VALUATION WITH PURPOSE

A Primer to Capitalization Rates Post COVID-19

JSO Valuation Group, LTD. is a commercial real estate appraisal firm located in the Chicago suburb of Evanston, Illinois. Over the past 30-years we have completed appraisal assignments of vacant, proposed and improved commercial, multi-family, and industrial properties.

We value specialty type developments, such as subdivision lot analysis, communication towers, municipal recreational park land, and much more. The values have ranged from hundreds of thousands to several million dollars; from one tenant to large, multi-tenanted office towers, industrial, and retail buildings. Our valued and diverse clients use our appraisals in a variety of ways to make critical and informed decisions. Our services equip those in industries such as financing, insurance, estate, feasibility analysis, and real estate tax appeal.

We specialize in traditional and niche property types. Our experience with the latter include low-income cooperative housing from Boston to Seattle, self-storage warehousing, convenience stores, to name just a few.

1

Planning & Analysis

Develop scope of work that works for you
Collect data on site, including all assets
Collect data on surrounding area (county, city, neighborhood).

2

Studies & inspection

Analyze all relevant data
Conduct appropriate studies (drive time, marketability, best use)
Develop proper value of land
Application of correct approach (income, sales comparison, cost)

3

Your report & our continued support

Provide defined value of property/site
Explain clearly our professional reasoning
Provide professional consultation and testimony when you need it

THE JSO APPROACH

appraisals with targeted analysis

based on your specific needs

WHAT WE DO

expert appraisals

OFFICES

Multi-tenanted, low, medium, and high-rise office buildings. We value millions of square feet of office accommodation per annum.

Portfolio, financing, etc.
Business district or suburban locations
Corporate headquarters
Medical office buildings
Assisted living
Condominium office suites
Office flex buildings

INDUSTRIAL

We take on unique industrial assignments and provide tailored solutions based on your needs

Manufacturing
Cold storage
Warehouse
Cross-dock buildings
Self storage
Marinas
Special-use buildings
and more

RETAIL

We are experienced in valuing single-store facilities and large shopping plazas.We specialize in land development and sub-division analysis.

Strip centers
Malls
Department stores
Repurposed commercial sites
and more

GROCERY

& CONVENIENCE

We specialize in appraising facilities ranging from 800 sq. ft to large, mega-chain supermarkets.

Gas stations
Convenience stores
Pharmacies with attached markets
Grocery stores
Co-op food markets
Supermarkets

THEATERS

& CINEMAS

New, old, and repurposed

Move theaters and cinemas
Live performance theaters
Concert halls
Comedy and performance clubs
Outdoor music venues

RECREATIONAL FACILITIES

We value stand-alone structures like pools and entire sports complexes, new and old

Tennis courts
Basketball courts
Multi-use sports complexes
Stadiums
Swimming pools
Waterparks
and more

MULTI-FAMILY RESIDENCE

Two-flats to 500-plus units. There are so many reasons as to why we value multi-family housing, but along with financing, insurance appraisals tops the list. JSO specializes in insurance value as a check on the actual insurance companies themselves.

COOPERATIVE HOUSING

JSO Valuation Group has valued both "Limited Equity" and "Full Equity" cooperative housing complexes. We have also valued non-performing assets to establish some type of path forward for the lender. Some of the unique developments have been cooperative mobile home sites with values exceeding $100 million.

MOBILE HOME

PARKS

Appraisals for investors, individual owners and management companies. This is a property sector that has changed over the last 20-years and the degree of sophistication in management and operations has also changed almost all for the better.

PLACES OF

WORSHIP

Single structure or campus

VARIOUS UNIQUE BUSINESSES & SITES

Car wash
Auto dealership
Banks
Funeral homes
and more!

VACANT LAND

& MORE

JSO's team of expert appraisers are ready to take on new and challenging facility types.

we provide specialized valuations for a wide variety of clients and situations . . .

REAL ESTATE TAX APPEAL

JSO provides our clients with expert appraisal reports that give them a leg up during the real estate tax appeal process. We work with local, trusted law firms to save our clients money and combat Assessor estimates that are outdated.

We appraise properties ranging from a few thousand to a few million square feet, including "Loop" high-rise office buildings, suburban big-box stores, shopping centers, industrial buildings, and a variety of other property types. These buildings have ranged from a few thousand square feet to a million square feet. We work throughout Cook County, the Collar counties, and throughout the lower 48. Potential tax savings vary depending on age, condition, and use of the property.

The JSO team expertly revalues from a cost approach point of view. We have seen time and time again how replacement costs imposed by insurance companies are too high, inaccurate, and void of proper analysis. JSO provides clients with consultative reports that drilldown, component by component, the exact cost to replace the property.

We work with trusted and proven insurance brokers who take our appraisals into negotiation alongside the often-outdated costs regulated by insurance companies. We have applied our expert cost analysis to a variety of property types, and have aided our diverse pool of valued clients.

analysis for

individual investors

joint-ventures

INSURANCE COST ANALYSIS

real estate mgt. companies

FINANCING

Appraisal for financing is one of our specialties. We understand the ins and outs of Commercial Mortgage Backed Securities (CMBS) and various other traditional financing methods. We have prepared expert appraisals for Life Companies such as Artesia Mortgage Capital Corporation, Business Men's Assurance Company, and Royal Neighbors of America.

JSO has appraised hundreds of office buildings, shopping centers, and industrial buildings—it is one of our hallmarks. We also specialize in valuing cooperative housing for blanket loans, whether they’re limited equity or full equity developments. Co-ops come in all shapes and sizes from the ultra-luxury high-rise apartments to the standard town home housing developments commonly built in the 1960s.

We also have crafty experience with self-storage valuation and other unique and challenging sites.

REAL ESTATE TRUST

We work with Real Estate Investment Trusts (REITs) for annual or bi-annual valuations of properties in various markets, including office, industrial, and multi-family residential. We have travelled coast to coast to provide exceptional and trusted work.

Are you looking for a professional appraisal partner that will go the extra mile?

For decades JSO has provided strong value-add to our clients, even in those times that are most trying.

Our team compiles reports that exceed IRS guidelines for estate tax requirements.

We understand the intricacies of estate valuation that involves multiple owners and parties of interest.

ESTATE VALUATION

JSO offers expert consultation and testimony

we're the experts so you don't have to be.

we help our clients understand their options in a variety of situations

& help them understand the ins and outs of appraisal reports.

Real State Tax appeal

Divorce/Family Law

Easements

Bankruptcy/Foreclosure

Partnership Disputes

Landlord/Tenant

MEET THE TEAM

Nick Hilla

Director of Consulting and Appraisal Services

Nick is an experienced real estate professional with proven expertise in leasing, property management, and real estate valuation. His impressive financial experience, gained through real estate valuations, market studies, and feasibility studies, compliments his unyielding work ethic.

Nick is a Michigan State University graduate, earning his Bachelor of Arts in Finance with a focus in Hospitality Real Estate & Development. Nick has over ten-years of experience in the real estate industry and enjoys taking on the most unique appraisal needs.

Nick is an Illinois State Certified General Appraiser, and is a Candidate for Designation (MAI) with the Appraisal Institute.

John O'Dwyer,

MAI, MRICS, AL-GRS

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Founder and President

John's path to forming JSO began in the early eighties. He graduated from the Dublin Institute of Technology and was also awarded a degree from the University of Dublin, Trinity College 1984. John majored in real estate finance, town planning, and environmental economics. He soon after began working as a senior appraiser in New York (’84-’87). He then rooted in Chicago and excelled as a senior loan appraiser (’87-’89).

In 1989 John took the leap and officially began his own appraisal company, JSO Valuation Group, Ltd. His work ethic and leadership has fostered a talented team of appraisers, all of whom pride themselves on producing industry-leading work. Since 1989 John and his team have provided their clients with comprehensive, relevant, and specialized valuation services.

John is an Illinois State Certified General Appraiser, Designated Member of the Appraisal Institute (MAI), and a Member of the Royal Institute of Charter Surveyors (MRICS), General Practice Division.

Christine Schumacher

Director of Operations

Christine uses her 15-plus years of real estate and retail experience to ensure fluidity with JSO's valued clients.

Christine started with JSO Valuation Group in March 2008. She came with eight years of proven managerial experience. Delivering outstanding customer service has always been an essential part of her work day. As Director of Operations, she is responsible for all office procedures, and she uses her organizational skills to ensure smooth operations in a busy work environment.

She embodies the team spirit and energetic work ethic of the JSO team and is ready to help you with any valuation and appraisal need that you may have.

Christine is a native of Chicago, born and raised on the Northwest side. She is a graduate of DePaul University, earning both a BA and MA.

WE GO THE EXTRA MILE

WHERE JSO HAS VALUED

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Alabama
Arizona
California
Colorado
Delaware
Florida
Georgia
Idaho
Illinois
Indiana
Iowa

Kansas
Kentucky
Maryland
Minnesota
Michigan
Missouri
Nevada
New Jersey
New York
North Carolina
Ohio

Pennsylvania
Rhode Island
South Dakota
Tennessee
Texas
Utah
Virginia
Washington
Washington DC
West Virginia
Wisconsin

Our licensure and qualifications permit us to appraise in states that are not currently highlighted. Please contact our office if you have a specific question regarding our geographic capabilities.

OUR TEAM HAS SPENT YEARS CULTIVATING INDUSTRY KNOWLEDGE

feel free to spend some time and learn more about the real estate appraisal industry

INDUSTRY

JARGON

Sales comparison approach

Income Approach

Cost Approach

PRESENTATIONS,

RESOURCES

& LINKS

Chicago & Collar Counties

Professional

General Knowledge

Also see the JSO Presentation "The Effects of Financing/Financial Management within the Cooperative Housing Industry."

CURRENT INTEREST RATES

Cook County

Will County

Lake County

GET IN TOUCH

we'd love to hear from you!

JSO Valuation Group, Limited

2100 Greenwood Street, Suite 104

Evanston, Illinois 60201

847-866-6660

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