SUMMARY
EXPERIENCE
APPRAISAL ALLIANCE INC. Chief Appraiser, Western Division Chicago, Illinois, 1996 to Present. Appraisal Alliance varies between 10 to 14 staff members depending on work load. The company has five locations throughout the Midwest and three MAI's. The majority of work involves client development, quoting fees, controlling quality and reviewing staff appraisers technical abilities. Involvement consist of appraising commercial, industrial and multi-family properties throughout the Midwest. Recent special assignments include: Consultant in valuation matters involving Granot Luma. Granot Luma is reportedly the worlds largest log cabin (+35,000/sf). Appraised Detroit Arsenal Plant which had been the sole armored tank production facility in the United State's since WWII. The Plant was over 1,000,000 square feet and at one time used a locomotive engine for heat. The firms emphasis is full narrative reports.
VERTIN VALUATION SERVICES INC. Chicago, Illinois, 1992 to 1996.Owner/Principle:Vertin Valuation had three staff and merged with Appraisal Alliance. The majority of work involved marketing firm, quoting fees, controlling quality and reviewing staff appraisers technical abilities. Personally involved with appraising commercial, industrial and apartment buildings throughout the Midwest. Extensive client contact and staff reviewing. Special assignments included: Consultant to the Illinois Attorney General's Office concerning diminution of value caused by landfill expansion. Secured as expert witness for the international law firm of Kelso and Matthews concerning diminution of value caused by Governmental toxic waste sites. Appraised historic sites, national landmarks and portfolio valuation. The firm emphasis was full narrative reports.
PRICE APPRAISAL SERVICES, Dallas, Texas, 1989 to 1992. Senior Staff Appraiser: Price Appraisal Services had eighteen staff and three MAI’s. The majority of work involved appraising larger commercial, industrial and apartment properties throughout Texas during the savings and loan crisis. Extensive experience with Project, Argus, Lotus and Word Prefect. Appraised golf courses, free trade zones, national landmarks and portfolio valuation. Special assignments included: Appraising Centre Point Business Park for famed financer Richard Rainwater. Appraised Stone Bridge Country Club for the RTC after it went in to default holding the title of the largest real estate failure in US history. Reviewed hundreds of reports for FDIC and RTC for FIRREA compliance. Firm emphasis was full narrative reports.
REAL ESTATE RESEARCH CORPORATION, Chicago, Illinois, 1988 to 1989. Staff Appraiser: RERC claims to be the oldest national appraisal/consulting firm in the US with locations throughout the country. Appraised properties throughout the United States for large institutional investors. Valued portfolios exceeding $150 million, office buildings exceeding 500,000 square feet; and numerous special use properties. Special assignments included: Appraising Armour Stars meat packing facilities throughout US. Appraised +610,000/sf of industrial space in Chancellory Business Park. Extensive experience with Project, Argus, Lotus and Word Prefect. Emphasis on full narrative report writing.
PRICE ASSOCIATES INCORPORATED, Chicago, Illinois, 1986 to 1988. Staff Appraiser: Price has been in business since 1907. I worked under the past President of the Appraisal Institute. Appraised commercial/industrial properties in the greater Chicagoland area. Special assignments such as: condemnation proceedings, total residential subdivisions, graveyards, churches, corporate retreats, stockyards and riding stables. Emphasis on full narrative report writing.
EDUCATION
University of Utah - Graduated with honors
Bachelor of Science in Finance with minor in Real Estate Investments
UNIVERSITY RELATED COURSES
Real Estate Law
Income Property Valuation
Real Estate Investment Theory
Principals of Real Estate
Urban Land Economics
TECHNICAL
Have passed the following examinations given by the Appraisal Institute (formally the American Institute of Real Estate Appraisers):
Real Estate Appraisal Principals 1-A-1 1986
Basic Valuation Procedures 1-A-2 1987
Capitalization Theory and Techniques A 1988
Capitalization Theory and Techniques B 1988
Standards of Professional Practice 2-3 1989
Case Studies in Real Estate Valuation 2-1 1990
Report Writing and Valuation Analysis 2-2 1990
PROFESSIONAL AFFILIATIONS
Member of the Appraisal Institute (MAI Certificate No. 9614)
Illinois State Certified General Real Estate Appraiser (Lic. No. 153-000656)
Michigan Certified Appraiser (Lic. No. 1201005151)
Indiana Certified Appraiser (Lic. No. CG49700021)
Currently on Appraisal Institute National General Demonstration Report Grading Committee and
Regional Ethics and Counseling Panel.
Chairman of the Public Relations Committee for the Appraisal Institute
Past Member of the Illinois Association of Mortgage Brokers
RECENT PUBLICATIONS
Round Lake Beach Greatly Expands Its Retail Base, Lakeland Newspapers, July 22, 1994
Office Vacancies In Libertyville, Vernon Hills and Mundelein Lowest in Chicagoland,
Lakeland Newspapers, September 2, 1994
The State of the Industry, Real Estate Trends Magazine, March/April, 1996
Not All Appraisers Are Created Equal, Illinois Banker, February 1997
Appraisal Alliance, Michigan Commercial Real Estate, October/November, 1996
Publisher and Co-Publisher of Appraisal Alliance Quarterly, Illinois and Michigan respectively, Newsletter distributed to over 5,000 clients
COURT TESTIMONY
Mr. Vertin has qualified as an expert witness in County, City, State and Federal Courts. The following is a partial list of courts and clients he has performed work for.
Halfpenny, Hahn and Roche Zoning Board of Appeals, City of Chicago
Neil Robin, Attorney at Law Cook County Circuit Court
Mr. Richard Nichols, President Zoning Board of Appeals, Village of Downers Grove
The Oak Brook Neighborhood Association
Kirkland and Ellis Zoning Board of Appeals, City of Chicago
NCNB Texas U.S. Bankruptcy Court, Dallas Texas
Plano Savings and Loan Texas Court of Appeals, Dallas Texas
Isham, Lincoln and Beale Zoning Board of Appeals, City of Chicago
Warren R. Fuller Attorney at Law ;Zoning Board of Appeals, City of Chicago
Cisar & Mrofka Cook County Circuit Court
Office of the State's Attorney Lake County Circuit Court
Freeborn & Peters Lake County Circuit Court
Callahan, Fitzpatrick, Lakoma & McGlynn;Cook County District Court
Leodis C. Mathews, (Frankfurt, Germany);Federal District Court, Salt Lake City, Utah
Banc One Capital; Federal District Court, Toledo, Ohio
Katten Muchin & Zavis Federal District Court, Detroit, Michigan (Pending)
CLIENTS
The following is a partial list of clients Mr. Vertin has provided consulting or appraisal work for since 1986.
Institutional Investors/Developers
Affiliated Asset Based Lending Services, Incorporated
Banc One Capital Funding
AMRESCO
AMPAL - American, New York, New York
Cohen Financial Corporation
Equitable Investment Services, Inc., Iowa
Investment Office Home Life Insurance Company,
JMB Institutional Realty Corporation
L/J Partners Dallas Texas
Mid-Northern Equities, Ltd.
Northern Trust Company
O'Hare Development Corporation
Prudential Mortgage Capital Company
Raintree Development Corporation Dallas Texas
Standard Management Corporation Indiana
Stewart Title Guaranty Company
Trammell Crow Company
The Boston Company Real Estate Counsel Inc., Massachusetts
The Northern Trust Company
Law and Accounting Firms
Altheimer and Gray
Arnstein Gluck Lehr Barron & Milligan
Arvey Hodes Costello & Burman
Beeler, Schad & Diamond
Bernard J. Kayne and Associates, Ltd.
Boehm & Pearlstein, Ltd.
Cohon, Raizes & Regal
D'Ancona & Pflaum
Dannen, Crane, Heyman & Simon
DeFrees & Fiske
Fisk Kart & Katz, Ltd.
Gottlieb & Schwartz
Halfpenny, Hahn & Roche
Harold I. Levin, Ltd.
Holleb & Coff
Johnson, Cusack & Bell, Ltd.
Katz Randall and Weinberg
Kirkland and Ellis
Korshak & Mendelsohn
Laventhol and Horwath
Miller, Faucher, Chertow, Cafferty and Wexler
Neistein, Richman, Hauslinger & Young, Ltd.
Phillip C. Goldstick and Associates, Ltd.
Wiss, Janney, Elstner Associates, Inc.
Worsek & Vihon
Mathews Law Offices, Headquartered in Frankfurt Germany
Government Agencies
Bonnet Resources Corporation (RTC Controlled)
Federal Deposit Insurance Corporation
Home Federal Savings & Loan Association of Lake County
International Order of Foresters, Ontario, Canada
Plano Savings and Loan Association Special Asset Texas (RTC Controlled)
Provident Bank Special Asset Texas (RTC Controlled)
Southwest Saving Association Special Asset Texas (RTC Controlled)
Team Bank N.A. Special Asset Texas (RTC Controlled)
U.S. Department of Housing and Urban Development
Fanniemae
Freddiemac
U.S. Department of Agriculture
Village of Oak Park, Illinois
Banks/Savings and Loans
Banc One Capital Markets Group
Mellon Mortgage Company
Affiliated Bank/Cicero
Affiliated Bank/North Shore National
Affiliated Bank/Skokie
Affiliated North Shore National Bank
All American Bank of Chicago
American National Bank
American National Bank of Arlington Heights
American National Bank of Libertyville
American National Bank of Homewood
American National Bank and Trust Company of Chicago
Avenue Bank of Oak Park
Bank of America
Bank of Highland Park
Boulevard Bank
Citicorp Savings
Cole Taylor Bank
Colonial Bank & Trust Company
Comerica Bank - Illinois
Community Bank of Edgewater
Enterprise Savings Bank
First Bank and Trust Company of Illinois
First Chicago Bank of Bloomingdale
First Chicago Bank of Elmhurst
First Colonial Bankshares
First Interstate Mortgage
First National Bank of Des Plaines
First National Bank/Morton Grove
First of America Bank - Northeast Illinois, N.A.
Fox Lake State Bank
Golf Mill State Bank
LaSalle National Bank
LaSalle Bank/Northbrook
Madison Bank
Merchandise National Bank of Chicago
Michigan Avenue National Bank
Michigan Avenue National Bank of Chicago
Michigan National Bank
Midwest Bank and Trust Company
Midwest Bank of Hinsdale
NBD Bank Illinois
NBD Illinois
NBD Mount Prospect
NBD Park Ridge
NCNB Texas
Northlake Bank
Old Kent Bank
River Forest State Bank
Skokie Federal Savings
Skokie Trust & Savings Bank A Cole-Taylor Bank
Success National Bank
The Exchange National Bank of Chicago
Hanvit Bank of Korea
First Bank of Highland Park
Builders Bank of Chicago
Michigan National Bank
Private and Public held Entities
The Kellog Company
Academy Broadway, New York, New York
AMCO Corporation
Blakeslee-Division of Blako, Inc.
Blue Star Auto Stores, Incorporated
Caron, Inc.
Charles Industries
Dynamic Screw Company
Field Container Corporation
Fromm Industries
Gateway Foundation
G. E. Mathis & Company
Javo-Mex Corporation
Metropolitan Limousine
Mid-Lakes Distributing, Incorporated
Moore Supply Company
Neiman Brothers Company
Nelson Brothers Furniture Corporation
Owens-Corning Fiberglass Corporation
Progressive Lifegiving Word Cathedral
Quality Beers, Inc.
R&D Thiel, Incorporated
Tandy Corporation
The Sidwell Company
Wwnston Manor Convalescent Home
