Chicago, IL 60607 • Commercial Report Writing National Association of Independence Fee Appraisers, 401 N. Michigan Ave., Chicago, IL 60611 • Financial Analysis of Income Properties Lee and Grant Company, 4333 Dunwoody Park, Suite 1412 Atlanta, GA 30338 • Valuation Applications I and II • General Income Approach International Association of Assessment Officers, 314 West 10th. St, Kansas City, MO 64105 • Income Approach to Valuation Errors and Omissions Insurance : General Star and Navigators Insurance Policy since 2002 General Liability Insurance: Grinnell Mutual Commercial Policv Since 2003 33 �itate of Xlt tno"� Department. of. Financial and'Profess onal Regulation Division of Real Estate LICENSE NO: 'Tb oa+�s...> .m,.�n.:..�.ew..n o.�w.c ma�.n..ca.puw.w m. �.r.e.s EXPikJCS_ 'd me mt.d. 553.001699 09130%2023 CERTIFIED GENERAL REAL ESTATE APPRAISER CHAD A BEEKMAN 171 W LINCOLN AVE 'LEWISTOWN, IL 61542 MARIO TREr.O, JR LAURIE. MURPHY -ACTING SECRETARY ACTINGDIREGTOR 34