Commercial Property Appraisal Chicago 

HomeCommercial Property Appraisal Chicago 

Commercial Property Appraisal Chicago

For developers and business owners throughout Chicago and the surrounding areas, commercial property appraisal Chicago is an important part of buying and selling property, development, and business growth and opportunities. At Allstate Appraisal, our team specializes in commercial property appraisals and has experience working in Chicago and the surrounding areas. To learn more about our services and how to get started, reach out to us today. 

What Is a Commercial Property Appraisal?

The purpose of a commercial property appraisal is to find the value of real commercial property using a set of approved industry methods. Commercial property appraisals are unbiased and can serve as an official appraisal for legal or financial purposes. Commercial property appraisals are done to determine the value of commercial spaces, such as office builds, retail spaces, or multifamily housing units. 

Why Are Commercial Property Appraisals Necessary?

There are numerous reasons why you may require a commercial property appraisal as a buyer, a seller, or an owner of commercial property. These reasons include, but are not limited to:

  • You are planning to sell your commercial property and want to determine an appropriate price point
  • You are purchasing a commercial property and an appraisal is required by the loan underwriter
  • You disagree about the property tax assessment on your commercial property and wish to challenge it by saying the property is actually valued at less
  • You are exit strategy planning
  • You are filing an insurance claim for environmental/weather damages to your property and need to know the property’s value
  • You are collecting information about the value of the property to inform another decision, such as a decision made by a planning board or zoning committee 
  • You want to determine potential gift or inheritance taxes on the commercial property

If you require a commercial property appraisal for any of the above reasons or another reason, such as to inform a business decision, our team at Allstate Appraisal can assist you.  

The Commercial Property Appraisal Process with Allstate Appraisal

We have a six-step commercial appraisal process that allows us to thoroughly and accurately serve clients who have an interest in a wide range of commercial property types. This process begins with receiving your order and then assigning the right appraiser for the job based on property type, appraiser experience, and client requests. From there, we begin the appraisal process, keeping you informed of status updates. After our appraiser submits a draft report, it will be reviewed by the Review Appraiser, and sent back for the correction of any deficiencies. Then, it will be reviewed again. This version of the report will be reviewed and signed by the Chief Appraiser and submitted to the client. Finally, it’s important to note that we have a robust rebuttal process in place in the event that the appraisal is challenged.

Call Today to Learn More

For services for a commercial property appraisal Chicago that you can count on, call Allstate Appraisal today. We have a strong reputation for excellence and prioritize the customer experience. Reach us today to learn more.

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