Vacate - First Noth?South Alley West of William St Extending North from the North Line Western Ave

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Mr. Brian Sauers March 23, 1988 Page Three thereof depends not only on its present use, but upon available, reasonable and acceptable alternative uses permitted under the local building and zoning codes. Presently, this parcel and by itself is unusable for any alternative use involving the construction, erection or maintenance of any structure, the storage of materials or any use not related to the existing adjacent surrounding zoning and land uses. Accordingly, it is the opinion of this appraiser that the next highest and best use assignable to the subject property as an alternative reuse thereof is as parking area, drive or, in contemplation in the joining thereof with the adjacent property, as a building site. It is customary in both law and practice that in instances where municipalities, governmental agencies, public utilities, railroads, pipe- lines and other entities either vacate, abandon or any other fashion surrender their rights over, under, upon or across any given parcel of real property, the remainder rights to the real estate fall to the adjacent property owners, particularly in those instances where such municipality, government agency, railroad, utility or other entity willfully abandons its rights thereto. It is the opinion of the appraiser that the property should be, and it hereby is, appraised as though it were to be vacated, abandoned and surrendered by the City of South Bend on behalf of the public domain to the adjacent property owners and used in a manner similar to the uses now resident upon the adjacent lots. In the case of the subject, this adjacent use is principally as vacant land with regard to lots 9, 10, 11 and 12 and the south half of lots 2 and 3. With regard to lots 5 and 6 (particularly of the west 49.5 feet thereof) this use is as a commercial auto repair facility. With regard to lot 4 this adjacent use is as a single family residence and the property contained in the east half of the alley contiguous to lot 4 and contained between the westerly extended lot lines of lot 4 would be as a single family use.. The establishment of the Fair Market Value of the subject property then becomes that of comparing the sales of similar properties owned by the city of South Bend and sold from time to time at public sale by and through the Board of Public Works. In this particular instance,this value is derived without regard to the exclusion from the subject parcel of a portion thereof 7 feet wide and comprised of the northeast quarter of the proposed alley vacation. ( 7 feet by 99 feet). Instead, this appraisal establishes a value for the entire portion of the alleyway lying to the south of the right-of-way of the east/west alley (14 feet by 198 feet) containing some 2,772 square feet. The issue of adjacent property ownership, access, ingress and egress are ignored for purposes of this appraisal. This appraiser has since 1982, prepared diverse appraisals of property at multiple locations owned by the City of South Bend and through those appraisals has recognized the ultimate Fair Market Value at sale for such properties, typically residential in nature and typically located