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Burnet <br />ST LOUIS PARK OFFICE <br />7035 WAYZATA EIOULEVARO <br />MINNEAPOLIS MN 55426 <br />(612)546 3200 <br />2/20/84 <br />TO WHOM IT MAY CONCERN: <br />I have been asked to give my opinion regarding the fair market value <br />of the lot and proposed improvements thereon legally described as follows: <br />Lot 10 and that part of Lot 9 lying Northwesterly of <br />a line running from a point on the Northeasterly line <br />of said lot 9 distant 15 feet Northwesterly from the <br />Easterlv corner of said Lot 9, all in Block 3, "Beryquist 6 <br />Wicklund's Park, Hennepin County, Minnesota." <br />I have been selling real estate in the Lake Minnetonka area for over <br />8 years, including a number of homes and lots in the Mound -Orono area. <br />Following are my opinions as to a fair market value of the lot and the <br />proposed home based on the current real estate market: <br />Estimated construction costs per square foot. <br />'050.00 X 1176 ft. $58,800.00 <br />$30.00 X 1176 ft. • $35,280.00 <br />Estimated Fair market <br />of lot = $10,000.00 <br />Total -PO4,080.00 <br />I used $50.00 Per square foot for the upper level construction costs and <br />$30.00 per square foot for the lower level construction costs as these figures <br />are neither bargain basement nor opulent but somewhere in between. Further <br />these fiqures appear to reflect the type of construction which the contractor <br />has in mind. <br />A susslu#AR• of <br />Mf Rpilt LVNCN Rl AL1V ASSOC MISS INC <br />