Scottish Rite Cathedral 2008

Planned Development and Historic Preservation • Chicago, IL

Historic Building Valuation

Clarion Associates was retained to provide consulting and real estate appraisal services concerning the market value of the historic Scottish Rite Cathedral. The consulting services were provided in connection with a potential donation in fee of the Cathedral to a non-profit organization.

Scope of Services Provided

  • Reviewed and analyzed the planned development zoning affecting the property as well as information provided by the property owner concerning proposed interior and exterior renovation costs;
  • Collected and analyzed information on market trends, expenses, and capitalization rates of retail and commercial properties in the Chicago area as part of a detailed highest and best use analysis;
  • Undertook the Sales Comparison Approach, Cost Approach, and Income Approach to determine the market value of a fee simple interest in the property.

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