Find out what that piece of land is worth.
A vacant land appraisal is a professional assessment of the market value of land that has no buildings or significant improvements on it. Because the property is essentially a blank slate, the appraisal will focus on factors that are different from those used during a traditional home or commercial building appraisal.
When you hire us at Second City Appraisal to conduct a vacant land appraisal, there are several things we will evaluate:
- We will look at the land’s proximity to utilities, roads, schools, commercial areas, and other desirable features.
- We will identify what can legally be built on the land based on zoning and permitted uses.
- We will analyze the topography and physical characteristics of the land, including the soil quality, slope, access, drainage, flood zones, and any environmental restrictions.
- We will look at whether water, sewer, electricity, and gas are available or need to be brought in.
- We will analyze comparable sales of recently sold parcels of similar size, location, and use.
A vacant land appraisal can give you a closer look not only at the parcel’s overall value, but the traits and characteristics that make up what the land is worth. We will provide you with a comprehensive appraisal when you want to sell or buy a piece of land in the Chicago, Illinois area.
We would be happy to tell you more about what a vacant land appraisal includes. Contact us today to order your appraisal or to learn more.