3000 Woodcreek Dr. Downers Grove, IL (Du Page County)
Suburban Commercial Condo
- Reduced taxes by over 26% in spite of numerous unit sales
- Reduced taxes by approximately $1.13 per square foot
George Relias was retained to evaluate and appeal the office building known as the Woodcreek Office Condo in Downers Grove, IL. George instituted an appeal program that argued for values significantly lower than the values indicted by the unit sales. He examined the market, vacancy and operating potential if the property were operated and a conventional office building. His arguments successfully distinguished the condo sales from the true value of the property resulting in a 26% reduction in the overall building assessment and reduced the real estate taxes by over $1.13 per square foot, collectively.