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Hotel La Salle Tax Appeal / Appraisal Analysis <br />Average Appraised Value (Lots 1 - 3) <br />440,000 Pitts <br />441,000 Michaels <br />440,500 Average <br />Land Value Per Square Foot (Lots 1 - 3) <br />9.75 Michaels <br />10.15 Pitts <br />9.95 Average <br />Square Footage of Parking Lot (Lots 2 - 3) <br />21,780 sf X $9.95 = $216,711 <br />Value of Lot # 1 only (site of Hotel building) <br />$440,500 average appraised value Lots 1 - 3 <br />($216,711) land value Lots 2 - 3 (parking lot) <br />$223,789 value Lot # 1 only <br />Land Value Per Square Foot Lot 1 only <br />10,890 sf X $9.95 = $108,355 <br />Value Improvements Lot # 1 only <br />$223,789 total value - land value = $115,434 improvements <br />