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PROPERTY DESCRIPTION <br /> The subject of this appraisal is a part one and two story, office/warehouse/shop facility <br /> consisting of 45,000 square feet of building of which 10,000 square feet is good quality 2 floor office <br /> space with elevator. These improvements are situated on a site located at the northeast comer of <br /> Fenway Boulevard N. and Fenway Boulevard Circle N. in Hugo, Minnesota. This site contains <br /> 143,748 square feet. <br /> PROPERTY IDENTIFICATION NUMBER AND LEGAL DESCRIPTION <br /> The subject property is legally described as follows: <br /> Lot 1, Block 1,Bald Eagle Industrial Park 5`h Addition, Washington County, Minnesota. <br /> The Property Identification Number is: <br /> 30-031-21-41-0057 <br /> CENSUS TRACT <br /> 702.02 <br /> REAL ESTATE TAXES AND ASSESSMENT <br /> 2008 Assessor's Market Value: 2009 Payable Tax: <br /> Land: $251,800 Real Estate Tax: $60,454.00 <br /> Building $1,793,500 Assessments: -0- <br /> Total $2,045,300 Total $60,454.00 <br /> HISTORY <br /> County records indicate that the subject property is currently in the name of R A Pearson <br /> Associates, LLC who acquired the property(vacant land) in December of 2005 for$166,768. No <br /> other recorded transfers of ownership have occurred within the past three year period. The original <br /> cost statement in 2006 indicated a construction cost for the proposed improvements at that time of <br /> $3,495,057 exclusive of land. This reflects a cost in 2006 of$77.67 per square foot. <br /> 15 <br />