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that is owned by Dr. Schwalbach and his wife (collectively, the
Schwalbachs). The building's lower level has a suite of rooms
that has been let since 1974 to an orthodontist named David
Nelson (Dr. Nelson). These rooms, totaling 1,200 square feet,
include a laboratory, a patient treatment room, and a doctor’s
office. The lower level has other rooms that have been let to
petitioner since at least 1974. These rooms, totaling 1,200
square feet, include an x-ray room, an analysis room, and a
doctor's office. Petitioner has let the building's upper level
and the building's parking lot since at least 1974. Rooms on the
upper level, which measures 2,400 square feet, include seven
patient treatment rooms, a laboratory, and an x-ray room. The
parking lot holds approximately 25 to 30 cars and is accessible
to the upper level by way of a handicap ramp.
In 1991, when Dr. Schwalbach was petitioner's sole owner and
Dr. Knotek was an associate, they discussed the possibility of
owning petitioner's business jointly. During their discussions,
which focused primarily on the value of a 50-percent interest in
petitioner's business and the amount of rent that petitioner
would have to pay the Schwalbachs for use of the River Falls
building, Dr. Schwalbach and Dr. Knotek sought advice from a list
of people that included an attorney, an accountant, a specialist
on business valuation, and other dentists who had established
relationships similar to the relationship sought by Dr.
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Last modified: May 25, 2011