President's Message


A Message from:

Paul R. Gillespie, MAI                                                                                     April 26, 2013

2013 Chicago Chapter President

Dear Colleagues:

Much continues to happen all around that affects our future as professional appraisers.

New AMC Law & AMC Rules were recently established in The State of Illinois. Be aware of The State’s definition of an AMC. Your Chicago Chapter is reviewing this carefully, and your input is welcome.

Review The State’s Appraisal Law and recently updated Appraisal Rules. On May 22, former Chapter President TJ McCarthy, SRA will make a special presentation in Lisle, IL re The Rules (see below for details).

Visit the ICAP website  for a link to the AMC Law, AMC Rules, Appraisal Law, Appraisal Rules.

Become a regular reader, if not already, of our State Regulator’s Newsletter and other issuances 

On a federal level, The Appraisal Subcommittee has taken a formal first step to begin non-recognition proceedings against the State of Illinois’ Appraisal Regulatory Program.  IF this were to happen, then every appraiser credentialed in Illinois would NOT be eligible to perform appraisals for federally related transactions.  To be aware of this letter, visit   Just today, the Appraisal Foundation announced an Education Alliance. While this comes with risks and concerns, perhaps it will galvanize our profession to capitalize on opportunities.

Bottom Line: As professionals, we each need to be aware and aggressively participate and expand efforts in our professional environment.  One immediate opportunity is to express your opinion re the upcoming selection of our Appraisal Institute leadership.  Visit your Appraisal Institute homepage and select the top link for the 2014 Vice President Candidates, or visit

Respond today by sending a short email toSara Stephens, chair, 2013 National Nominating Committee,, with a copy to Darlene Grass, director, governance,  Please consider our Chapter’s very own candidate for AI Vice President and current Region III Chair,  Kern G. Slucter, MS, MAI, SRA.


CCAI’s Annual Conditions of The Chicago Real Estate Market- May 1, 2013 at The Chapter.

Mark Muenzer, City of Chicago, Zoning Board of Appeals, Problems & Opportunities for Appraisers
Steve LaKind & Joe Arnstein, Studley, Office Market Trends

Hugh Williams, Avison Young, Industrial Market Trends
Jim Costello, CBRE, Economist- Where are we headed?
Luke Molloy, Cushman & Wakefield, Retail Market Trends
Scott Duckett, Campus Advantage, Student Housing Trends, How deep is this market?
Eric Bell, Marcus & Millichap, Multi-Family Trends
Bob Dudick, Mixed-Use Realty Advisors, Market Observations

EARN 7-hoursof Continuing Education Credit. Details re this and other upcoming events & education can be found on the Chapter Website:

May 22 – Our next Chapter Members’ Meeting – Lisle, ILTim McCarthy, SRA re Illinois Appraisal Rules; Attorney Craig Capilla re Problems Appraisers Can Face – 4-hours of Continuing Education Visit

And make plans now to attend the AI Connectnational conference of the Appraisal Institute on July 23-25 in Indianapolis. The Chicago Chapter is a key sponsor of the event. During the week of the conference, my wife and I look forward to welcoming you – on behalf of ALL of our Past Chapter Presidents and Current Members - to The Chicago Chapter Presidents’ Suite which will be available for Chapter Members who would like to reserve some space for meeting clients or some quiet space to work…and of course, for a Chicago Chapter Gathering on the evening of Tuesday, July 23rd.

Earn up to 16 AI CE credit hours via more than 30 outstanding educational programs. Network with Appraisal Colleagues from around the world.

Also, Golfers- beginners & experienced – will be chasing the little ball at the Indy 500 course on Monday, July 22nd…at least two chapter families with children & teens have already secured lawn tickets to attend theLynyrd Skynyrd Concert in Noblesville on SAT, July 20.  All are welcome!   

Until we next meet, am available if you ever have any suggestions about how your Chapter can better serve you. 

For The Chicago Chapter of The Appraisal Institute,

Paul R. Gillespie, MAI      773.328.2044