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4 <br /> Hennepin County <br /> • � � <br /> IV,- <br /> {1 , <br /> 'i : An Equal Opportunity Employer <br /> February 12, 1998 <br /> St Anthony Village <br /> 3301 Silver Lake Road <br /> St Anthony, Mn. 55418-1699 <br /> Attn: Michael J. Mornson <br /> Re: Value estimate for the Village of St Anthony's property located on Kenzie <br /> Terrace. (Fire Station, Liquor Warehouse, Beauty Shop and The Stonehouse Bar <br /> and Grill). PID 07-029-23-24-0001. <br /> Dear Mike, <br /> • At your request, I inspected the above property on 2/6/98 for the purpose of estimating <br /> market value. It is my opinion that the estimated value is in a range of between$500,000 <br /> and $550,000. Because the property is unique with its varied uses and its low land to . <br /> building ratio, it was difficult to locate similar properties for a market approach to value. <br /> Therefore, in estimating value, I relied on the cost and income approaches to value. <br /> I have enclosed a copy of the Hennepin County Assessor Appraisal Data card, a copy of <br /> the plat from the County's mapping system and a copy of the aerial photograph. Note <br /> that the aerial photo indicates that the subject's parking encroaches on the highway right- <br /> of-way. <br /> Please call me if you have any.questions or if I can be of further help. <br /> Sincerely, <br /> Dan Salzwedel, SAMA <br /> Senior Appraiser . <br /> • Hennepin County General Services <br /> County Assessor Division Recycled Paper <br /> A-2103 Hennepin County Government Center <br /> Minneapolis, Minnesota 55487-0213 <br />