SERVICES

PROPERTY VALUE DETERMINATION FOR:

Lending
Condemnation
Legal Settlements
Acquisition-Disposition
Taxes
Partial Interest
Eminent Domain
Litigation

Our Most Common Assignments

When our firm started our bread and butter assignments revolved around commercial industrial real estate. Our most common assignments were apartment buildings. We still do numerous appraisals like this today. However, due to the volume of calls concerning problematic symbiotic properties needing valuation our assignment base grew. We became very competent with the property type. We have provided valuation consulting for nursing homes, landfills, gas-station convenience stores, car-wash facilities (both wand and automatic), golf-courses, hotel-motels and a number of other properties whose operations are dependent on personal property and/or real estate. These properties are dependent on generating business or going concern value (MVTAB). From the start of 1986 training for these assignments came from valuing sewer-water treatment facilities, utility production, and power plant appraisals which later branched into landfills and their bio-gas plants. This was naturally followed by both aerobic and anaerobic digester systems. Digesters had a 6 percent construction growth rate through the depth of the Great Recession and over the last decade. While these properties may seem totally unrelated, regularly, they all have something in common. When in full operations they commonly have three assets having three independent values. These are the values of the real estate, MTS and MVTAB. Further, these independent values are generally enhanced when sold in combination. A simple tunnel, without automatic car-wash equipment, is typically less valuable than a fully equipped profitable going concern. If all assets named above are thought of this way, readers will understand there is a symbiosis between the real estate, its operational personal property and its overall business value as a going concern.

We Literally Wrote the Book On it

Currently, Vertin Valuation Services holds the world record for most appraisal and consulting assignments in aerobic and anaerobic digester systems. Mr. Vertin wrote The Appraisal of Methane Disgests and other Biogas Powered Generating Systems. He first started appraising utility facilities, which included many power plants under Kuehnle and Associates, who was absorbed by Price and Associates in the mid-1980s. The point is essential due to the fact Walter R. Kuehnle, MAI was the Chair of AIRE (now AI) who was personal friends with Arthur Rubloff, wrote the Cook County property tax classification ordinance but most importantly authored and edited the 1st through the 8th editions of The Appraisal of Real Estate (the most essential valuation guides in US history). Now on its 14th edition, AI estimates it has been read by over 1 billion students worldwide. Long before national companies, Mr. Kuehnle had nearly unlimited corporate clients, some of which were, Peoples Gas, Commonwealth Edison, and dozens of larger US Cities where we cut our teeth on sewer-water treatment, power, and other utility plants. Later, many started removing lead pipes or stopped using coal in an effort to be more environmentally friendly. During this transition branching off into valuing alternative energy plants appeared the next logical step. Our main focus started being Biogas Generating Production Systems (BGPS). You may know them by a common product within this category called anaerobic digesters.

In the life of valuation theory, symbiotic properties are a relative newcomer. While utilities have been around for over 100-years most other venues started taking hold in the 1950s through the 1980s and changes within these venues are constantly transitioning. Just look at the gas-stations. Now they provide, car-washes, fast foods, with some that even have shopping centers. Users of valuation consulting services need someone with experience in all venues understanding what is important to buyers and sellers.

Besides having the typical experience with industrial, commercial, retail, office and apartment buildings we have completed assignments involving the following properties:

  • Automotive centers/ Car dealerships
  • Banquette halls
  • Bowling allies
  • Brewers (both standard and micro)
  • Camping parks
  • Car-wash (wand and automatic)
  • Cell Phone and other Communication Towers
  • Cemeteries (both human and pet)
  • Churches and Schools
  • Country or other type clubs
  • Crematoriums (both human and pet)
  • Equestrian centres
  • Funeral homes including mortuaries
  • Gas-station convenience stores
  • Go-cart and water park facilities
  • Golf-courses
  • Hotel-motel facilities
  • Landfill and biogas production facilities
  • Lumber (both mills and yards)
  • Marinas
  • Medical facilities including hospitals
  • Methane Digester Systems
  • Miniature golf-courses
  • Nursing homes
  • Railroad right-of-ways
  • Riparian rights
  • Senior living facilities
  • Sewer-water treatment facilities
  • Stone quarries and mineral rights
  • Storage facilities
  • Theaters (both performance and movies)
  • Trailer-mobile home parks
  • Utility production and power plant

There are commonly four market users for the majority of the services we provide. While there are others such as acquisition disposition markets, regularly these fall within lending. Title and insurance work issues are most commonly related to prospective value issues regarding catastrophes and/or easements and could be a category of work on its own. We have done this work for some time guiding both corporate and private owners. With this said most other work falls within the following.