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Home My WebLink About951562.tiffRESOLUTION RE: THE BOARD OF EQUALIZATION, 1995, WELD COUNTY, COLORADO PETITION OF: GREELEY NATIONAL BANK P O BOX 1098 GREELEY, CO 80632 DESCRIPTION OF PROPERTY: PIN: R 2810986 PARCEL: 096105315022 - GR 4832 L8 TO 26 BLK44 TOGETHER WITH VAC N -S ALLEY ADJ TO LOTS 12 THRU 23 & E -W VAC ALLEY ADJ TO LOTS 9 THRU 12 LOTS 17 & 18 & LOTS 23 THRU 26 %821 8TH ST% WHEREAS, the Board of County Commissioners of Weld County, Colorado, organized as the Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the assessment and valuation of real and personal property within Weld County, fixed and made by the County Assessor for the year 1995, and WHEREAS, said petition has been heard before the County Assessor and due Notice of Determination thereon has been given to the taxpayer(s), and WHEREAS, the taxpayer(s) presented a petition of appeal of the County Assessor's valuation for the year 1995, claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner being represented by Jeffrey Monroe, Tax Profile Services, Inc., and WHEREAS, the Board has made its findings on the evidence, testimony and remonstrances and is now fully informed. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, acting as the Board of Equalization, that the evidence presented at the hearing clearly supported the value placed upon the Petitioner's property by the Weld County Assessor. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated to the Weld County Assessor by law. The assessment and valuation of the Weld County Assessor shall be, and hereby is, affirmed as follows: 951562 AS0032 u� 20Jc:-a� p (6(9€ yd) RE: BOE - GREELEY NATIONAL BANK Page 2 ORIGINAL Land $ 216,500 Improvements OR Personal Property 5.683.500 TOTAL ACTUAL VALUE $ 5.900.000 BE IT FURTHER RESOLVED that a denial of a petition, in whole or in part, by the Board of Equalization may be appealed by selecting one of the following three options: 1. Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's (CBOE's) decision to the Board of Assessment Appeals (BAA). Such hearing is the final hearing at which testimony, exhibits, or any other evidence may be introduced. If the decision of the BAA is further appealed to the Court of Appeals only the record created at the BAA hearing shall be the basis for the Court's decision. No new evidence can be introduced at the Court of Appeals. (Section 39-8-108(10), CRS) Appeals to the BAA must be made on forms furnished by the BAA, and should be mailed or delivered within thirty (30) days of denial by the CBOE to: Board of Assessment Appeals 1313 Sherman Street, Room 523 Denver, CO 80203 Phone: 866-5880 OR 2. District Court: You have the right to appeal the CBOE's decision to the District Court of the county wherein your property is located. New testimony, exhibits or any other evidence may be introduced at the District Court hearing. For filing requirements, please contact your attorney or the Clerk of the District Court. Further appeal of the District Court's decision is made to the Court of Appeals for a review of the record. (Section 39-8-108(1), CRS) OR 3. Binding Arbitration: You have the right to submit your case to arbitration. If you choose this option the arbitrator's decision is final and your right to appeal your current valuation ends. (Section 39-8-108.5, CRS) 951562 AS0032 RE: BOE - GREELEY NATIONAL BANK Page 3 Selecting the Arbitrator: In order to pursue arbitration, you must notify the CBOE of your intent. You and the CBOE select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator, the District Court of the county in which the property is located will make the selection. Arbitration Hearing Procedure: Arbitration hearings are held within sixty days from the date the arbitrator is selected. Both you and the CBOE are entitled to participate. The hearings are informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records, documents and other evidence. He also has the power to administer oaths, and all questions of law and fact shall be determined by him. The arbitration hearing may be confidential and closed to the public, upon mutual agreement. The arbitrator's written decision must be delivered to both parties personally or by registered mail within ten (10) days of the hearing. Such decision is final and not subject to review. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the CBOE. In the case of residential real property, such fees and expenses cannot exceed $150.00 per case. The arbitrator's fees and expenses, not including counsel fees, are to be paid as provided in the decision. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 3rd day of August, A.D., 1995. BOARD OF COUNTY COMMISSIONERS ATTEST: Weld County Clerk to the Board BY. zrf Deputy Clerk toc,t APPROVED Ayfl my Att WAD COUNTY, COjcORADO N - Dale K. Hall, Chairman Fxrl JSFn Barba J. Kirkmeyer, ro-Tem George€. Baxter i onstance L. Harbert ARSTAINFn W. H. Webster 951562 AS0032 BOE DECISION SHEET PIN #: R 2810986 PARCEL #: 096105315022 GREELEY NATIONAL BANK P O BOX 1098 GREELEY, CO 80632 HEARING DATE: July 27, 1995 TIME: 11:30 A.M. HEARING ATTENDED? 0) NAME 3 AGENT NAME: TAX PROFILE SERVICES INC APPRAISER NAME DECISION: ti DECREASE IN VALUATION INCREASE IN VALUATION NO CHANGE IN VALUATION ASSESSMENT RATIO ACTUAL VALUATION ORIGINAL SET BY BOARD Land $ 71F,00 $ al(o,Soo Improvements OR Personal Property 5,F83,500 Total Actual Value $ 5,900,000 COMMENTS: MOTION BY (_ 44 TO a6 -t lob 3cI90 $ S rpoo,O©D SECONDED BY to Baxter- ) Hall -/ ) Failed to prove appropriate value Harbert -- N) No comparables given Kirkmeyer Other: Webster —_(X/#4 4; — RESOLUTION NO. 9515" WUDC. COLORADO July 10, 1995 GREELEY NATIONAL BANK P O BOX 1098 GREELEY, CO 80632 Dear Petitioner(s): CLERK TO THE BOARD PHONE (303) 356-4000 EXT.4218 FAX: (303) 352-0242 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 Parcel No.: 096105315022 PIN No.: R 2810986 The Weld County Board of Equalization has set a date of Thursday, July 27, 1995, at or about the hour of 11:30 A.M., to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Centennial Center, 915 10th Street, Greeley, Colorado, in the First Floor Hearing Room. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor will be present before the Board. The Board will make their decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 10, 1995, and mailed to you on or before August 16, 1995. Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented -evidence as indicated above, the Board will have no choice but to deny your appeal. At least two (2) working days prior to your hearing the Assessor will have available, at your request, thee -data supporting his valuation of your property. GREELEY NATIONAL BANK - R 2810986 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION Donald D. Warden, Clerk to the Board / oth! BY: r l -4 2I q :unto ok Kimberlee A. Schuett, Deputy cc: Warren Lasell, Assessor TAX PROFILE SERVICES INC COLORADO STEVEN 0 SCHLUCHTER 1401 BLAKE ST X201 DENVER NOTICE OF DENIAL ( )I •FILE OF COUNTY ASSESSOR 1400 NORTH 17thAVE. -GREELEY, COLORADO 80631 PHONE (970) 353-3845, EXT. 3656 GR 4832 LS TO 26 8LK44 TOGETHER WITH VAC N -S ALLEY ADJ TO LOTS 12 THRU 23 E. E -W VAC ALLEY ADJ TO LOTS 9 THRU 12 LOTS 17 Y 18 C LOTS 23 THRU 26 %821 8TH ST% 821 8 ST GREELEY OWNER GREELEY NATIONAL BANK TAX PROFILE SERVICES INC PARCEL 096105315022 PIN R 2d10986 CO 80202 05/24/1995 YEAR LOG 1995 02792 The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that your property should be included in the following category(ies): RESIDENTIAL PROPERTY IS VALUED BY CONSIDERING THE MARKET APPROACH. AGRICULTURAL LAND VALUE IS DETERMINED SOLELY BY THE EARNING OR PRODUCTIVE CAPACITY OF THE LAND, CAPITALIZED AT A RATE SET 3Y LAW, ALL OTHER PROPERTY, INCLUDING VACANT LAND, IS VALUED BY CONSIDERING THE COST, MARKET, AND INCOME APPROACHES• If your concern is the amount of your property tax, local taxing authorities (county, city, fire protection, and other special districts) hold budget hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts, and plan to attend these budget hearings. The Assessor has carefully studied all available information, giving particular attention to the specifics included on your -protest and has deter- mined the valuation(s) assigned to your property. The reasons for this determination of value are: YOUR PROPERTY HAS BEEN UNIFORMLY VALUED FOLLOWING COLORADO LAW AND INSTRUCTIONS PUBLISHED BY THE STATE DIVISION OF PROPERTY TAXATION. YOUR PROTEST OF VALUE HAS BEEN DENIED DUE TO COMPARISON OF OTHER SIMILAR PROPERTIES WHICH SOLD DURING THE 1993/1994 TIME PERIOD, THIS COMPARISON SHOWS YOUR ACTUAL PROPERTY VALUE TO BE CORRECT FOR THAT PERIOD• PROPERTY CLASSIFICATION LANT) I MPS PETITIONER'S ESTIMATE OF VALUE ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW 216,500 5,683 , 500 ACTUAL VALUE AFTER REVIEW 216,500 5,683,500 TOTALS $ $ 5,900,000$ 5,900,000 If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, 39-8-106(1)(a), C.R.S. Please seetheback of this form for detailed information on filing your appeal. By: WARREN L. LASELL WELD COUNTY ASSESSOR 15-DPT-A R Form PR -207-87/94 05/25/95 ADDITIONAL INFORMATION ON REVERSE SIDE DATE 47 YOU HAVE THE HIGHT TO API :AL THE ASSESSOR'S UEC;SiO ,: The County Board ot-Et ualrzaticin:will sit to hear apo.eaPs 1 etyirrr:ir`;,: Jul:f•1 arid s;e?1' August real property (land'and buildings) and pe:soual proi:re.rty(iturnisnings,unac;hthts.r.l,r.. r : „ 39-'3-104 ar d 39-8.107(2), C.R.S. , • - APPEAL PROCEDURES: ti yO'. ;hisOse to appeal : r tirf Asses:;(.)1'. your right to appeal, your appeal roust . ER:":! -ERTY, AND „ICILY 20 MR f i= E.FiSrONAi. r't`s t' i`r v . . WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970) 356-4000. Ext. 4225 NOTIFICATION OF HEARING: You will be notified of the time and ::iak;£, Jii COUNTY BOARD OF EQUALIZATION'S DETERMIN.tTiON The County Board of Equalization must rnakn a decision on your a neat and -n•:zii yc.: ':iusineSS days. The County Board irli3st conci .rd e their hearings by A.uyisf r .J • TAXPAYER RIGHTS FOR FURTHER APPEALS: .. , t iS }r:ii are not satisfied with the County Spa: d of L0lializ_?t;oi1i's cfecisic* file within ti; rty -?g ., .f the Co„inty Board of Equalization's Written decision with CONE:•c tree folfcwinr}: ' -; + ' Board or Assessment Appeals rRAtk): Contact the E3AA at 1313 bhe rc:..-s: Rck.;r :t.f De•i Ca!' - 8020::;. : .,... District Court: 9th Avenue and 9th Street. P.O. Box C Greeley, Colorado 80632 Telephone (970) 356-4000. Ext. 4520k- •Arbitration: • WELD COUN fY BOARD OF EQUALIZATION •'915 10th Street: P.O. Bak .758 ' Greeley, Colorado 80632 Telephone (970) ,,5(3-4000-Ext. 4225 J 1. ;t ,le!f>:- n 1c h`)'i H you do not receive a determination from the County Board of Equalization, you must file an appeal with the Board of Assessment Appeals by September 18. TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE: YOU HAVE. FILED A TIMELY APPEAL: THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF OF ,.?? ^tf3- PETITION TO THE :O1.3N i'Y BOARD OF EOUAUZA"f HON Y ,.i7 .i `. U ::-.kt!On �.i :):l C; i-•r. •'. .i.: W: S... sr, irrs;� space below, release E•x!3i,?i:. ;,`;'..;' .ri.4 if.,�iCy`f.•..- ,..., the i=:i`.Sz�.,..T:y . . 3 -1C -f06(4.5;• C.R. ti!, YOU MI)( -it=.";,._ •}•f.)t,;P. .)? : =_3i' 'IA :...._ .'s •r• rl .r....';.. A`'. .:”..11t T Attach additional r— ,a a P gr+IC r ;'5 3, " 1 0` to c. -C. vr� p it° ea is. . , . /fr.- COUNTY BOARD OF EQUALIZATION PETITION FOR REVIEW CLEF?. TO THE HONORABLE WELD COUNTY BOARD OF EQUALIZATION Petitioner, Bank One Corporation c/o Tax Profile Services Inc. (TPS Inc.) 1401 Blake Street Suite 201, Denver, CO 80202, requests review of the County Assessor's Notices of Determination for the Subject Property (described below) for tax year 1995. Copies of the Notices of Determination for the Subject Property are attached and incorporated herein by reference. DESCRIPTION OF SUBJECT PROPERTY Schedule Number : 096105315022 Location of Subject Property: 821 8th Street, Bank One Downtown The subject property is referenced in the Statement of Agency, a copy of which is attached hereto and incorporated herein by reference. REPRESENTATION Petitioner requests a hearing before the Board at which petitioner will be represented by the following registered agent, Tax Profile Services Inc., or legal counsel. (303) 628-0405. (Please contact petitioner if legal counsel is necessary at the Board of Equalization hearing). CERTIFICATE OF SERVICE I certify that I served a copy of this petition, with attachments on the County Assessor by United States mail on this 2nd day of June, 1995 ,5 TAX PROFILE SERVICES INC. Steven D. Schluchter 1401 Blake Street, Suite 201 Denver CO 80202 Telephone (303) 628-0405 STATEMENT OF AGENCY Property Owner, Banc One Colorado Corporation, hereby appoints Tax Profile Services, Inc. (hereinafter "TPS"), as Property Owner's representative in connection with the valuations for assessment of Property Owner's real and/or personal property which is contained in Addendum A attached hereto, for each year 1995 through 1996, for taxes payable the following year (hereinafter "Subject Property"). TPS shall have full authority to review all applicable records relating to the valuation for assessment of the Subject Property; to negotiate the valuation for assessment of the Subject Property with the County Assessor, with any representative of the Assessor's office, or with the County, at an amount which TPS deems appropriate in the circumstances; and to pursue any statutory remedies which Property Owner may possess before the County Assessor, County Board of Equalization, County Board of Commissioners, Board of Assessment Appeals, District Court, Appellate Courts, or in binding arbitration in the Property Owner's name and in Property Owner's behalf. This agreement shall remain in effect until revoked in writing by property owner. Banc One Cg4oradCorporation State of Colorado , City and County of Denver ) ss. The foregoing agreement was acknowledged before me this 5th day of December 1994 by Ted R. Sikora (if a natural person or persons, insert name(s); if by a person acting in a representative or official capacity or as attorney -in -fact, insert the name and identify the capacity in which it is executed; if by an officer of a corporation, insert the name of such officer and identify the office.) Witness my hand and official seal. &Ok1 s - ' CJ Notary Public My commission expires: February 28, 1997 Co ID) 0O0F HEARING DATE: July 27, 1995 TIME: 11:30 A.M. SUBJECT: GREELEY NATIONAL BANK (Tower) ADDRESS: 821 8TH STREET, GREELEY, CO PIN#: 2810986 SUBJECT PHOTOGRAPHS View of southwest elevation of Greeley National Bank building View of southwest elevation of two story office annex 2 COMPARABLE LAND SALES SALE NO. GRANTOR/ GRANTEE DATE OF SALE SALES PRICE CONTRIB SALES PRICE AREA IN SQ FEET PRICE/ SQ FEET ZONING SUBJECT 20,125 C-4 1 E KINDER CO/ HAGEMEISTER 03/07/94 85,000 95,994 28,500 3.37 C-4 2 DAVIS & DAVIS/ NORTH CENTRAL FOOD 05/02/88 250,000 300,000 57,000 5.26 C-4 3 DAVIS ETAL/ BIG D PROPERTY 05/26/87 65,000 95,826 19,000 5.04 C-4 4 GREELEY URBAN RENEWAL/ COLSON CONST 01/28/86 250,000 76,000 3.29 C-4 1. Special Assessment $10,993.88 2. Demolition and fill cost $50,000 3. Demolition cost $18,000 and Special Assessment $12,826 .1r\WPFILES\COMMERCE\PROTESTS\BNKS21-1. he I Location Map •I ': oaf I Pe . i 85 D S 1 } *` A . St < O B S m ' St y:.. > B SIG I B a' .. UZ [ A St m a 'we —. CD m — I1 I `' > E l s_a 1 m U > > « < nd St 5 85 I m>m »2nd St _� >co �� 3rd St= I co `■ ■Ia� 09 N m Om� 4 h 1 m $ m '• 45 a�47 t 4 6th EL— ■•th��1�.�r�� N 16� yC 7th S �C> 8th St 9th Gam__ m . 11 • • ..1 l h ■■.,`IY tt� S I < ■ < � in.-:-.. 1 h l Rh 11th ii' < ' �0 1 t• t. th St .• -m l2th■■."sl yypp 12th .- .. -j L 131 SI U 14 h t ` X14 4t St r h St RIII _ 15th c s v .. m m 19 mt6, PC m m ` _ m- f _ c St .. 16th 17t 20 e - • 4., 1 t St II m ■ 1 t St < 9 � 18 h ■.St 21 �> 3 "` Y, 1:th SI ..`C 18th 3 r.nfo d- PI 23 - glen-Fai m— In er_ 0 :77 ke:ide 9t .. S -< _ 2 th St , 22� .•... E 01 '.' . 'e 24 19 SIR. 20th °1•i. St • j25•• .�� 26 > 2 sI •t m > < 2 2 s 't 2n• •. !- '.I /Fs es 27 ., 22nd St o ' - a 0 -•' ,• • • 2 d d ., •3 d t 23rd St 3 3 Dr e'- 24� th 24th m I4..>` s ` .. > <0 55L! m 25 > h< m St E m h ��^i1 �• 2•th St m 2fith SI L k th,' 6Stth ' t R h D:> I 71 `t m S Or 7hE:.;r 0 2:ah St a 28th St 28th St R• -29th w \ S LL66�� -29'h > St"Rd r U r • 3r th m • 30t St / S1 Rd c m J St < d 30th r y St Rd 2 i m > d c. v < n, .> °St N N O< 4 1 Parcel Number . Property Owner . Address City, State, ZIP: Surveyed by Date of Survey . 0961-05-3-15-022 Greeley National Bank 821 8 St Greeley, Co 80631 D Schildmeier 6/26/95 Occupancy: 18% Bank, 82% Office Floor Area: 118,349 square feet Class: Reinforced Conc. Frame Cost rank: Average Cost as of: 6/94 Number of stories: 8.0 Average story height: 16.0 feet Effective age: 19 years Heating and Cooling: Hot & Chilled Water 100% Other features: Elevators serving 118,349 square feet Units Cost Total Basic structure cost 118,349 96.05 11,367,423 Extras: Bank equip 4 Flr mech 6,720 sf @$30 8 Flr mech 2,508 sf @$30 1 Flr gar 960 sf @$30 Subtotal Replacement Cost New 300,000 201,600 75,200 28,800 605,600 11,973,023 Less Depreciation: Physical and Functional Depreciated Cost <12.0%> <1,436,762> 10,536,260 Miscellaneous: Land Total 216,500 10,752,760 Rounded to nearest $100,000 Cost data by MARSHALL and SWIFT 10,800,000 COMPARABLE SALES IMPROVED PROPERTIES FOR GREELEY NATIONAL BANK SALE NO. LOCATION OFFICE SALES 9230 1050 WALNUT, BOULDER 1078 3535 W 12 ST, GREELEY 176 3545 W 12 ST, GREELEY 170 1770 25 AV, GREELEY 265 4687 W 18 ST, GREELEY 313 2021 CLUBHOUSE DR, GREELEY 11337 3100 ARAPAHOE, BOULDER BANK SALES 209 1000 10 ST, GREELEY 183 1800 GREELEY MALL, GREELEY 208 1041 W MAIN ST, WINDSOR 1011 822 14 ST, GREELEY 186 2300 16 ST, GREELEY 289 2901 23 AV, GREELEY 138 1701 23 AV, GREELEY DATE OF SALES SALE PRICE GROSS BLDG. AREA " SALES SALE PRICE PR.P.S.F. WITHOUT OF G.B.A. LAND 04/90 $5,800,000 111,722 $51.91 $39.38 01/92 818,0001 9,672 84.57 70.09 07/93 585,000 7,035 83.16 72.83 09/93 563,100 11,180 50.37 39.61 03/94 1,210,000 17,876 67.69 52.41 04/94 625,000 10,000 62.50 54.40 05/94 4,015,000 46,170 86.96 76.09 12/87 1,575,000 17,042 92.42 76.81 12/88 450,000 6,530 68.91 62.16 11/90 492,000 4,363 112.77 86.01 01/91 625,000 6,180 101.13 68.77 10/93 422,5002 7,977 52.96 05/94 262,787 3,388 77.56 42.03 12/94 2,800,000 18,988 147.46 127.00 ` Buyer purchased 45% interest for $368,100 2 Building on leased land J'.\WPPILES\COMMERCL\PROTESTS\BNK821-1 -MARKET VALUE ANALYSIS FOR GREELEY NATIONAL BANK BANK 23,525 (18%) X $65 = 1,529,125 OFFICE 105,012 (82%) X $45 = 4,725,540 LAND 54,125 J.\WPFILES\COMMERCL\PROTESTS\BNK821-1. X $ 4 = 216.500 TOTAL 6,471,165 RD 6,500,000 COMPARABLE SALE 1078 PIN: 2041686 PARCEL #: 95911116016 ADDRESS: SALE DATE: SALE PRICE: GRANTOR: GRANTEE: CONSTRUCTION-QUAL: PR/SF(IMPS): PR/SQ FT: LAND SIZE: LAND VALUE: LAND/BLDG RATIO: OCCUPANCY: 3535 W 12 ST 01/01/92. $368,100 FABRICIUS THOMAS BROWN MARK & R. O. KRON GOOD $70.09 $84.57 40,020 $140,070 4.14 OFFICE GREELEY BOOK #:/VOT RECoRDrI5 RECEPTION #: 0 ADJ SALE PRICE:$818,000 BLDG SIZE: YEAR BLT: CLASS: D WALL HEIGHT: STORIES: BSMT SIZE: 9,672 1985 8 1 961 REMARKS: GRANTEE PURCHASED 45% INTEREST FOR 368,100 TERMS: 89,100 DOWN, ASSUME 45% OF 620,000 PRINCIPAL BALANCE AT 11%. NOTE WAS WRAPPED 4 COMPARABLE SALE 176 PIN: 2041586 PARCEL #: 95911116015 OCCUPANCY: ADDRESS: 3545 W 12 ST PROJECT: 0 SALE DATE: 07/30/93 SALE PRICE: $585,000 ADJ SALE PRICE: GRANTOR: LAKE PLAZA PARTN GRANTEE: WEBER RICHARD D YEAR BLT: 1986 BLDG SIZE: 7,035 CLASS: D CONSTRUCTION-QUAL: GOOD WALL HEIGHT: 22 STORIES: 2 BSMT SIZE: 750 LAND SIZE: 20,762 LAND VALUE: 72,667 OFFICE GREELEY BOOK II: -RECEPTION II: ERSHIP & GERALDINE D LAND/BLDG RATIO: IMPS PRICE/PSF: SALE PRICE/PSF: CASH DOWN: LOAN: INTEREST RATE: LOAN TERM (YRS): POINTS PAID: REMARKS: BUYERS COMPANY "PRO REALTY" -WAS A TENANT BEFORE PURCHASE. Q 1395 2344669 2.95 $72.83 $83.16 $585,000 0 0.0% 0 0 COMPARABLE SALE 170 PIN: 2291586 PARCEL #: 95912400016 OCCUPANCY: ADDRESS: 1770 25 AV PROJECT: 0 SALE DATE: 09/10/93 SALE PRICE: $187,700 ADJ SALE PRICE: $563,100 GRANTOR: FLACK NORMAN E GRANTEE: SHIRAZI MASOUD S YEAR BLT: 1979 BLDG SIZE: 11,180 CLASS: D CONSTRUCTION-OUAL: AVG WALL HEIGHT: STORIES: BSMT SIZE: LAND SIZE: LAND VALUE: 3 0 30,056 120,224 OFFICE GREELEY BOOK #: RECEPTION #: LAND/BLDG RATIO: IMPS PRICE/PSF: SALE PRICE/PSF: CASH DOWN: LOAN: INTEREST RATE: LOAN TERM (YRS1: POINTS PAID: 1403 2351760 REMARKS: BUYER PURCHASED 1/3 INTEREST FOR 187,700 BUYER ALREADY OWNED THE OTHER 2/3 INTEREST. n 2.69 $39.61 $50.37 $0 0 0.0% 0 0 COMPARABLE SALE 265 PARCEL #: 95911327001 PIN: 2094086 ADDRESS: PROJECT: SALE DATE: SALE PRICE: ADJ SALE PRICE: GRANTOR: GRANTEE: YEAR BLT: BLDG SIZE: CLASS: CONSTRUCTION-QUAL: WALL HEIGHT: STORIES: BSMT SIZE: LAND SIZE: LAND VALUE: REMARKS: OCCUPANCY: 4687 W 18 STREET 0 03/31/94 $1,340,000 $1,210,000 BAKER HUGHES INC F&P LLC 1982 17,876 C GOOD 32 2 8938 91,026 273,078 OFFICE GREELEY BOOK #: RECEPTION #: LAND/BLDG RATIO: IMPS PRICE/PSF: SALE PRICE/PSF: CASH DOWN: LOAN: INTEREST RATE: LOAN TERM (YRS): POINTS PAID: 1435 2382085 5.09 $52.41 $67.69 $1,340,000 0 0.0% 0 0 NET LEASEABLE 26,227, TOP FLOOR 9,092, GROUND FLOOR 9,092, GARDEN LEVEL 8,043. ADJUSTED PURCHASE PRICE BY 130,000 FOR OFFICE EQUIPMENT AND FURNITURE. COMPARABLE SALE 313 PIN: 2532086 PARCEL #: 95915203001 ADDRESS: PROJECT: SALE DATE: SALE PRICE: ADJ SALE PRICE: GRANTOR: GRANTEE: YEAR BLT: BLDG SIZE: CLASS: CONSTRUCTION-QUAL: WALL HEIGHT: STORIES: BSMT SIZE: LAND SIZE: LAND VALUE: OCCUPANCY: 2021 CLUBHOUSE DR 0 04/04/94 $625,000 OFFICE GREELEY BOOK B: RECEPTION #: NELSON, HALEY, PATTERSON & QUIRK CLUBHOUSE DRIVE LLC 1962 10,000 D AVG 10 1 9600 54,000 81,000 LAND/BLDG RATIO: IMPS PRICE/PSF: SALE PRICE/PSF: CASH DOWN: LOAN: NEW INTEREST RATE: LOAN TERM (YRS): POINTS PAID: REMARKS: BASEMENT UNFINISHED STORAGE. WOL 2532186, 2532586. 17_ 1435 2382079 5.40 $54.40 $62.50 $156,250 7.8% 10 0 COMPARABLE SALE 209 PIN: 0011688 PARCEL 4: 96105333008 OCCUPANCY: ADDRESS: 1000 10 SP PROJECT: 0 SALE DA'L'E: 12/01/81 SALE PRICE: $1, 616,000 GRANTOR: UNITED BANK OF GREELEY GRANTEE: CITY OF GREELEY YEAR BUT: 1974 BLDG SIZE: 17,042 CLASS: C CONSTRUCTION-QUAL: GOOD WALL HEIGHT: 20 STORIES: ._ BSMT SIZE: 9503 LAND SIZE: 76000 LAND VALUE: 266000 BANK GREELEY BOOK N: RECEPTION 4: ADJ SALE PRICE:: LAND/BLDG RATIO: IMPS PRICE/PSN: SALE PRICE/PSI': CASH DOWN: LOAN: INTEREST RA'Z'E: LOAN 'PERM ( YRS ) : POINTS PAID: BY WHOM: 1179 2123804 4.46 ;16.81 02.42 $1,5/5,000 0 0.0' U 0 0 REMARKS: BLDG WAS BANK NOW CITY COMPLEX. SALE DID NOT INCLUDE DRIVE -UP BANK FACILITIES 17, COMPARABLE SALE 183 PIN: 3761286 PARCEL N: 96119200023 OCCUPANCY: BANK ADDRESS: GREELEY MALL 1800 GREELEY SALE DATE: 12/12/88 SALE PRICE: $450,000 GRANTOR: COLORADO NATIONAL PROPERTY GRANTEE: FIRST NATIONAL BANK CONSTRUCTION-QUAL: AVG PR/SF(IMPS): $62.16 PR/SQ FT: $68.91 LAND SIZE: 44,110 LAND VALUE: $44,110 LAND/BLDG RATIO: 6.75 REMARKS: IU BLDG SIZE: 6,530 YEAR BLT: 1973 CLASS: C WALL HEIGHT: 14 FT COMPARABLE SALE 208 8072011502`) PIN: .1448686, PARCEL #: Ui: C Lii. ANC: Y : BANK ADDRESS: .104.1 W MAIN ST WINDSOR PROJECT: 0 BOOK #: SALE L)A'L'E: 11/30/90 RECEPTION #: SALE PRICE: : $492,000 AL)J SALE PRICE: GRANTOR: BANK OF WINDSOR INVESTMENT GRANTEE: BANK OF WINDSOR YEAR BL3': 1.982 LAND/BLDG RATIO: BLDG SIZE: 4,363 IMPS PRICE/PSF : CLASS: D SALE PRICE/PSF: CONS'T'RUC'T'ION-QUAL: GOOD CASH DOWN: WALL HEIGHT: I4 LOAN: `'TORIES: l INTEREST RATE: BSMT SIZE: 0 LOAN TERM ( YRS) : LAND SIZE: `.)83:0 POINTS PAID: LAND VALUE: 110!40 KY WHOM: REMARKS: PREVIOUS SALE `5/85 $400,00O 15 I28.3 22345V) Ii. 38 $86.01. $112.77 $492,000 0 0.0: 0 0 U COMPARABLE SALE PARCEL #: 961082210010 PIN: 0134291 ADDRESS: SALE DATE: SALE PRICE: GRANTOR: GRANTEE: CONSTRUCTION-QUAL: PR/SF(IMPS): PR/SO FT: LAND SIZE: LAND VALUE: LAND/BLDG RATIO: REMARKS: OCCUPANCY: BANK 822 14 ST 01/02/91 $625,000 BANK OF GREELEY HOUSEL, JERRY ETAL 0 $68,.77 $101.13 70,785 $200,000 11.45 GREELEY BLDG SIZE: YEAR BLT: CLASS: C WALL HEIGHT: 6,180 INCLUDES 4 BAY DRIVE UP AND STORAGE BLDG 16X16= 256SF APPRAISER VALUE $1,000 NET RENT $12.82 PSF 15 YEAR LEASE Ih 1973 10 COMPARABLE SALE 186 PIN: 2290986 PARCEL #: 95912400008 OCCUPANCY: BANK ADDRESS: 2300 16Th ST GREELEY PROJECT: 0 SALE DATE: 10/29/93 SALE PRICE: $425,000 RECEPTION #: 2357566 ADJ SALE PRICE: $422,500 GRANTOR: BANK WESTERN GRANTEE: NORWEST BANK GREELEY YEAR BLT: 1977 LAND/BLDG RATIO: BLDG SIZE: 7,977 IMPS PRICE/PSF: CLASS: C SALE PRICE/PSF: CONSTRUCTION-QUAL: GOOD CASH DOWN: WALL HEIGHT: 10 LOAN: STORIES: 1 INTEREST RATE: BSMT SIZE: 638 LOAN TERM (YRS): LAND SIZE: 57,064 POINTS PAID: LAND VALUE: 0 BOOK #: 1409 7.15 $52.96 $52.96 $425,000 0 0.0% 0 0 REMARKS: PURCHASE PRICE FOR BLDG ONLY. LAND OWNED BY :JOHN TODD. GROUND LEASE 17000 PER YR, 8X52 LOFT, FOUR DRIVE -UP DEPOSIT LANES 17 COMPARABLE SALE 289 95924100062 PIN: 2598386 PARCEL #: ADDRESS: PROJECT: SALE DATE: SALE PRICE: ADJ SALE PRICE: GRANTOR: GRANTEE: YEAR BLT: BLDG SIZE: CLASS: CONSTRUCTION-QUAL: WALL HEIGHT: STORIES: BSMT SIZE: LAND SIZE: LAND VALUE: REMARKS: OCCUPANCY: BANK 2901 23 AVE GREELEY 0 05/06/94 $262,787 FIRST FEDERAL SAVINGS BANK OF COLO FIRSTBANK OF LONGMONT 1979 LAND/BLDG RATIO: 3,388 IMPS PRICE/PSF: D SALE. PRICE/PSF: AVG CASH DOWN: 10 LOAN: 1 INTEREST RATE: 0 LOAN TERM (YRS): 29,185 POINTS PAID: 120,388 BOOK #: 1442 RECEPTION #: 2388809 8.61 $42.03 $77.56 $D 0 0.0% 0 0 PURCHASE PRICE ALSO INCLUDED 8X12 ATM BLDG AND A TWO-LANE DRIVE -UP CANOPY --BOTH WERE IMMEDIATELY DEMOLISHED BY THE NEW OWNER. TOTAL PROPERTY WILL BE RENOVATED/MODERNIZED BY NEW OWNER. '9 COMPARABLE SALE 138 PARCEL #: 95912400020 PIN: 2291686 ADDRESS: PROJECT: SALE DATE: SALE PRICE: ADJ SALE PRICE: GRANTOR: GRANTEE: YEAR BLT: BLDG SIZE: CLASS: CONSTRUCTION-QUAL: WALL HEIGHT: STORIES: BSMT SIZE: LAND SIZE: LAND VALUE: REMARKS: OCCUPANCY: 1701 23 AVE 0 12/29/94 $2,800,000 1701 ASSOCIATES, LTD UNION COLONY BANK 1980 18,988 C GOOD 30 2 6268 97,139 388,556 BANK/OFFICE/RESTAURANT GREELEY BOOK #: RECEPTION #: LAND/BLDG RATIO: IMPS PRICE/PSF: SALE PRICE/PSF: CASH DOWN: LOAN: INTEREST RATE: LOAN TERM (YRS) : POINTS PAID: 1473 2420931 5.12 $127.00 $147.46 $2,800,000 0 0.Oo 0 0 THIS IS A CLEAN ARMS -LENGTH SALE. THE PURCHASE PRICE WAS BASED ON AN APPRAISAL. BANK 7,348 SF, OFFICE 8,340 SE, RESTAURANT 3,300 SF, FIN BSMT 6,268 SE. IQ PIN: 2810986 PARCEL: 0961-05-3-15-022 PROPERTY OWNER: GREELEY NATIONAL BANK ADDRESS: 821 8TH ST OCCUPANCY: BANK QUALITY OF CONSTRUCTION: AVERAGE CONDITION: GOOD YEAR OF CONSTRUCTION: 1974 AREA LEASABLE RENT PER S.F. POTENTIAL GROSS INCOME LESS VACANCY EFFECTIVE GROSS INCOME LESS EXPENSES NET OPERATING INCOME OVERALL CAP RATE ESTIMATE OF VALUE BANK 23525 12.00 282,300 0 282,300 35% 183,495 .12 1,529,125 TOTAL ESTIMATE OF VALUE: 6,200,000 J .\WPFILEs\comeRm\pRoTen's\mics 2l OFFICE ANNEX 76,024 11.00 836,264 15% 710,824 35% 462,036 .12 3,850,300 18,800 9.00 169,200 15% 143,820 35% 93,483 .12 779,025 7i GREELEY OFFICE RENTAL DATA Most Recent N T,I,H,R,M,W a F a N m a a N N CIN 01 01 01 01 01 01 01 01 01 OI 01 IN H N N N N N HH 0 0. N 0 ill 0 O • p 0 N 0 En CO._ _ m_ .... • L in m N M N m . m rn Cu I O 01 O N y GO N 0 0 0 0 Li y� 4 O a O 01 O N O O O O N u o o a z . O . p H 1'1 N N N N N N 01 H N N N N N N 0 0 0 VT fh N V1 0 0 Ui H H 4-1 T,I,H,R,M,W,P T N 'ay �jWJy O m m 11 m 411. 0\ CO a a a a LI) 1(1 N N in O O VI N O O 00 N IO 40 m m N N ' O m N H H N 10 10 O N OI al V) N N N N V1 to. V1 03 r ❑ ❑ m 4 u m o m O N 01 ▪ N m N m z E N H of of W C o W • of W >I H a H a H 'b H m N 0 m m m al 01 m H H N H 01 N 4 0 O N N it NN N N N N II m m H H H N 01 h '0 > N MI Z z H a 0 0 U 0 zq Z > � de O 7ID co O O I0 CO CO in t It N N 01 m 0 eM N d° O N N a O 0 O Oct a - o l0 d° 0 PI IQ N rn N N O a O > H H H W Q W w a N H m u E . W m o ,y a 11 0 `" k It 0 r l fa a O O N U O ~ 0 a N \0 0) N w 0 a a O 0 W IS N a r H En o m l0 N N a ll O N a 01 O a N H N In W y Q 10 N m v m H W z U) JANITORIAL; n (] H K W W N U N t N . > m L W II 11 v Q 'O _Q w w 0) CO > U) H 3 b 01 L m W 01 Li ll .-I O .C W ▪ .C ✓ • W .C Z 'I -N m >. > U (fl 01 it CO U 10 m ()I p '0 W Q W W C 0 W CO N U L G Y H W- U r 0� • H (L H N H „ 10 W .C 3 0 b i ..l Li 0) N N • co L N N CO 'd•'b d 3 d H "� 10 i 4 4 H 01 H N H H i Z m OH W W m N TI N W N U N „ o x a\4-1 o 0 m C IX -I G W 0 0 0 N m0 0 V 0 0 m if a o N W W4 y� ,C N d' -N m 4 o K a 10 N In W CO COL' H r al m w W N h N W C 41 00 H N m N 10 r m m ZZ Ita W COO N .1 N m -a It 4 O m m U ELEVATOR MOST RECENT RENT PERTAINS TO LEASED SPACE, OTHER AREAS OWNER OCCUPIED 0 H 4 H Q H N z W 4' N W N • 0 w a w 0 w W a c7 N a o N O it W In 4 O w 0 .. ro LEE a45 701 b1 > H o m a a 3 3 0 0 i E H H H a a a mrn m o co H ▪ H N O O a 0 m M 0 0 1f1 M N ` M H M 1? 0 C a H O M H 0 0 0 0 0 0 (n 1n H — 0 O 1n0 0 1n I -N 01 N 0 0 0 1n C O 0 N N 0 H 1n co 0 0 'N co H N S W N N X N (0 tn'+rt N r 0 01 H N N N ow IA 4 O 0 a Q Q H W 1(1 N m m m 01 M 0 1u m m r m 01 01 H N H C uJl 0 b u 0 u ro ro • a N Q HE ro o 0 N Om W • ro a CO I CD Cl. N N m H c oO O N O H N N N (R m 1n 0 In m00 0 N N m (1 M N 0 0 c"..o N N m H H w a M N H O G C H oW N o H In r 0 o u1 0 0) oN 0 N CO m m 0 N N H M In N • W C CD U N U v 4Oa > '0 rS w 0 j U MN> it H !P u1 1n b G b' Q Ni H S > N .G 0 u1 O J > O ro d b Q C u i1 IX N Q O .C -.-( H .G O O a L ryryryry'CI Oi 4-3 a H L x b to m Q N b 0] IA N N 3 ro H v al Z NN 1n 0 0 U .C 0 0 3 N o N in m co 0 o -10 10 G G N a O 0 w N G X V O H H H O N H Z H d' N u C W O a z H N M H H H 0 r H H H 0 O N W 0 z I En N m II a II �w] a H a O H II z H a 0 0 U O QZ z Q Q a z H N N W Q W • H x N u1 n I x L.. 0 La II 0 a z z H W En II P�1 H • aQa w a H 3 It F 3 ELEVATOR RECENT RENT TO LEASED SPACE, OTHER AREAS OWNER OCCUPIED u, z H Q Ird -0 • N M a Hello