The URL can be used to link to this page

Home My WebLink About29323 / 78-17� February 2, 1978 (CARRIED PURPOSE: #17 RESOLUTION LOST LAZD OVER WITHDRAWN ) Determine Just Compensation on the Wisconsin Public Service Corporation Building INITIATED BY: City Manager WHEREAS, the City of Oshkosh is desirous of acquiring the Wisconsin Public Service Corporation building located at 25-27-31 Washington Avenue in conjunction with the State Street Relocation Project, and WHEREAS, the neces5ary appraisal5 and a review appraisal have been completed in order to establi5h just compensation for the property, said review appraisal in the amount of $I31,50d. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Oshkosh that the appropriate City officials are hereby authorizea to make a written offer to the Wisconsin Public Service Corporation in the amount of $132,500 contingent upon approval from the Wisconsin Department o.f T�anSportation. - 17 - � . _ _ _ _ _ _ _ _ : � �.,� . - V �z.:,.;._• ; i ; � : % i �... .,. . � .... , .,. ,;-, � �, ; , � f1PPR:AIS.-�L REPC�ItT � � � Propercy O�vncr _ �1'isCOnsin _ Pub1iC Service_Cor�oration __ _ ___ ____________ 54901 p�vner's Address _3300 _N. N�ain Stree�, Osh'cosh, tn,`isCOnsln __ p}�one (�r14) _231 _7100 Pro�ert �Address __25�?�_�31 'rlashin;tcn _,=.venu�, Gshkosh,_Jiisconsin _ 5a901___ _ _ E 7 — -�lock 27 H. rriess Acl�itzon, llescription oE Entire Propert},— Lots__G�--.H t- I'---"-------�------ --------__---------------- •:,'ard, City of Cshkosh, 'rtinnebaro County, :�`isconsin. � Se cond -------- ----------------------- ________cor�taininb __lOL2a7.63 ��,�e�� (Sq.ft.),asrecorded in: ------------------- I (InClutle Past Five Year Saies History, if any) . Vol. & Page Grantor Grantee Sale Date Sa1e Price Interest Acq. _ 116�26 ---- none_giv_en ------FQ�_ 37�—�--3�9----�a�wife��!'�1.P.S.Corpo ' . __ .. _ . . ._. . -- . -------------------------- ----------------- . ..: ,.; ,, , _ • C-4 Central Business Present Use _ VaC3Tlt =StOre artd Cffi.Ces Zoning ----------------------------- Area and Interest to be Acquired _____ 7� 573.68 _ Fee__ as shown on "Righc of Way Plat" Sheet __________ Dated __ --------------------- . Commercial Hibhest & Best Usec Before COmT[ter'C1.�� _ __ After ___�__�--�_--_---- Tliis appraisal is made for the purpose of estiir►ating compensation due the owner for property or r��hts there�n to be acquired under the provisions of the Wisconsin Statutes, based on rules oovernirrg the determination of jast com- pensation as provided in 532.09. THE UNDERSIGNE� APPRAISE� HEREBY CERT1FlFS THAT: On ___12L9�7Z_--T ,� I made a persanal inspection of this property. ' On ___12�L��22---- Iconferredwith l�:r._R. C. Buttke Real Estate Ac�enc� . �-------------- � . (the owner or his designated representative) �O� ��erS On ___12��.�22___ [ invited t�i�:_�obe�.t �ick�_loeal representatiye ___ _ —' ([he owner or his designated representative) . to acconipany me during my inspection of �he prop�rty _�,1.s.Q�i�,�_J3.1�.��]�� 3-'t- t-Y� ��x1�e�er�ee� The custodian of the property _took_me_through_-according to Mr. Buttke f s -- ----- ------------------- — — � ins��'uc�a.ons. I have no present or contemplated interest in the property appraised. . _ I have given consideration to the value of the land and damages�and benefits to the remainder of the land, iE any, to the extent allowed under �Vis. Statutes. � - Non-compensable allowar.ces have not been included in this appraisal. In my opinion, as of _I2�c_emhh,�9�_1222--- � 1. The fair markct ��alue of the whole property is 2. The fair market value of the remaining property, _ assuming completion of the public improvement, is 3. The total loss or damage to tn� property is � - -- ------- - �— - — -- ---� Date ----- CRecked by _ _ __ _ — — - - --- ------ - - — —� _ _ _ - --- --- . I�7 4994-0-29 Pro�ect - ---------. ---__.__. � 1__�1 �_509....__ � --�--r�-9Q-------- � 123�204________ Date of Report _,I3ritic3��! ��_1�1$.------ _.FQ�£_VALLEY APPRAISALS� INC.________ � '�'_,i�`_��/_ �-- ^� -`'"-�----------- � Jose;,� H. io°rfler� �?AI SF:tA Parcel _— 3 ----------Y------ � �„ .� ._ - � ',-. _ _ . � ' :1Pf'EZ:�1S.1L }:�.'r•(?i�;"T ProF�crt�• O��nc� :ti'� sconsin Public Service CO2�D. Owner's Adc�ress __P.__O. Box %00, Green Bay, Wis. s�305 �-t1��—�F ?— �1 ---- -------------------------------- Phc>ne — ---�=-33-- F'roj�crt�• iyddress ___2.j_-2%-31_ tiTa,sriington._.Iiye_., _Os'r?kosh_,_Wi_s._ I�C'SCfl�;ion of Fntirc F'rop;.•rty_ Lots G�_H and I�_Block _2_7�__H. _Priess__�ddn. t_o__the __ __ ____C:i_ty__of_ Osii'_1osh._____�Sub._to_R�W over_Sa. _?_2_ft__of Lot_I� ____ _ -------_-------_-- --_-- containina 1_O� z47_63 _(��) (�9_ ft_), as recorded in: (Include Pazt Five Year Saies History, it any) " Vol. & Page Grantor Grantee Sa(e Date Sale Price Interest lacq. 371=�20-----R_ Graf ---W.P.s _ co_----i161z6---- �?z8, j84.18 WD — and other lands Present Use Q��'?c� t�ld_.g__^_�artl.� vacant _ Zoning __lst Business Area and Interest to be Acquired _? � 5?3 • 68 sq_ft _^ as shown on "Right of Way Plat" Sheet __ 1______ Dated__10/10�77 _ Highest & Best Use: Before ___ Off�e� Bldg.______________ Afcer _Parkin� & Street R. O.W. This appraisal is made for the purpose of estimaiing co�npensation due the owner for property or rights therein to be acquired under ihe provisions of the Wisconsin Statutes, based on ruTes governing the determination af just com- pensation as grovided in S32.04. THE UI�'DERSIGI�'ED APPRAISER HEREBY CFR'TIFIFS THAT: On _ 12115L77 _____ , I made a persanaJ inspection of this property. On __I_2�1.5�2�_____ t I conferredwith Ron Buttke�R._E _ AgentL W.P.S; Co. (the owner or his des�gnated r�presantative) _ On _�2�1�,[ZZ__.___ , I invited _ Ron Buttke _ (the owner or hisdasignated representative)�� T to accompany me during my inspection of the property _ whic�i_he d�d_._____ I have no presenc or concemplated interest in the property appraised. " I have given consideration to the va)ue of the land and damages and benefits to the remainder of che Iand, if any, to the extent allo�ved under Wis. Statutes. Non-compensa6le allowances have not been included in this appraisal. In my opinion, as of __?ZI15/77__________ 1. The fair market �a1ue of the whole property is 2. The fair market value of the remaining propercy, assuming completion of the public improvemene, is � _I2��.009^------- � __ 5, 000_---T -- 3. The total loss or damage to the properry is � I22, 000 _______ Date of Report __Dec. _23, 197'% _______ -- ----- _ , -------------- — �� L! . .�?_�� -------- CneckeC by ---�-- � --------�Date-�--�--- Prc,jtcc _ If99��o-30 _--___�.__----- Parcel _____ 3 _ , . . ...+v 2{%r�3' _.__ __.. ar .''-...,, ..^r . ._.. ...._ yx��s. '_' '. . .," -�j"„+..�7r'�` _ �."ix�� ^�.5 °.�,'�"'3° _°"'µ:'�""^'^'�"S'?"�T^'�".�.°�p'�"sf'� _ -..-..:.�'.x.� . :XS".'."�:SC.. "%r' � . �_ . , i.,_. ...:� . � .�. � cp. �.:. . ... : u. ,' �....._ a.. .�.s-s.'?"_ n s.�.�:. �� .. � .vf.�.:' . ...,. ,...�'^t' _..` �— �� .'\ \ , W .__„ =. � ,�. _ - : � �� .�. . � �Y." �:i •�t. � . �,�:- -_ �y . � � l� µ V� rir. �:illiam Frueh, City i�lanager Ci ty Hall Oshkosh, Wiscons?n Dear rir. Frueh: /� � CUiittiCi!:t.".I�NC,GEP AD�41�^?I�i':.f!rJ.`I 3anuary 31, 1978 This is to certify that I have reviewed the two appraisals of the tdisconsin Public Service property located at 25-27-31 Washington Ave., Oshkosh, taisconsin ]_egally described as: Lots G,H & I Block 27 H. Priess Addition to the Second Ward, City of Oshkosh, subject to an easement over and on the South twelve feet of above described property. Qne appraisal prepared by Fox Valley Appraisals Inc., signed by Joseph H. Doerf2er and dated January 23, 1978 the other prepared by Peter F. Dorschel and dated December 15, i977. T�e appraisals are being used to acquire said property for the purpase of right- of-way for a street project to be constructed by the City oi Oshkosh. I have visually inspected the site and am satisfied that tYce appraisors have accurately descrihed the physical features of the property. All information regarding compa:able sales as used in these reports correspond to information rece5.ved in my office. The rental figures applied to this property are fioures taken from the Oshkosh market. The capitalzzation rates applied by each appraisor are individual opin- ions and apparently are based on jud�ement and experience of each appraisor. Co;�sidering all the findings of both appraisors as expressed in their reports as pres�nted to r-ie, it is my opinion that the fair market value as of this date is $131,50�?. It is the assumption of this appraisor that the city will acquire the property in its entirety and there will be no remaining property. The term market value, as used in this report, may be defined as: The price which the property_-wz11 bring in a competitive market under a21 conditions requisite to a fair sale which would result fxom negotatiores between a buyer and seller, each acting prudentiy, with knowledge, witliout undue stimulus. Afy estimate of value is a correlation of facts and figures as presented in a£ore- mentioned appraisals. Res tfully, � `-��'v ="'t�_.,�r..��_ Lowell 0. Lee City Assessor LOL:mr Attach/1 r �:"Y :i�l. •.�.:; ::.:';��`-i .'.:�; DIAL� 414 - 23)-441�' P.O. BOX 1130 OSHKOSH, WlSCONSIN 54901 � � � � _� ��,� � 'x�. � . F y� r �'^ � } _ ,�y ri � a• y �,�J . t,. � -,,r� . `� co��;:ciC;-1.�N�::.,�. Af)J,il�t,�-.,:r+�;�r ANAI.YSIS.OF APPRAISAI, REPORTi OF WISCONSIN PUBLIC SERVICE PROPERTY The $131,500 figure as reporte@ by Mr. Doerfler as his opinion of value was selected by me to be the most representive of mar�cet value for this property. Mr. Doerfler estimated the value after taking at $8300. Tnis value relates to a 1977 sale of a small vacant parcel one block south of the property being appraised. The land value after taking of $8300 when added to P-1r. Dorschels damage va].ue of $122,000 substantiates the $131,500 figure. As previously stated, the incone approach was given the least consideration due to the many assumptions which were nade. The cost approach was done in accordance �vith accepted appraisal.practices with depreciation estimated, using each appraisors judgement based on experience. The narket approach data as contained in both reports is basad upon factual figures taken from the mar'�cet in tttis area. This approach offers the most substantial evidence of value in thi,s particular case, an� my opinion of value is based on this fact. ify estimate of value is a correlation of facts and figures as presented in aforementioned appraisals. As previoLSly stated the value estimated in this report covers the entire property. If it were not to be purchased in it's entirety, my estimate of the value of the remaining prop�rty is $8300. LOL:mr Res tfully, � � i 1 � � ��`�.J -_"� Lowe11 0. Lee City Assessor .. � ., .__ � . :� �.�-� ��t�"i :�.� : ; , � DIAL • 4)4 - 23T-4410 ! P.O. BOX 1130 OSHKOSH, YlISCONSIN 54401 � � � • : �._ � � • - � �� .� QUALIFICATIO\S Or REVIEtJ APPRAISEP. � Deputy City Assessor 14 Years City Assessor 3 Years State Certified Assessor 2 Cert. �40i619227 State Certified Assessor 3 Cert. ;500139227 Valuation Courses One, Two and Three Law and Administration Courses Qne, Two an� Three Numerous Short Cours�s and Seminars Review appraiser for City of Oshkosh in the Excelsior-Badger Project. Revie�v appraiser for City of Oshkosh in the riarion rfanor Project. ti � � �4 ,`�C `�C' � V J r' v W 'l �� U 1 •ri � � O rp U � a �o +� � �. � � '�' � � • � z i +'� f!2 r--I � %"i •r-I � O � �+'' U p� � .,-I u1 � �i •rl �i � '�-I 3 O � � •� � a� +� +� N , L," cT3 p � .. +� +' � O rd � � � � 'i� .CI ¢I di •rl O F� F., � O O � � � � H cd •�-I O � +� •rl N •• � {� U � �--I cC .,.{ O 0 � '� •ri � �i �I i-� � v � � � ¢i t� � � N � r-I N x � � v F� C$ � � � i� � � 4J .,� GT+ CJ '__ _.. ----�-e�� . . �.._.r-. _' . _ "'. __- � ° �