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Home My WebLink About31610 / 81-21, ... NOVEMBER 5 1981 PURPOSE: SALE O� BOYD SCHOOL INITIATED BY: BOARD OF EDUCATION # 21 RESOLUTION A7HEREAS, the Oshkosh School Board has requested by a duly adooted resolution that Boyd School be sold to McCrory Mattress Company, NOW, THEREFORE, BE IT RESOLVED by the Fiscal Board of Oshkosh School District �1, that the nroper officials are hereby auth- orized and directed to sell Boyd School to McCrory Mattress Company. BE IT FURTHER RESOLVED, that the proceeds of such sale shall be placed in the School Sinking Fund, pursuant to Section 120.56(2), Wisconsin Statutes. _. _.. _.I �� / G- ��.�� - 21 - _ � 0 October 28, 1981 RESOLUTION Ii6 CARRIED L05T WITHDRAWN • I•hID OVER R�SOLVEll, that the Oshkosi� Area School Dis[rict P,oard oi Education recoinmends Co the I'isca7. I3oard the sale of L��e lioyd School and propert� to the hlcCrory hiatress Company; the condit.ions and stipulations of which have.'ueen filed with the Secretary of the 13oard. N,EF.TING OP THli IIOARD OF P.DUCATION ➢ATL / Q °`4,�1 � P.ESOLUTION ;l � � T10VEll: Comm � _ � SF.COND: Comm.��`i�� _ CQP:PSISSIONER CAFiPENTBR COLLINS DAVIS pIERCI<S HILL KOSANKE THOMPSON CA1tRIED ✓ AYE I NO � I LOST `__ �S y�; ., { . ��. � t �� '4�1' � � $ 4„ � ` ** �' ,- Y ��` •�" �� y y �, ;�? 322 E, MUR�OCK • OSHKOSH, WI 54901 • PHONE (414) 233-2607 oct, 2, 1981 Gentlenens Please accent this as our offer to purchase the Boyd school �roparty in Oshkosh. Our intentions for the property are to co m�ert it first to house our mattress factory now located at 322 E. N',urdock Ave. in Oshkosh, ldith the added snace we would be able to increaso our hork force and production--something we have needed to do for tho past two years, � Second, we will be remodelipg interior and axterior nortions of the building for showroom and retail sales, In vieta of major wor'�c needed on the roof and the extensive renovatin; we must do to make this buildin; fit our needs, we are offering $85,000,00 on a lflnd contract xith 10� down and a 10-year oayof£ at 12� interest. I�e feol this is a fair o£fer and hope you find it acceptablee ��Q li� ,�: Sincerely, � r �. _.. �. , �_:;, c��. � \\ 1�Y Thom�4eCrory � I .�S 6 F»: ��a:.>z•' � e�. �� r:'. �+Ss.: �:. October 6, 1981 Mr. William Harvey Ass't, Superintendent-Business Oahkoeh Area 9chool District 215 9. Eagle 9treet Oshkoah, WI 54901 Re: Boyd Bchool Dear Mr. Harvey: Wlth respect to the McCrory i�tattress Co, offer to �urchase the Hoyd 3chool property you are correct in your m�the- matical analysis, McCrory has agreed to pay �8,500.00 cash at the time of elosing end the bal»nce on a ls.nd contrec� with an initial principal oi �76,500.00, with intereat »t 12;� per annum with monthly peymente oi �1,097,57 for a term of ten years. At the end of the tenth year the entire principal balance wlll be amortized, This arrangement reaults in a total yield to the Board of �140,208,40. Thie figure is arrived at by multiplying 1,097.57 (the monthly payment) by 12 (months) which equals 13,170.84 (annually), then multiplying by ten yeare which equals �131,70B.40. Adding in the down payment of �8,500 results in a total of �140,208.40. 12�' interest rtu�y seem low by today's atandards, but interest. rates are beginning to soPten and twelve months from now 12� maybe a very good return. Our company will �ccept 4� oP the selling price as a full commiseion . V y t ly yours, � ,t�-�--�� lliam T, Lewis, Partner Fir�t Prust Realty FI��T' T'f�UST R�Ef�LT3' 712 Ohio Street p Oshkosh, lVisconsin 54901 0(414) 233-2210 c `� ew f� � r _ < L � u� U . � � L ' 0= 1- v t.T, lC0 i"Oh:tS P.0. Bo� IU75 G:ce� Eiay, Y/l 5'?^i fiF 1633 pr,h,,osh ,��,��o.,�.�,,,_ (?ct-�b:^:_3_ . �v 81_ Z7i e �,�ne.t r,��a B�re�.— TY"��": i 4 C`(' p?'�- __� . �_— . ,—. e _-- _' A. e of(ers to purci ase �M1C Grope+ Y 4.no .o a_ �S. . Add ess� �J�._ � J Ol'�F:f J�1 __� V �'F l _ 3 �� q �n [ c G1='.'z----------°• __ .OSYr0-�1-- --•� ��r�r__'1? �1_,b.ai:;? . w�s�o�s,,,, y me�v na.��rula,�r decobed a�.___L��t'_. JC="lOUi i t'OF.).`-'.. S+-.1� ----- 10 havlr'F a frnnt,�y,^ of anout._ ___ __ i. rt;� 11 �'_l_`•.}1t.V...i''LV'i:-�1x?7L'.�`Llllt o- — IZ nd on tne t �s �od � i �ions as to � �YI(� N� " Dollc...('� - �O�B�� _)Tcnderedhercwi!n. Far estM n-Y (.r.-M(chcckl__ "�c`_1�i�QQ"_" — ""-'"—'___"_U_— r�i�h u Aepvh of ai�out__ "' i�? __ _fae[. a[ the prite o' -------- -._ o.,iiz,s u��-a-�r=��? .� 13 t4 IS 16 17 IB 19 10 21 11 23 14 15 26 Addrtiunal Ear��cst Iioney (casn) (check) to be pafd wi[hin_ days of accepwnce of ofter (er on "'"_____"_.__ .—_ — and tM1e balance �n ensh a: ciosing o� as he.ez:'!er se; fonh. . TI.ME IS O� THF ESSEf2CE F; TO �.DD:T�.;:`:/.L FlRNESTl40tdFY PHY`tEtST. l'NE BUYG%1'� CiiLIGAT.IG:d TO CONCLV:'•E T4'S TRhNSi�CTIG?l !S CGI.D;TIONF.D UPO�'d lHe CO"15UM:tAIICH OF Thic FOLLO'NiNS. . (rt tliis of(er is sub;eci to Le..nc�ng. ur o,.�� oC:er <on[ic�,enq. It mus: b� s:::;o�c he.r.•. U r:ane so ste.;e.1 1. T:,is cPfer t� r.�� ^a:: ��,� r�o t^� :� le oi ��'r��- .,io^�?r�,�. — -- - . _." ___ .. ._ _ '__ _ _' . _ ._ _ u �ll i " f a, -.n rn"r " r.--.�°___" � m� 3� ...^.C� °-l�_E'.J 1,C t:. C,�.:..._ ? 7"__., l� C.1...L_7C9, O., ��. _�., c..a.'_l0 . ;'�l. SR �' _ _ . _ ' _ . - r _ _ _ . . t n .� f 'i � f'� '`7' � r'%� �) �� ) �! T 4 i i u(' Y- 'f � �) b!a t,;��, �� tr.� �___. _��.7�� .� �_.;( h n ; r°� �� 0 2-- r -- -- -- — — �_ I111;1�1 :!. Oil 1} ^. G1: .i(. ". .. . .1. i r �.,�_i t]!' .:!'! � s ti �� : O'"1 i.1?i,% ' '-7\%' i ;7 �� ;_.ti!�--- —____ .— _ '_. . _ _ _. __ ._ _ J_�li ..., :?l., r7'.. rCl'.�, n�. �tl �%�1.^i� . •i �r T.'_ �y ' _ c_ � ": G ' �1 ' -.' �� ' � :1 ..a: � ��.V___ _{.�.._ .-..��.ur;Y..a..�.x :�:.cu..rY..� .- J�. .. .� u.__ .. �...<] � a_ .,n M.: _ _v ._�=�6.`O�_ Si � ��I �I I � �' •"� S: A , �•� �U �,.� .1 � Oshkosh Area School District 215 South Eagle Street Oshkosh� Wisconsin 54901 Re: Appraisal of Boyd School Attention: Mr. William Harvey, Ass't SuDerintendent-Business Dear Mr. Harvey: Pursuant to your request� I have examined the property at 3135 Oregon Street Road, more particularly described as: Boyd School Property Oshkosh, Wisconsin The purpose of the appraisal is to estimate the fair market value of the property in fee simple as of the present date� May 29, 1980. This is a general estimate of the present market value of the property, based upon personal observations of the undersigned appraiser and on information received which is believed re- liable but cannot be guaranteed. All iniormation and comments concerning the location, neighborhood trends, construction quality and cost� obsolescence� condition, rents and other data contained herein represents the estimates and opinions of the writer, which, with analysis and conclusions drawn are believed to be correct. Fair Market Value is defined as the highest price estimated in terms of money which the property Will bring if exposed for sale in the open market by a seller who is willing but not obliged to sell� allowing a reasonable time to find a buyer who is willing but not obliged to buy� both parties having fu�l know- ledge of all uses to tahich it is adapted and for which it is capable of being used. No survey has been made� and any sketches furnished are for illustrative purposes only. No attempt has been made to render an opinion of title� status of easements or any other legal matter. By giving this opinion, the writer does not grant the right to quote it� nor the right to court testimonya Ft�iST T!d UST REALTY 712 Ohio Street o Oshkosh, Wisconsin 54901 0(hld) 233-2210 � �L� The estimate represents the independent opinion of the tariter� free from any committments and from pr esent or expected future interest in the property. It is my opinion that the Fair Market Value of this property described herein on the above date is: ONE HUNDRED FIFTY THOUSAND DOLLARS. ($150�000.00) Re ctfully submitted �� . �-o--�-�._� Ro in E. Jones NEIGHBORHOOD AATA Subject property is situated within the City Limits of Oshkosh but it has a country "air" being quite close to the City's southern limit in an area that is more rux�al than residential. Boyd School occupies the southwest corner of the inter- section of Oregon Street Road and Waukau Avenue. It is very close to land that is part of Oshkosh's south in- dustrial park, known as Oshkosh Air Industrial Park which consists of 120 acres, 30 acres of which remain to be sold. The Northwest and Northeast corners have commescial uses and the Southeast corner is residential. Subject property is bordered on two sides by a 31.38 parcel of bare land which is zoned M-2, industrial and subject property is zoned M-1 industrial. . -1- •�� l � � , - fl,or,c�� Rit�urd G. NaslunC, Frosldent C.C.�.M., GRB.. GN.S. �`��lr�� N�. �f I SEE US BEFORE YOU BUY, BUtLD, SELL OR TRADE neauon' PHONE (tl�) Y33-0122 • 7I9 NORTH SAWYER STREc'T � OSHHOSH, WISLONSIN 5�901 ;�fay 1�, 19n0 Pir, l^Jilli�m Harvey Assistant SUperintendent. of T3usii�es; Oshkosh Area School District 215 5outh Ea�le Street Os'ikosh, blisconsi.xi 51a�?Ql Pursuant to your request, I have examined thc property at South::est Corner of Ore�on �tre,t and ldaaukuu Aveiiue more pa�ticulariy described as: Bopd School See le�;al dasc�iption and plot ,�lan ;ncluded. The purpose of the appraisal is to estimate the Fair Market Value of the unencumbered fee simple title to the subject property as of Nay 14, 1980. fair Market Value is the amount of money that a property can reasonably be expecfed fo bring at a sale after being properly exposed to the market Eor a reasonable time. Accom- panying conditions require a well-informed, ready, witling and abie buyer and seller, neitlier of whom is under any compulsion or necessity to buy or sell. The appraiser has considered the location, the environment, thecurrent selling and asking prices of somewhatsimilarproperties, physical description of the property, functional and physical condition, opinions of iniormed persons, present use of the property and h ighest, best, and most profitable use to which it could be put, and other environing fzctors pertinent to value. lt is my considered opinion that the Fair Market Value of the subyect property was: OVL HUNDP.ED SEVGII`I'Y FIVEs TiiOUSADtD DOLLARS ($175,000.00 ) of which $37�000.00 has been allocated to land, M�mWr ot OsM1MOS� BearO ol REAlTOflS • Oa�koa� MLS - WRA -� Wiscons�� E�c�an�e CIUC NAR � Comn»rciallmaflmenl Diryion - Amatican �afat�ebon ol Ceqilind AOpruisa�s � Sanqi ., � �---- — 2 — TY:e land valuation is b��ed on the documented ;ales in the are� oF around $6,OU0. It c�n be ari,ued t.liat to i;his should be added dri�es, rralks, olay fielns� etc. Iiowever, Lhr, �ppraiser _*'eels it bast to use the bare land cost and not try to eper,ul.ate how the nerr buyar would or would not use thc� i and surrounding tlie improvei�ients, Re,a,ar�iless of the valuation alloceited to i;he ��nc3 it, i: tYie appraiser�s opinion that d;175,000 reFmesents the preaer.t m;irket vslue No responsibility has been .ssumed for matters whith arc icgal in nature, nor has any opinion on litle becn rendered, this a��pnisal assuminh marketable tide Licns an�l en- cumbrances if any, have been disregarded, and the property appraised as though Eree of indebtedness. While it is believed the information, estimales, and analyses glven, and thc opinions and condusions drawn therefrom are correct, the appraiser does not guarantee them and assumes no liability for any errors in fact, in analysis, or in judgement. Entployment in and compensation for making this report are in no way contingent upon the value reported, and 1 certify lhat I have no financial interest iii the subject property. Itespectfully submitted, < , --/G C• <L2 �� " I / �� C . ;��-�'�., ��C= Richard C, ldaslund �� / -1- 1 -- PdARRATIVE -- This appraisal includes only the most pertinent facts, anal;�ses, and conclusions. Highest and Best Use is , ras always, crucial to arrivint; at a mnrket value which will mal:e sense to the m��.rltet place. Ptie sub ject property is a specir�l purpose property and remodelinp, for other than its present use would be very costly. Two church �rro�ips have expressed an interest, so at the ri�ht price t�pparently the F;reserit use could be contin�zed by private schools and/or churcYies. This apprniser does not believe th>_t after the area is ch�nged to almost ceripletely industrial that c� school fits in too w�ll. Nor does a church. T?arket ��alue is said to reflect all'the future benefits of ownership. Certainly, bein� surrounded by industrial would not add Co the v�lue of a church or school property. The buildin� could be converted to office typo use in conjur:ction with one of the exp�nding industrial plants. Because the building has been added to there are two differerit floor levels. 7'he ceiling tile sho4i roof p^oblems here nnd there. Construction is just fair. Gal�.ups Creek runs on the west side of the property and pres�nts a problem for someone wanting to exp�and in a westerly directicn. Oshkosh Truck property surrounds the property and would seem to be a good prospect, as they are resdy buyers of everything in the aroa when prouerJ:y priced, '• Lsnd in the south industri�l psrl< is now individuall;;r l�ri.ced at ciround $8,K00 per acre, This is asking price and you can see by the actual sales that $6,000 is �bout what the market has paid to date. With the er.ono�ny as it is it is sai'er to sta; on tne bid side tnan on the asked, Thereforo, the subjer_t property woul3 show n present rearket vralue of $37,?_00, all.owir��; $6,200 per acre. Usine the Gr�nE,e �chool snle m�ith y;l?_o00 a squzare footi allocr�t,ed to improvetr.ents we would f;et �180�000 for the Boyd School, ihe Ura�:ge School had 5,OG0 snuAre feet while �the IIoyd School has 15,000.' Ad3ing lnnd of Y36,000 and im�:rovements of �1n0,000 gives a vsluation of $216,000.00, Fowever, the appraiser feels that the situation �:ith Lhe Town of Alguma was n:ade to order, the lccation better, the property more versatile, and for these and other reasons the property at �210,000 should be discounted 20;� ��proxi.rnately to arr9ve at say $175,000 present market value for the subject property. The cost apprcach or the insurance value only reflect replacement value, and, as such, set the upper limits of value 5ut are far removed from actual market value, I taould like to call the reAders attention to comparables �2 and ��5 in which the market paid around W10.G0 a square foot 1'or the improvements. Several of the coripara- bles show the acrea�e price of �6,200 as reliflble. Allowing $150 000 for the imnrovernarits �nd $37,200 for lsnd E;ives a total of �1�7�200, f?owever, the subject property is s��ecial r.i.r- pose and demanci is thin. Therefore, :it is this epnre-.'�ser�s opinion that the present market vralue oC t.Yie sub�ec� pr•or,erty is O1dE EUVDRED S�'V�P]'PY FIV� TI?OL�SAP7D llOLLAR . � . . . , FISCAL CONTROL BOARD - VOTE TALLY SUBJECT: � �J(if�-0'L`r- �c-� ��-) MOVED: �� 'AC� SECONDID: � �Ji ��(�i�1/Y32� GU/S�/�J MEMBER C?I�'LDIN (Floyd) �� N0. OF VOTES ME�TING DATE: Sy�� 198t TIitE: $•�Qa,„, IY"� U Based on Equalized ��aluation (August 1981j Oshkosh � �96 %o�'�� DIAKOFF (Jeanette) �h/Algoma cy� -4�3 EGAN (Bernard) Tn/Utica �-�- GRUNDY (G. Philip) Zh/Oshl;osh �gS 389 HULSEBOSCH (Charles) Oshicosh �� 686 ___ i4ATHER (James) Oshkosh 60;� 66Er -. YASKE (Donald) 11i/Vinland 3,�r 3�i- POLLACK (William) Tn/Nekimi ol�9 '}�95 PROPP (Kathleen) PUP1G (Robert) Oshkosh (v0„L �i9b� %n�`/. Oshkosh /�c,2, �96 "!;j N � SZTZBERGER (Ralph) Zh/Black Wolf ��p $2-�- TETCFL*1ILLER (Bernice) KUTCHERA (Donald H.) cirY: �-�-- 4a.r � To�aivs: -�-f ��(qa.. � Sqo� Oshkosh boZ 68a- ��1;j Oshkosh f�� 696 "�'.��- �_; /� �it.q,� : i'��r �% S 3 5 - � �. � � �� g�- I � � �� wu� 1 `t31 1t3� � N � �� w l. O � � .a � N O � Go �� oro 1� U G �.1 0 �1 .� v � �� a°� � � � � 0 b a O H � 0 � N N ri �o rn tn O� N r-� M cn omm ti� � � � � � �i ',�a N ',� sJ +> s7 +� 3 -,� d� •.� o U O U H H N VI N N m � z ¢ � N � a � � rn � � � z° � �1 '� o� J� .,� V • . r