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Appraisal Research Counselors has extensive experience with complex projects that require a unique approach in problem solving ranging from special use in nature to large-scale redevelopment analysis.

The US Army Corp of Engineers retained our services to complete a comprehensive analysis of the redevelopment potential of Fort Sheridan along Lake Michigan as part of the base closure process. Our involvement required not only working with other disciplines such as land planners and historic preservation experts but with elected officials in surrounding municipalities affected by the redevelopment. We provided testimony at the Pentagon regarding our opinions with the project life spanning over several years. Real estate issues included historic preservation easements, environmental contamination and deed restrictions for site use.

Lake Park Crescent, the former Lakefront public housing high rises along Lake Michigan on Chicago’s south side, being developed by Draper & Kramer will include both rental and for sale residential product. This is one of the largest redevelopments of public housing in the United States and will include a mixed income population. Our market studies and appraisals were used by The Habitat Company and developer in estimating the depth of the market and attainable price levels for the project.

The University of Chicago, as part of their regular internal planning process, retained our services to estimate the market value of many of their assets in the Hyde Park neighborhood. The project involved a broad range of properties including shopping centers, industrial buildings, apartment buildings and single-family residences. In total, over 100 properties were analyzed.

Appraisal Research Counselors has completed a number of assignments related to Corporate Headquarter facilities throughout the United States. These properties present unique challenges – particular those located in small markets where estimating demand and functional issues is problematic as they are often the dominant employer in the market. We have worked with both the ownership entities as well as local governmental offices in estimating value for ad valorem tax purposes.

With over 20,000 acres of ocean front property in northern California, the Bixby Ranch project was affected by numerous restrictions for development at the local, State and Federal levels. The US Air Force retained our services to estimate the value of an open space easement to be acquired in conjunction with launching missiles into polar orbits from the adjacent Vandenburg Air Force Base. Numerous development scenarios were analyzed with multiple uses including luxury residential development (incorporating construction of a water desalinization plant), championship golf courses and areas retained for environmental preservation.



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