The View Matters In East Lakeview
By Michael Hobbs, SRA, LEED GA, RAA
(PahRoo Appraisal & Consultancy)
Once again the opportunity to see things that are not privy to every passerby makes appraising interesting and educational. To the unsuspecting individual, it would not seem to be a big deal to buy a condo on a high floor along / near Lake Michigan with beautiful lakefront views. But what if you overlooked the possibility that someone else closer to Lake Michigan could build? And what if that 'building' could rise up as high or higher than your unit and then possibly obscure or even block your view? Recently, while standing out on the balcony during an assignment, peering out of Lake Michigan on a sunny day with miles and miles of blue lake, I looked down and saw a large (for Chicago standards) tract of land which was undeveloped. The dirt below is the site of a future single famil...