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AVrai_4aC SY.4t.ins <br />November 4, 1993 <br />Mr. Gregory T. Riddle <br />Deputy Fire Chief <br />Elk Grove Village Fire Department <br />901 Brantwood Avenue <br />Elk Grove Village, Illinois 60007-3950 <br />RE: Market Analysis. <br />3-5 Acre Relocation Site <br />Elk Grove Village, Illinois <br />Dear Mr. Riddle: <br />APPRAISALS <br />CONSULTING <br />MARKET RESEARCH <br />104 MAIN STREET <br />PARK RIDGE, ILLINOIS 60068 <br />TEL. (708) 825.3142 <br />FAX. (708) 825-3147 <br />I would be pleased to accept the 'assignment to research and document the market <br />activity in the vicinity of the Oakton Street corridor, between Stanley Street and Lively <br />Boulevard, in Elk Grove Village, Illinois. The scope of the assignment includes the <br />necessary market research and analysis to provide your office with an abbreviated <br />narrative report defining and verifying the most recent vacant land sales and current <br />offerings of sites, that would accommodate your needs for a new fire station, training <br />facility, and possible salt storage dome. Per our conversation, we will estimate the market <br />value range of the 3-5± acre site "as -is" and , assuming the site is appropriately zoned, <br />cleared and immediately available for your proposed development. <br />In accordance with your request, we will prepare an abbreviated narrative appraisal in <br />compliance with the Uniform Standards of Professional Appraisal Practice established by <br />the Appraisal Foundation, and in conformance with the Standards of Professional Practice <br />of the Appraisal Institute. It is our further understanding that the payment for the appraisal <br />services will be the responsibility of the Village of Elk Grove. The fee to complete this <br />assignment will be $1,800. <br />The above fee quotes cover work under this contract only. Such items as legal <br />conferences, court testimony, or expansion of the appraisal to include condemnation <br />damages or for purposes not specified herein will be billed at our standard prevailing per <br />diem rate of $1,500 or, $150 per hour. <br />