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Staff
Meet our Staff
REAC valuation professionals undertake hundreds of assignments each year.
To every project, the staff brings experience from diverse educational and professional
backgrounds in real estate, finance, economics, architecture, management, business administration,
construction, law, healthcare, and marketing.
William J. Townsley, MAI, SRPA, CAE
Chairman
Chairman and Founder of Real Estate Analysis Corporation in 1977. As the Chairman of REAC,
Mr. William Townsley oversees daily operations and provides conceptual direction to the firm's
endeavors. He has been an appraiser for over 30 years and holds the professional designations
of Illinois State Certified General Real Estate Appraiser, MAI, SRPA, CAE, CMI, and IPAI.
Mr. Townsley is a member of the Building Owners and Managers Association, Chicagoland Chamber
of Commerce, the Chicago Council on Urban Affairs, the International Association of Assessing Officers,
the Illinois Property Assessors Institute, the Institute for Professionals in Taxation, the National
Association of Realtors and the Pension Real Estate Association.
Formerly, Mr. Townsley was chief of Real Estate for the Cook County Assessor's Office and chief of the
Office of Financial Affairs for the State of Illinois. He authored the Illinois Real Property Assessment
Manual and instructed over 1,500 local assessing officers on its use. He also wrote Railroad Valuation
Procedure, which is used to value all operating railroads in Illinois, and the Cook County Appraisal Manual.
Mr. Townsley developed a procedure to evaluate candidates for the Office of the Supervisor of Assessments;
he also devised a valuation method for pollution control facilities. He has presented papers on topics such
as the valuation methods for golf courses, hotels, and shopping centers; real versus personal property; and
the impact of federal taxes and syndications on office building values. Mr. Townsley has appraised properties
throughout the United States.
Michael J. Kelly, MAI, SRPA
President
Mr. Michael J. Kelly, President of Real Estate Analysis Corporation, joined the company in
1978. He manages technical operations and supervises all appraisal projects. Mr. Kelly received
a Master of Business Administration from the University of Chicago and a Bachelor of Business in
Finance-Real Estate from Western Illinois University. He holds the professional designations of
MAI and SRPA.
Mr. Kelly is a member of the Building Owners and Managers Association, the International
Association of Assessing Officers and the Institute for Professionals in Taxation. He has
published articles on the valuation of landfills and regional malls and on the abstraction
of capitalization rates from the stock market. In addition, he co-authored "Appraisals" for
the Real Estate Taxation Handbook, which was published by the Illinois Institute for
Continuing Legal Education in 1997.
Mr. Kelly has made presentations before various professional organizations on the valuation of
anchor department stores, fast food restaurants, industrial properties and leaseholds. He also
presented "The Need for Definitive Standards in the Real Estate Valuation Process" to the
ERISA Advisory Council of the United States Labor Department in 1995.
Mr. Kelly is certified as an appraiser, and has been qualified as an expert witness in over
100 litigation cases. He has provided litigation support for a variety of property types,
including anchor department stores, chemical plants, nuclear power plants and paper mills.
Daniel F. Kelly
Appraiser
Mr. Daniel Kelly has been appraising real estate for sixteen years. He is certified in Illinois
as a General Real Estate Appraiser. In addition to appraising Mr. Kelly has a background in
construction, and worked as an ironworker in the constructing of high rise office buildings,
bridges, pre-cast concrete industrial buildings and nuclear power plants. He attended Depaul
University.
Mr. Kelly has experience with a wide variety of properties including commercial, industrial,
residential, and special use assignments. He has appraised paper mills, steel mills, food
processing plants, shopping centers, residential apartment complexes, medical complexes,
assisted living centers, retirement communities, hotels, casinos, and vacant land. He has
performed property valuations for ad valorem, financing, condemnation, and estate settlement
purposes.
Bradley Braemer, MAI
Appraiser
Mr. Bradley Braemer holds the professional designation of MAI and is a state general certified appraiser in Illinois.
Mr. Braemer holds a Bachelor of Arts degree in Business Administration, with a specialization in Real Estate
from the University of Wisconsin-Madison. He has been an appraiser with Real Estate Analysis Corporation since 2000.
He has appraised a variety of industrial, commercial, office and special-use properties, including; regional shopping centers,
department stores, grocery stores, hotels, office buildings, and vacant land.
Alan Geerdes
Appraiser
Mr. Alan Geerdes is a licensed real estate appraiser in Illinois. His appraisal history includes office,
commercial, industrial, residential,vacant land, and special-use properties including railroad right-of-way,
condominium market analysis, luxury apartments, sports stadiums,strip centers, estates, and landfills.
Mr. Geerdes holds a Bachelor of Arts degree in Business Administration from Augustana College.
Carlos Mendoza
Staff Appraiser
Mr. Carlos Mendoza is a staff real estate appraiser in Illinois. His appraisal projects range from residential, commercial, office and special
purpose property for Real Estate Analysis Corporation. Mr. Mendoza is pursuing a Bachelor of Science degree in Real
Estate Finance from Depaul University (August 2001 to Present). His studies range from Real Estate Law,
Real Estate Analysis, Real Estate Finance, and Real Estate Investments.
Robert Dobrzynski
Business Administrator
Mr. Robert Dobrzynski is REAC's Business Administrator. He manages the HR, Staff, Operations, and Accounting.
Mr. Dobrzynski has 15 years of management experience. He holds a Bachelor of Art in Literature and Communications
from Benedictine University-Lisle, Illnois.
Malgorzata Jalowiec
Accounts Payables Coordinator & Executive Assistant
Ms. Malgorzata Jalowiec is the Accounts Payable Coordinator and Mr. Townsley's assistant. She manages accounts payables and
daily billing operations at REAC. Ms. Jalowiec holds a Bachelor and Master in Economics from University of Economics in
Krakow-Poland.
Stella Yoon
Publishing Coordinator & Media Coordinator
Ms. Stella Yoon is REAC's publishing coordinator and media coordinator. She manages the print department while assisting in billing, collections,
marketing, and media coordination. Ms. Yoon holds a Bachelor of Arts degree in English Literature
from University of Illinois at Chicago and Master of Business in Management-Media from Columbia College-Chicago.
Crystal Neverdon
Administrative Assistant/Receptionist
Ms. Crystal Neverdon is REAC's administrative assistant and receptionist. She manages the office daily needs and
assists on projects for the appraisers. She holds a Bachelor of Arts degree in Marketing Communications
from Columbia College Chicago.
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