JPMC Appraisal Services by County

Background

The Department of Central Management Services, in agreement with the Chief Procurement Officer for General Services, aims to establish a four-year Joint Purchase Master Contract for Appraisal Services by County. This contract is intended for use by governmental units and qualified not-for-profit agencies, facilitating access to appraisal firms for real estate appraisals, appraisal reviews, and other valuation services. The goal is to enable these entities to conduct transactions requiring real estate appraisal on an as-needed basis during the contract period.

Work Details

The services required under this contract include: 1. Appraising real estate and preparing Appraisal Reports in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP). 2. Reviewing and preparing appraisal review reports following the Code of Professional Ethics and Standards of Professional Conduct of the Appraisal Institute and current USPAP standards. 3. Conducting real estate market research and data analysis, preparing opinions of value, assisting in real estate negotiations, and providing general assistance to staff. All final reports must be certified self-contained appraisal reports specifying client identity, intended use, purpose of assignment, effective date of opinion, property being appraised, property interest being valued, assignment conditions affecting the appraisal, scope of work, excluded valuation approaches, highest and best use opinion when necessary, information considered, procedures followed, reasoning applied, and a signed certification per USPAP Standards Rule 2-3.

Period of Performance

The contract will commence upon execution and will end on March 23, 2030. The total term may not exceed ten years including any renewals or extensions.

Place of Performance

Services will be performed primarily in the State of Illinois.

Bidder Requirements

Bidders must provide a General Real Estate Appraiser State of Illinois Certification and MAI designation within seven business days upon request. They are required to maintain current insurance, licensure, and certifications necessary for service performance throughout the contract duration. Bidders must comply with prevailing wage laws applicable to the locality where services are performed.