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Chicago Self-Storage Property Appraiser


The self-storage market has experienced many years of relatively strong growth. At year end 2017 there were 41,879 self-storage facilities in the United States. Approximately 75% are individually or privately owned according to the 2017 Self-Storage Almanac. On average there are 6.82 rentable square feet of self-storage area per person in the United States. In Illinois there is only 5.62 square feet per person available.

Chicago Commercial Appraisal Groups Self-Storage Real Estate Appraisers are licensed by the State of Illinois and have many years of real estate experience.  All Self-Storage Property Appraisals are reviewed by one of our MAI Designated Appraisers.  Our Chicago area clients can feel confident that our Self-Storage Appraisers have access to current market data to meet your Self-Storage Appraisal needs.

Self-Storage Real Estate Appraisal

The dynamics of Self-Storage Appraisal has changed dramatically in recent years. Variable pricing models are being increasingly used to price storage units much like the airline industry. Since storage space rental does not involve long-term commitments for rental rates facility owners will often deeply discount spaces to fill the units and then gradually increase the rates as the facilities fill up. This results in the reported physical occupancy level of facilities often being reported as quite high even though the economic occupancy rate is really much lower. Self-Storage Appraisers in the Chicago market that have not stayed current with these trends can easily over value this product type because they confuse physical occupancy with the far more relevant economic vacancy in projecting income.

Chicago Commercial Appraisal Group has completed numerous Self Storage Appraisals over the past 20 years.  We have completed Chicago area Self-Storage Property Appraisals for bank financing, estate valuation and property tax assessment purposes.

Chicago Self-Storage Tax Appraisal

The majority of Chicago Commercial Appraisal Groups work is in the area of Property Tax Appraisal.  Our Self-Storage Real Estate Appraisers are careful to distinguish between real estate value (which is taxable) and business value (which is not). Property tax rates vary substantially in the Chicago market and have a profound impact on Self-Storage property values. The south suburban Chicago area is being reassessed in 2017. This area is known for some of the highest property tax rates in the area (and the country) which has been severely hurting Self-Storage property values.  Chicago Commercial Appraisal Groups Self-Storage Property Appraisers are well versed in Self-Storage Property Tax Appraisal issues. For a quality Self-Storage Appraisal, please call Chicago Commercial Appraisal Group at (773)763-6750.  

Please click here for a recent article on Self-Storage Valuation.

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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.