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.

Commercial Appraisals
Restaurants

Restaurant / Fast Food Property Appraisals

Chicago Commercial Appraisal Group routinely performs a wide variety of Restaurant Real Estate Appraisals. We appraise restaurants, banquet facilities, bars and fast food facilities all over the Chicago metropolitan area. The Restaurant Appraisals may be needed for bank financing, property tax appeals or even estate planning. The National Restaurant Association survey taken six months into the pandemic reported 1 in 6 restaurants had closed on a permanent or long-term basis and another report published on March 31, 2021 cited Datassential research found 10% of U.S. restaurants closed permanently since the start of the pandemic.

Fast Food Restaurant industry revenue is expected to increase at an annualized rate of 3.1% to $325.3 billion over the five years to 2026 Association. The same source reports a 2012 restaurant store count of 616,098 in the United States. They reported Illinois Restaurant sales at $24,307,158 in 2016 and are projecting a 3.7% increase in 2017. The quick service and fast casual restaurant segments are expected to out perform the table serve restaurant segment. About 44.9% of all restaurants are chain restaurants with the balance being independents. According to Technomic Research, the top 500 restaurant chains increased 4.9% in 2015. The total number of locations for the top 500 chains increased 2.1% in 2015 to 223,000. The Fast Casual segment grew the fastest at an 11.4% clip in 2015.

Chicago Fast Food Tax Appraisal

When completing a Restaurant or Fast Food Real Estate Property Tax Appraisal it is important to note that we are appraising the real estate, not the business or equipment value. For Restaurant Property Tax Appraisals this is a critical distinction. The Assessor should not be valuing your restaurant business and you should only be paying real estate taxes on your real estate. Chicago Commercial Appraisal Groups Restaurant Tax Appraisers are careful to distinguish between real estate, equipment and restaurant business value.

Restaurant Real Estate Appraisers

Chicago Commercial Appraisal Group Restaurant and Fast Food Appraisers are all either Illinois Certified or Licensed professionals. Restaurant Appraisals completed by Chicago Commercial Appraisal Group are also reviewed by an MAI Designated Commercial Appraiser. Our appraisals are written to conform to the Uniform Standards of Professional Appraisal Practice (USPAP).

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