Chicago Commercial Appraisers

Commercial real estate appraisers

Free Quote: (312) 818-5947

We’re the #1 commercial real estate appraisal firm in Chicago for individual property owners and their advisors Certified commercial appraisals, Chicago, IL

There are only two types of commercial real estate appraisal companies. Not knowing which type you’re talking to may result in a bad appraisal, costing you time and money—I’ll explain why in a moment.

For now, let’s look at the two types of commercial appraisal companies:

  1. Those that primarily serve institutions (such as banks and mortgage companies).
  2. Those that primarily serve individual property owners and their advisors.

We’re the latter of the two.

So, if you are a big traditional bank, hedge fund, or mortgage company, we are not the right firm for you. We simply prefer not to work with these types of organizations.

You’ll understand why as you read on.

However, if you are a consumer who needs an appraisal of commercial property, or you’re an attorney, accountant, financial planner, or realtor representing a property owner, you’ve come to the right place.

If You’re Wondering Why This Matters to You, Here’s Why…

We are not an appraisal-factory for banks and mortgage companies

Since most appraisers—from the local solo operator to the big national firm—rely on banks and mortgage companies for most of their appraisal orders, these institutions naturally become their most important clients.

This is bad for you for at least two reasons:

  1. Because these appraisal firms consistently get dozens of orders every month from each institutional client, your business frankly means very little to them—as a result, you can expect poor service (unreturned phone calls, missed deadlines, and an unreliable appraisal).
  2. And because these appraisal firms do most of their work for [1] banks who knowingly sacrifice quality and accuracy for an ultra-fast turnaround at a rock-bottom price, they have no choice but to become an assembly-line-like factory producing low quality, often inaccurate appraisals.

To maintain our service and quality standards, as well as our independence, we avoid working with institutional clients such as banks and mortgage companies.

Instead, we prefer to service individual private clients like you, as well as a host of legal, financial, and tax professionals and their individual clients.

As a result, most appraisals we do are used for a variety of personal, legal, or tax-related issues, rather than mortgage financing. That’s why we have better familiarity with your needs and situation.

Also, we haven’t developed the bad habits that come from constantly prioritizing speed and cost over quality and accuracy—habits that inevitably result in low quality, unreliable appraisals.

[1] You would think that banks and other mortgage lenders would care more about the appraisal being accurate. The truth is that they don’t, and here’s why.

Firstly, most commercial lenders give themselves a built-in margin of error of at least 20%, by lending only 80% of the property’s appraised value. That may work for them but can you afford to hire an appraiser whose value is wrong by 20% or more?

And secondly, most (nearly all) new mortgage loans are quickly sold into the secondary mortgage market – this means that the bank which originally made the loan isn’t on the hook if the loan ever defaults.

And if the bank appraisal was wrong and the property turns out to be worth far less than they thought when they made the loan, it’s not their problem anymore.

This is why banks only care about the speed and cost of an appraisal, at the expense of accuracy – because they just want to sell as many loans as possible, as quickly and cheaply as they can.

We never use trainee appraisers—all our appraisers have at least 15 years’ experience

Want to know an industry secret?

Many appraisal firms use inexperienced appraiser trainees, also known as ‘licensed appraiser assistants,’ to do your appraisal start to finish—with little or no supervision.

Upon completion, your appraisal is basically rubber-stamped with the signature of the senior appraiser you thought you hired to do the job.

Why? Because trainees work cheap—and sometimes they even work for free. This is how many appraisal firms cut costs to maximize profit, at your expense.

It’s a disturbingly common practice.

You see, trainees are supposed to be apprentices. But it takes years of oversight and hand-holding to correctly learn the trade and earn an appraisal license—most firms can’t be bothered with that.

We never use trainees or licensed appraiser assistants in any capacity. All our appraisers are IL State Certified and have at least 15 years’ experience.

When you work with us, you’ll have one highly skilled and experienced appraiser who works on your appraisal all the way through, from start to finish.

We guarantee our work

Most appraisers don’t. Having read the points above, you can probably understand why.

Knowing that your appraisal will not be challenged or rejected is as important as knowing it is accurate.

We guarantee your appraisal report will meet the standards and requirements of the authority you’ll be submitting it to (court, IRS, or government agency), and be accepted by that authority.

Superior service, with a personal touch

When you hire a company for an important job, you should expect to be treated like an important person.

We know from experience this is not the case at many appraisal firms—where institutional clients are doted on, while individual property owners like you are pushed to the back of the line and unapologetically treated as less important.

Our clients have our office numbers, cell phone numbers and personal e-mail address. We make ourselves available day and night. When you call, we answer. Not a secretary or a pushy salesman.

We offer you a unique level of access and commitment—and we can usually do so at a lower rate than bigger firms, because we don’t have to charge extra to cover bloated operational costs.

Call now for a FREE quote:
(tap here to call on a mobile)
(312) 818-5947

Give us a call—it’s the easiest way to get answers to your questions including info on appraisal pricing and timing. So why not give us a call now—during normal business hours, we always answer.

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