HomeMy WebLinkAboutTerzo & Bologna - North Parcel of the AMLI Old Town Carmel Apartments kr
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Real Estate Counselors . BOLOG ll Cand Appraisers
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M.Brad Beerbower,MAI
Raymond V.Bologna,CRE,MAI March 31, 2006
Kevin J.Hartman,MAI
Brenda D.Makarov,MAI
Frederick C.Terzo,CRE,MAI,AICP
Brian P.Beaty,MAI Mr. Les S. Olds, AIA
Erick P.Landeen,Mal
Gregory B.Martin,MAI Director of Redevelopment
Carmel Redevelopment Commission
One Civic Square
. Carmel, IN 46032
RE: Appraisal Proposal: Leased Fee of the
Land Underlying the North Parcel of the
AMLI Old Town Carmel Apartments
Dear Mr. Olds:
This appraisal proposal follows discussions with you and Karl Haas
concerning the scope of the assignment.
I understand that the subject land comprises approximately 2.17 acres
bounded on the north by Main Street and on the south by 1s`Street
SW. The parcel is now improved with the north apartment/retail
building which is part of the AMLI Old Town Carmel complex.
Further,I understand that the subject parcel is covered by a ground
lease between the City of Carmel Redevelopment Commission, as
landlord and AMLI Residential Properties, L.P., as tenant.
The value to be appraised is the leased fee of the land. I understand
that the leased fee might be offered for sale.
8606 isonville Road
Su We can deliver a complete appraisal in a self-contained report in
Suite 205 p pP P
Indianapolis, IN around three weeks from notice to proceed. We will provide three
46250 original appraisal reports. The fee for this engagement will be $4,000.
317-849-9925
FAX: 317-849-9978
www.terzo.com
Email: indyquotes @terzo.com
OFFICES IN:
Indianapolis,Indiana
Detroit,Michigan
Mr. Les S. Olds, AIA
March 31, 2006
Page Two
Please let me know if you would like me to schedule this appraisal.
Thanks for considering this firm.
Sincerely,
Fre!Brick C. Terzo; E, i AI, AICP
for Terzo & Bologna, Inc.
FCT:j dw
TERZOry
BOLOGNANc. Rea Estate Ccunsebrs and,miners
CITY of`*CARW1EL
JAMES BRAINARD, MAYOR
April 3, 2006
Frederick C. Terzo, CRE, MAI, AICP
Terzo & Bolgna, Inc.
8606 Allisonville Road
Suite 205
Indianapolis, IN 46250
RE: Notice to Proceed
Appraisal: Leased Fee of the Land Underlying the North Parcel of
The AMLI Old Town Cannel Apartments
You are hereby notified of our authorization to commence work, pursuant to the above
Project and attached Quotation dated March 31, 2006.
It is our understanding that delivery of the complete appraisal will be around three weeks
from this notice. We appreciate your assistance in this matter.
Sincerely,
Sherry Mielke, Director of Finance
for Les Olds, Executive Director
Carmel Redevelopment Commission
ONE CIVIC, SQu,\In:, CARhirl.. IN 46032 Orrice. 317.571.240:1, FAX 317.844.3498
EMAIL jbrainarcl a ci.carmel.in.us