Newsflash: Feasibility study vs appraisal report

What’s the difference between the two? I’m trying to build an apartment complex and a feasibility study is coming back up to ten times more expensive. Am I really getting 10x more value out of it? The appraisal report includes determination of market value; discussion of the project’s profitability (market value versus development cost), determination of market rent for the property’s units; analysis of the property’s market share, ie, how many units the property contributes versus how many are available in the neighborhood both now and over time; determination of absorption (or lease-up) period.Is this enough market data for me to move on? Or does a feasibility study provide something much more valuable? Located in northern neighborhood of Chicago (Rogers Park)



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