Case Studies

PRS Consulting represented a major oil company in determining what constituted “ real property” for the basis of equitable assessment purposes. A settlement was reached that represented one of the largest settlements in Illinois history.

PRS Consulting successfully represented a golf course owner in persuading a jury that the Highest and Best Use was re-development with a Home Depot. The condemnor’s claim was that because the land was zoned “Open Space”, that use constituted the highest and best use. The resulting award of $25 million was $18 million greater than the original offer.

PRS has assisted the United States Government in determining the Fair Annual Rental for a number of facilities including industrial warehouses, courthouses, office buildings, and parking facilities.

Worked with the Cook County Assessor’s office and the owners of a major casino in attempting to determine equitable assessment for Ad Valorem Taxation. Met to discuss value of real estate as well as intangibles and going concern value.

PRS Consulting represented the City of Chicago in valuing a vacant, former manufacturing facility that is a Super-Fund site. Researched the various alternatives for highest and best use as well as impacts on the abutting residential community.

PRS is assisting in a landmark case in which a number of municipalities are attempting to take an existing water delivery system from a private company. The pipeline covers over 30 miles from the source of Lake Michigan water to the far southwest suburbs.

Mr. Thouvenell testified in a hearing on the reasonable probability of re-zoning a vacant parcel from Planned Manufacturing District to high density residential. Citing development activity in the surrounding neighborhood and the various factors required by the law, PRS was successful I assisting the property owner’s attorneys in convincing the judge that such a probability existed.