Frequently Asked Questions

Do I really need an appraisal?

Are you going to be obtaining financing for the property using a bank? If so, the bank will have to hire the appraiser. We are on most of the banks approved appraiser lists for the Great Lakes region. Leave us the name of the banks you are considering and any contact names you may have (with phone numbers) and we will contact them.

If you are trying to get a sense of your property's worth and intend to use this information primarily for internal decision making purposes, we can provide you with a restricted letter report at significant cost savings. This may be expanded later should you need to shop for financing.
back to top

What type of appraisal do I need?

If you are working with a lender, they will determine this for you. If it is for internal decision making purposes, then we would suggest a letter report (restricted reporting format) or a summary report. Both are cost effective and are generally sufficient for internal decision making or decisions among a few parties involved in a transaction or disposition of a real estate asset.
back to top

What type of consulting services do you provide?

We provide consulting for a broad range of real estate related matters. Some examples include:

  • Repositioning studies for residential or commercial properties that are outmoded or require substantial rehabilitation. Often ownership may not know what options and corresponding costs would maximize the utility and/or value of their property. This is generally known as a "Highest and Best Use" study.
  • Market research to explore supply and demand for a particular use for a property or whether there is a market for a particular use for a specific site.
  • Market research and/or valuation related to a proposed business venture or long-term decision to lease a property to a tenant, where the viability of the tenant's business is essential to deciding whether to provide tenant improvements to the property or how to structure a lease.
  • General real estate consulting to non profit organizations for buy/sell decisions, rent/own decisions, substantial rehabilitation, acquisition of a new property for housing special needs resident populations, etc.
  • Financial analyis related to real estate assets or facilities analyses for public sector and private sector/non profit clients, for profit businesses, etc.
  • Grant writing for applications for non profits to obtain grant monies and related financial consulting.
  • Market research and valuation of complex ownership interests for unusual properties, such as: railroad rights-of-way, mixed-use urban in-fill redevelopment, special needs and elderly housing, retail, office and residential redevelopment.

back to top

Do I need a market study?

Are you thinking of changing the market position of your property to include another type of use, resident population or expanding your present configuration to accomodate more tenants? Each of these will likely require that you understand the depth of market demand and supply for existing and potentially competitive properties. This will impact your pricing at a minimum and may force you to change your plans at a maximum. Either result is far better than designing the wrong concept for the market. Let us guide you.
back to top

I am a potential client, what information do I need from GLRAG?

Our full name and address:
Great Lakes Realty Advisory Group, Inc.
448 W. Washington Avenue - 2nd floor
Madison, Wisconsin 53703

tel: 608.255.3802
fax: 608.255.5463

Contact name: Doug Connor


back to top

All Contents ? 2000 - 2003 Great Lakes Realty Advisory Group, Inc.
Newsletter List of Services List of Recent Projects Qualifications Clients Frequently Asked Questions Sample Reports Links Contact Us