Integra Realty, Appraisal Research Counselors Team Up

The company will open a new office in Chicago, which will be operated by ARC employees. This will mark Integra’s sixth business expansion within the past year.
Ron DeVries, senior managing director, Integra
Ron DeVries, senior managing director, Integra

Integra Realty Resources reestablished its presence in Chicago by entering a partnership with advisory firm Appraisal Research Counselors. The company opened a new office at 400 E. Randolph, which will be run by ARC’s team of 32 employees. This will mark Integra’s sixth business expansion within the past year, after Puerto Rico, Austin, San Antonio, Houston and Dallas.

The senior managing director of Integra’s Chicago office will be industry veteran Ron DeVries, who has been with ARC for almost 30 years. He was also part of the Appraisal Institute’s national board of directors and served as chair of education. Some of his recent projects include the Wolf Point West and East apartment buildings.

Strong management team

The leadership team will also include Gail Lissner, William Miller, James Kutill and Eugene Stunard as managing directors. Each of them has been with ARC for more than 35 years. Stunard, who founded the company in 1968, held a number of leading industry roles, from that of president of the Appraisal Institute to inductee of the Chicago Association of Realtors Hall of Fame.

Kutill has been focusing on the senior housing segment conducting appraisal compliance reviews. He was part of the team that redeveloped the Tribune Tower on Michigan Avenue. Miller has been overseeing ARC’s litigation practice while Lissner has conducted a range of for-sale and rental projects.

Joining Integra provides us with a national platform to grow our business. Not only will we be able to better service our existing clients with assignments that reach beyond our market, but we’ll be able to expand our business to a broader client base,” said DeVries in prepared remarks.

Last month, IRR sold the assets of six of its offices to Newmark Knight Frank. The real estate deal involved businesses located in the New York/New Jersey, Philadelphia, Wilmington, Del., Baltimore, Washington, D.C., and Atlanta areas.

Image courtesy of Integra Realty Resources