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LAND VALUE <br /> Four land sales are identified in this report. They are summarized in the following grid. <br /> Location City Sale Sale Site Utilities Price Per <br /> Date Price Size Acre <br /> SUBJECT South Bend 44,344 Full <br /> 3510 Western Ave South Bend 2/8/2010 $42,000 17,654 Full $2.38 <br /> 1130 Western Ave South Bend 8/5/2009 $12,000 4,873 Full $2.46 <br /> 1931 LWW Mishawaka 3/30/2012 $75,000 23,741 Full $3.16 <br /> 5032 Miami St South Bend 3/17/2011 $197,000 51,837 Full $3.80 <br /> These sales show a price per square foot of$2.38 to$3.80. <br /> The sales showing a value of$2.38 and $2.46 per square foot are located in inner-city locations <br /> which are decaying. The value of the subject site is likely greater than the amount shown by <br /> these sales. <br /> The sales showing$3.16 and$3.80 per square foot are judged to be superior to the subject <br /> property in terms of location. <br /> Based on the above analysis, the value of the subject site is judged to be at the low end of the <br /> range. It is called$2.40 in this report. <br /> The value is as follows: <br /> 44,344SF X $2.40 = $106,426 R$106,000 <br /> The subject parcel has an estimated value of approximately$106,000R <br /> isiso,. .laraiin ... ..___ I _ t,, zi,-;.•_ <br /> 0 <br /> 4 `N , <br /> , _ <br /> . , . , ,, liiiiiiitvlsba AP Fa f _,r -inn— <br /> l r <br /> 21 <br />