Illinois Appellate Court
Civil Court
Property Tax Valuation
After bench trial, court entered judgment for Plaintiff and found that fair cash value of commercial office space in question was $7.3 million. Plaintiff had disputed assessor's valuation of property at $10.4 million. Court's finding that valuations of Plaintiff's expert were more credible and persuasive than Defendant's expert was not against manifest weight of evidence. Defense expert's criticism of Plaintifrf's expert's discounted cash flow analysis was relevant to weight of testimony and analysis. Court was moved primarily by fact of arm's length sale of property during and just after end of relevant tax year, finding that fair market value of property was the amount of that sale.(BURKE and GORDON, concurring.)