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J. Chie, Esquire

Our law firm provides legal work for real estate closings for over 30 years… What distinguishes Chicago Commercial Appraisal Group from other appraisers is the level of thoroughness and details.

A. Raila, Senior Tax Analyst

Gary is a hands-on professional always willing to pick up the phone and work with you... His appraisal firm produces one of the best real estate forecasting reports in the state. I highly recommend his work and his opinion is highly recognized by governmental agencies.

J. Norris, Property Tax Attorney

As an attorney, we deal with many appraisal reports used in tax appraisals. Gary's work has proven successful for our clients and I do not hesitate recommending him for tax assessment appeal appraisals.

C. Noone, property owner

I needed an appraisal for settling an estate. Mr. Peterson was very professional, punctual and helpful with the process. I received my report ina timely manner. I would certainly recommend this company, as well as use their services in the future.

J. Tsiaousis

Gary is one of the top commercial appraisers in Chicago. Every time I have a client in need of a commercial appraiser I refer all work to him without hesitation.

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Assessor Slightly More Lenient To Smaller Properties

Every year we conduct an Assessor and Board of Review study to measure the success of our tax attorneys in the appeal process and to improve our appraisal methodology.  For the 2020 South Tri we used a sample set of 168 appraisals with a total assessed value of $246,145,594.  We only included properties where the appraisal was ordered in time to go through the Assessor review and re-review process.  The Board of Review is still in process and we will look at those numbers in a future article.  This analysis only covers the Assessor and Assessor’s re-review process.


First, we will look at how the Assessor treated what would generally be considered smaller versus larger properties.  There were 79 properties in our data set where we did an income/sales comparison approach methodology and 88 properties where a sales comparison only (limited) appraisal was used.  In general, it appears the Assessor was somewhat more receptive to the limited appraisals relative to the income/sales comparison approach appraisals.   The limited appraisals averaged an 8.64% reduction and had a median relief of 5.98%.  The income/sales comparison approach appraisals averaged a slightly lower 7.69% reduction with a median relief level of only 2.65%.

We also looked at how the Assessor treated various property classes when the assessments were challenged.  Our sample set included 60 industrial properties, 60 retail properties and 37 office properties.  The industrials received the least relief with a 6.21% average reduction and a 3.09% median level of relief.  Retails received better results with a 7.93% average reduction and 4.82% median decline.  Finally, office properties received the most relief with 11.33% average decline and a 5.2% median reduction in assessments.

The Assessor results, of course, are only the first step in the process.  What happens through the Board of Review will be what is of most interest.   As that data becomes available, we will keep you posted.