Re: Stephen J. Vertin, mai, ai, The Farmer and the Tell

Posted by cochise on March 26, 2008 at 14:59:07:

In Reply to: Stephen J. Vertin, mai, ai, The Farmer and the Tell posted by Cochise on March 24, 2008 at 16:36:42:

Stephen J. Vertin, MAI
ois
Professional Status: Certified General Appraiser
State: Illinois
Posts: 1,582


Walk-Up vs. California Style Apartments

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I am putting this in the state section instead of the commercial section since my question has to do with the Chicago market area.

Odd situation in Southshore (Chicago). Doing a portfolio of apartment buildings having between 15 to 20 units. All of the subject buildings are walk-up (constructed in the 1920's) and all are in Southshore. However, the bulk of sales in the neighborhood are California Style buildings built in the 1960's (very unusual for the City since most of the buildings in the area are walk-up). There does not appear to be significant adjustments between California Style and Walk-up buildings since within this age group effective age becomes most important. Spoke to the selling brokers (at least the ones that called back) and no one knows why mostly California Style buildings in this size range have sold. Is this just a market fluke? Or is something going on few are aware of? In 2006 the vast majority of sales were walk-up.

http://appraisersforum.com/showthread.php?t=132560

• Appraiser

Follow Ups:

• Re: Stephen J. Vertin, mai, ai, The Farmer and the Tell (url) - Cochise 15:21:51 03/26/08 (2)
  • Re: Stephen J. Vertin, mai, ai, The Farmer and the Tell (url) - Cochise 08:34:03 03/27/08 (1)
    • Re: Stephen J. Vertin, mai, ai, The Farmer and the Tell (url) - cOCHISE 11:15:46 03/31/08 (0)

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