Laserfiche WebLink
RUSSELL SMITH ASSOCIATES, INC. <br /> • Specialists in Real Estate <br /> WESTVIEW BUSINESS CENTER <br /> 620 MENDELSSOHN AVENUE NORTH • SUITE 131 <br /> MINNEAPOLIS, MINNESOTA 55427 <br /> RUSSELL C. SMITH (612) 545-4404 <br /> PHILLIP C. SMITH <br /> August 15 , 1984 <br /> CITY OF <br /> Mr . William Biem <br /> Pinecrest Properties <br /> 6750 France Avenue South <br /> Edina, Minnesota 55435 <br /> In Re : Our File #77131 <br /> Vacant Land <br /> SWQ of Hwy #10 & <br /> Co . Rd . H-2 north <br /> north of Hwy #10 <br /> 4111 <br /> Moundsview, Minnesota <br /> Dear Mr . Biem : <br /> You have asked that I review my appraisal of June 21 , 1977 made <br /> as of June 17, 1977 in the light of what has transpired in that <br /> neighborhood since that date. <br /> The 1977 appraisal of the property was in the amount of <br /> $ 530 , 000. You indicate that you do have copies of that <br /> appraisal. Please refer to them relating to fact information. <br /> I am advised that the property has not changed physically sv: e <br /> that date . The economy has changed as well as further <br /> development has taken place on Hwy #10, the major highway in <br /> front of the subject property. <br /> Because you have the appraisal report and particulars , I have <br /> only addressed your current question; i.e., for the purposes of <br /> your park dedication , the same purpose which that appraisal <br /> report was , I believe , prepared in 1977 , what is the "as is " <br /> acreage value of the subject property, at this date? <br /> In answer to that question, I would believe that the value of <br /> the property should have increased somewhat since the date of <br /> 410 my previously submitted appraisal . At that time, the economy <br /> was slowed. It got better after 1977 , but again slowed and <br /> during that total time frame, the market activity in vacant <br />