- 4 -
in the corporation. Thereafter, petitioner acquired eight
other pieces of real estate. From 1977 through January 24,
1989, petitioner disposed of 12 of those properties. From
January 24, 1989, through 1994, petitioner neither
purchased nor sold any real property. Set out below is a
schedule of petitioner's acquisitions and dispositions of
real property:
Char-Lil Corporation
Schedule of Acquisitions and Sales of Real Property
Date Cost or Date Sale Accum.Years
Description of Real Property Acquired Other BasisSold PriceDepr. Held
613 Lee, Lawton 11/01/77$30,100 7/29/83$40,000$13,6786.5
509 Lee, Lawton 11/01/7725,925 1/02/8644,52921,9719.0
602 - 616 Lee, Lawton11/01/77300,995 9/29/86500,000100,6789.5
2
2116 Fort Sill Blvd., Lawton11/01/77331,756 -- 225,02318.5
2
2112 Fort Sill Blvd., Lawton11/01/77144,428 -- 86,84918.5
1108 Lincoln Blvd., Lawton
2
515 Lee Blvd., Lawton11/01/7728,000 -- 28,00018.5
2
1207 S. 6th, Lawton11/01/7710,000 -- 10,00018.5
Commercial Property, Fletcher2/01/7753,155 9/01/82150,00016,7925.5
626 D Ave., Lawton7/01/81116,525 8/19/82175,0004,729 1.0
608 D Ave., Lawton7/01/81115,000 9/01/82175,0004,500 1.0
802 S.E. 3d, Lawton3/01/8212,500 7/01/8527,500 3-0-3.0
802 S.E. 3d, Lawton3/01/82163,388 12/15/8785,00074,4845.5
45th & E. Gore, Lawton4/01/83315,743 1/24/89230,000126,4605.5
Sheridan & Hoover, Lawton12/01/83212,845 1/24/89155,00063,7985.0
6302-04 Cache Rd., Lawton11/01/77282,488 10/25/88250,00082,16411.5
38th & Lee (lots), Lawton1/01/8623,250 5/01/8630,687 3-0-0.5
1Date of incorporation. Cost basis represents sec. 351 transfer from majority shareholder.
2Property was owned by petitioner as of Dec. 31, 1994.
3Undeveloped land.
The following is a brief description of Mr. McKelvey's
and petitioner's activity with respect to each of the above
properties.
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Last modified: May 25, 2011