Find answers to common questions about our appraisal services and professional experience.
At Second City Appraisal, we know how important an accurate property valuation is when you’re making financial, legal, or real estate decisions. Whether you need an appraisal for a commercial property, estate settlement, tax appeal, or legal proceeding, we provide reliable information and professional guidance. We’ve answered some of the most common questions about our services, experience, and appraisal process below.
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What real estate appraisal services do you offer?
We provide a wide range of real estate appraisal services, including commercial appraisals, land appraisals, tax appeal appraisals, estate appraisals, divorce appraisals, rent comparability studies, and litigation support appraisals. We tailor our valuation services to your property’s characteristics and the intended purpose of the appraisal.
What areas do you serve?
We’re based in Deerfield, Illinois, and provide professional real estate appraisal services throughout Chicago and the rest of Illinois. Our familiarity with local property markets helps us deliver valuations supported by relevant market data.
Where is your office located, and what are your business hours?
Our office is located at 420 Lake Cook Road, Suite 116, Deerfield, Illinois 60015. We’re open Monday through Friday from 8:30 AM to 5:00 PM. You can schedule appointments Monday through Friday between 9:00 AM and 5:00 PM.
How can I schedule an appraisal or request a quote?
You can contact us at (224) 804-0300 or complete the Request A Free Quote form on our website. Let us know what type of property you need appraised and why you need the valuation. We’ll help you determine the next steps.
Why should I choose your company for real estate appraisal services?
We’re a locally owned, family-operated business with three generations of appraisal expertise and more than 25 years of combined industry experience. We combine deep market knowledge with modern technology to produce detailed, reliable appraisal reports. Our goal is to provide accurate valuations and dependable service for every client.
What professional credentials do your appraisers hold?
Andrew Richter is an MAI designated appraiser, the highest designation in the appraisal industry. Andrew also has the CIAO designation from the Illinois Property Assessment Institute. Our licensed appraisal professionals are members of respected industry organizations, including the Appraisal Institute, the Illinois Coalition of Appraisal Professionals, and the Illinois Property Assessment Institute. Our leadership has also served on the Board of Directors and Executive Committee of the Chicago Chapter of the Appraisal Institute and served as president of the Illinois Association of Certified Real Estate Appraisers in 2015 and 2017.
Do you appraise both residential and commercial properties?
Yes! We provide appraisal services for residential and commercial real estate. Our residential work includes single-family homes, condominiums, apartment buildings, and vacant residential land. We also evaluate numerous commercial property types, from office buildings and retail centers to industrial facilities and specialized properties.
Do banks and lenders accept your commercial appraisal reports?
Yes. We prepare commercial appraisal reports according to recognized industry standards for use by banks, financial institutions, mortgage lenders, attorneys, and courts. If you’re requesting an appraisal for financing, we recommend confirming your lender’s specific requirements before scheduling.
What should I expect during the real estate appraisal process?
We begin by learning about your property and the purpose of your appraisal. Our team reviews relevant property information, examines current market conditions, and applies appropriate valuation methods. We then prepare a detailed narrative-style report explaining our findings. Throughout the process, we’ll communicate with you and request any documentation needed to complete the valuation.
What types of commercial properties can you appraise?
We appraise a broad range of commercial properties, including hotels, office buildings, banks, factories, shopping centers, grocery stores, restaurants, warehouses, medical and dental offices, nursing homes, golf courses, and subdivision developments. Each commercial appraisal considers the property’s characteristics, market conditions, and intended use.
What documents do I need for a commercial property appraisal?
We’ll typically need the property address and information about why you’re requesting the appraisal. Depending on the property, we may also request rent rolls, income and expense statements, building plans, and other relevant documents. Having these materials ready can help us move through the appraisal process more efficiently.
What types of residential properties do you appraise?
Our residential appraisal services include single-family homes, condominiums, and apartment buildings. We evaluate each property’s characteristics alongside relevant market information to develop an objective opinion of value.
What types of land can you appraise?
We appraise vacant residential lots, commercial development properties, agricultural land, residential subdivisions, and investment parcels. Our valuations consider location, parcel characteristics, zoning, permitted uses, and comparable land sales.
Do I need a land survey before requesting an appraisal?
Not necessarily. You can generally begin the appraisal process without a current land survey. However, an existing survey can be especially helpful when evaluating irregularly shaped parcels, large tracts, or properties intended for development. We’ll let you know if we need additional documentation.
Can you help with property tax appeal appraisals?
Yes. We prepare tax appeal appraisals and property tax assessments to help property owners challenge valuations they believe are inaccurate. Our reports provide an independent assessment of property value supported by relevant market evidence. This information can help you present your case during a property tax appeal.
Do you provide appraisals for estate planning and settlement?
Yes. Our estate appraisal services help establish property values for inheritance planning, estate settlement, and related tax purposes. We understand how important reliable documentation is in estate matters, and we prepare detailed reports to support the valuation process.
Can you appraise property during divorce proceedings?
Yes. We provide independent divorce appraisals to help establish fair market value during divorce and property division proceedings. Our objective valuations give attorneys, spouses, and other involved parties reliable information when discussing real estate assets.
What are litigation support appraisals?
Litigation support appraisals provide independent property valuations for legal disputes, court proceedings, and formal negotiations. We prepare detailed, defensible reports supported by appropriate valuation methods and market research. These services help attorneys and their clients better understand property values in real estate matters.
What types of properties qualify for rent comparability studies?
We conduct rent comparability studies and market rent surveys for apartment buildings, office properties, retail spaces, industrial facilities, and mixed-use developments. We also provide HUD Rent Comparability Studies for applicable income-producing properties. These studies evaluate relevant rental market information to help establish appropriate market rent levels.
Can a rent comparability study help with lease negotiations or disputes?
Yes. A professionally prepared rent comparability study provides objective market information to support discussions about rental rates. Whether you’re negotiating a new lease, reviewing an existing agreement, or addressing a rental dispute, our findings can help you make more informed decisions.