Lake State Realty is proud to be a Disadvantaged Business Enterprise (DBE) as well as a Targeted Group Small Business.
Real estate decisions should always be made based on comprehensive research and analysis. Whether you are an urban planner, city attorney, engineer, senior manager, or other government staff, Lake State Realty can help assist you in making real estate decisions that affect where people live, work, learn, and play.
Appraisal Services
Lake State Realty has been routinely conducting appraisals for a variety of governmental units such as cities, counties, states (Minnesota, Wisconsin, North Dakota, Michigan, and Ohio), the Federal Government, and quasi-governmental entities since 1991. We are able to provide appraisal services for a wide variety of property types as well as purposes. We are pleased to serve government units and help those organizations efficiently execute their projects.
Our firm has the ability to provide litigation support for any of your valuation needs. This includes expert witness testimony in support of all our procedures, methodology, and independent appraisal report information.
Local, State, and Federal Property Appraisals
The appraisal of institutional assets or real property owned by government units is considered more complex than traditional property types. One of the challenges in appraising public real property is the lack of comparable data. Public properties are traded hands with less frequency so there are less sales data available to consider. This, however, will not deter a seasoned appraiser, or the appraisers at Lake State Realty who have experience valuing public land and buildings. If there exists no comparable sales data there are other methodologies that the appraisal profession has developed such as the cost and income approach. To add to the complexity, the current use may not be (and likely isn’t) the highest and best use of the property. Regardless of the circumstances, we will determine the best appraisal method for a given public property and our professional real estate appraisers will be able to handle the task.
Eminent Domain and Condemnation
Lake State Realty provides government clients with accurate reports and full-service support for projects that involve condemnation. This includes appraisals of all property types with acquisitions of varying complexities. We have been involved in several large right-of-way projects in recent years, as outlined at the bottom of the page.
Guidelines, Regulations, and Requirements
Lake State Realty performs appraisals and valuation services that comply with the strictest guidelines, regulations, and requirements. The following is a list of the guidelines, regulations, and requirements that we are familiar with and able to adhere to:
- The Uniform Standards of Professional Appraisal Practice (USPAP)
- Uniform Appraisal Standards for Federal Land Acquisitions (UASFLA, aka “Yellow Book”)
- Rule 26 of Minnesota Civil Procedure
- Section 301 of the Uniform Assistance and Real Property Acquisition Policies Act of 1970 enabling law 49 part 24
- The Minnesota Department of Natural Resources Appraisal Guidelines
- The Minnesota Department of Transportation Right of Way Manual
- Chapter 117 of Minnesota Statutes – Eminent Domain
- Chapter 429 of Minnesota Statutes – Local Improvements, Special Assessments
- League of Minnesota Cities Special Assessment Toolkit
- And more supplemental standards which many public entities require
Ultimately, an appraiser’s role with government agencies is to guide them to make virtuous real estate decisions that add to the quality of life within a community at a price that is fair to the taxpayers and affected property owners. In the end, proper valuation is the cornerstone to enable the government unit to make sound and prosperous decisions to serve its citizens.
Consulting Services
In addition to appraisal services, we provide real estate consulting services that recognize and appreciate the unique requirements and aspects of the public sector. We can provide a full complement of real estate advisory services to all levels of government. Whether you are seeking guidance and support through determining appropriate valuation for parkland dedication, valuation analysis for budgeting purposes, site selection, or you are looking to understand your specific market through the real estate cycle, Lake State Realty can assist you!
Government agencies are regularly tasked with collecting pertinent information to make decisions about real estate. Whether it is to secure funding to build out an infrastructure project or to ensure special projects are initiated efficiently and effectively, governmental units must undertake these complicated decisions to ensure they are being fiscally responsible with the taxpayer dollar. Due to the gravity of these decisions, it is essential that the right expertise and experience are engaged to assist with the decision-making process.
Our commitment to project continuity and transparency, together with our understanding of government responsibilities and political forces, has resulted in a consulting service that is sure to translate into successful outcomes for public sector clients.
Our services to government entities include (link to each one):
- Eminent Domain and Condemnation Appraisals
- Special Assessment Benefit Analysis
- Expert Witness Testimony and Litigation Support
- Easement Appraisals
- Appraisal Reviews
- Rental Rate Studies
- Facilitating Transactions Relating to Native American Lands Held In Trust by the Federal Government
- Market Studies and Feasibility Analyses
- Highest and Best Use Studies
Appraisal and Consulting Services for Government
If you work for a governmental entity or if you are legal counsel representing a government entity, give our office a call and we would be happy to provide a quote for our appraisal and/or consulting services. We look forward to hearing from you!
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Highway 5/Minnehaha Avenue and Stillwater Improvement Project
In 2022, Lake State Realty completed 55 minimum damage valuations along Trunk Highway 5 / Minnehaha Avenue. Property types included residential, office, retail, mixed-use, and institutional. -
METRO Gold Line Bus Rapid Transit (GBRT) Project (12 Parcels)
In 2021, Lake State Realty was hired by Metropolitan Council to complete 12 appraisals for the METRO Gold Line Bus Rapid Transit (GBRT) Project. Property types include retail, commercial office, multi-family, and religious institutions.
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Highway 169/210 - Aitkin to North of Hassman Reconstruction Project (26 Parcels)
In 2021, Lake State Realty was hired to complete 26 appraisals for MnDOT for the Highway 169/210 - Aitkin to North of Hassman Reconstruction Project. Property types included commercial, industrial, residential, rural residential, and agricultural.
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Highway 4 - Sherburn to St. James Improvement Project (44 Parcels)
In 2021/2022 Lake State Realty completed 44 appraisals for the Highway 4 - Sherburn to St. James Improvement Project. Property types included retail, industrial, residential, institutional, and commercial property types.
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City of Jordan Special Assessment Roll for 35 Parcels
City of Jordan hired Lake State Realty to complete an assessment roll for 35 Parcels for the purpose of a new road, streetscape improvements, water main, sanitary sewer, and storm sewer upgrades.
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Pelican Rapids Complete Streets Project (26 Parcels)
In 2023, Lake State Realty completed 26 appraisals on almost all commercial properties in downtown Pelican Rapids for the Pelican Rapids Complete Streets Project.
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Dayton Parkway Freeway Interchange Special Assessment Roll
Lake State Realty was hired by the City of Dayton to complete a special assessment roll for a new freeway interchange with 94 at Dayton Parkway. We completed the assessment roll and all assessments were accepted or administratively negotiated so that no appeals required court action.
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Rush City Assessment Policy
Lake State Realty helped the City of Rush City develop their assessment policy (2008)
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Trunk Highway 22 Reconstruction Project - Blue Earth & Le Sueur Counties
In 2023, Lake State Realty completed 33 uncomplicated appraisals spanning agricultural, rural residential, and industrial property types. The project was along Trunk Highway 22 in Blue Earth and Le Sueur Counties.
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Special Assessment Roll For Exit 123 and I-35E
Lake State Realty was hired by the City of Lino Lakes to complete a special assessment roll for an upgraded interchange at Exit 123 and I-35E. The assessment roll stood up to legal challenge and after expert witness testimony the assessments were upheld by the court.
Past Clients:
