Certified restaurant equipment appraisals in Illinois for donations, lending, M&A, and financial reporting. AppraiseItNow appraises commercial kitchen equipment, refrigeration units, food prep machinery, cooking appliances, and bar equipment online and onsite across Illinois, including Chicago, Springfield, and Rockford.
By credentialed, best-in-class appraisers
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Joe Kattan
Jason Dolph, CAGA
Tim Roy, ASA, CEA
Marnie Erkelens, CAGA
Aron Blue
About Restaurant Equipment Appraisals in Illinois
AppraiseItNow provides professional restaurant equipment appraisal services throughout Illinois for a wide range of purposes, including charitable donations, lending and collateral valuation, mergers and acquisitions, and financial reporting. Whether you operate a single neighborhood diner in Rockford or manage a multi-location restaurant group across the Chicago metro area, our credentialed appraisers deliver accurate, well-documented valuations that satisfy lender, IRS, and accounting requirements. Our mission is to deliver defensible, USPAP-compliant valuations with exceptional speed, professionalism, and client service.
AppraiseItNow serves clients across Illinois with both remote and onsite appraisal options, allowing us to accommodate everything from a quick desktop review of equipment records to a full on-site inspection at your facility. As part of our broader equipment and machinery appraisal practice, we offer Fair Market Value (FMV), Orderly Liquidation Value (OLV), Forced Liquidation Value (FLV), and Replacement Value appraisals for various intended uses.
What Types of Restaurant Equipment Do We Appraise in Illinois?
Our appraisers evaluate a comprehensive range of commercial foodservice assets found in Illinois restaurants, cafeterias, hotels, catering operations, and institutional kitchens, including:
- Commercial cooking equipment: ranges, ovens, fryers, griddles, and broilers
- Refrigeration and cold storage: walk-in coolers, freezers, reach-in units, and display cases
- Food preparation equipment: slicers, mixers, food processors, and prep tables
- Warewashing systems: commercial dishwashers, glass washers, and sanitizing stations
- Beverage equipment: espresso machines, coffee brewers, juice dispensers, and bar equipment
- Ventilation and exhaust systems: commercial hoods, fans, and fire suppression systems
- Point-of-sale and ordering systems: POS terminals, kiosks, and kitchen display systems
- Smallwares and serving equipment: chafing dishes, serving carts, and buffet equipment
- Furniture and fixtures: booths, tables, chairs, and bar seating
- Storage and shelving: dry storage racks, mobile shelving units, and ingredient bins
Whether you are appraising a single piece of high-value cooking equipment or an entire commercial kitchen buildout, our appraisers have the expertise to assess condition, age, brand, and market demand accurately. Illinois restaurants range from fast-casual concepts to fine dining establishments, and our valuations reflect the specific equipment configurations and market conditions relevant to each operation.
Who Does AppraiseItNow Serve in Illinois?
We serve a broad range of clients across Illinois, including independent restaurant owners, multi-unit operators, lenders, bankruptcy trustees, estate administrators, CPAs, attorneys, and business brokers who need reliable restaurant equipment valuations for financial, legal, or transactional purposes.
5-Star Valuation Services, Loved by Hundreds
How much does a Restaurant Equipment appraisal cost?
Appraisal Type
Standard Fee Range
Pricing By Volume
What Drives Cost?
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Written USPAP-compliant equipment appraisals for when defensibility matters.
Given the USPAP-compliant nature of AppraiseItNow’s appraisal reports, we prepare our deliverables for major legal, tax, and financial reporting purposes for individual and commercial clients.
Popular uses of our appraisal reports include:
Tax, Estate & Financial Planning
- Gift Tax - IRS Form 709
- Estate Tax - IRS Form 706
- Charitable Donations - filing of IRS Form 8283
- Estate planning, equitable distribution, and probate
Transactions, Lending & Investment
- Asset-backed Lending
- Purchase price allocation & cost segregation
- Mergers & Acquisitions (transactional due diligence)
- Investment analysis & planning
- Financial Reporting
Insurance & Risk Management
Life Events & Special Circumstances
- Divorce
- Social Security reporting or Medicaid Application Filings
- E-2 visa applications
Frequently Asked
Questions
No Frequently Asked Questions Found.
Can AppraiseItNow appraise Restaurant Equipment in Illinois?
Yes, AppraiseItNow provides professional restaurant equipment appraisals throughout Illinois, including Chicago, Rockford, Springfield, and surrounding areas. We serve clients remotely and onsite depending on the scope of the assignment.
What types of Restaurant Equipment does AppraiseItNow appraise in Illinois?
We appraise a wide range of commercial restaurant equipment, including:
- Commercial ovens, ranges, and fryers
- Refrigeration and freezer units
- Dishwashers and warewashing systems
- Food prep equipment and slicers
- Ventilation hoods and exhaust systems
- Point-of-sale systems and bar equipment
- Smallwares and furniture when included in the scope
Are your Restaurant Equipment appraisals USPAP-compliant?
Yes, all of our appraisals conform to the Uniform Standards of Professional Appraisal Practice (USPAP). Our appraisers also meet IRS, FASB, and SBA requirements, making our reports suitable for a wide range of purposes.
What are common reasons someone in Illinois needs a Restaurant Equipment appraisal?
Illinois restaurant owners and operators commonly need appraisals for charitable donations, business loans and lending, mergers and acquisitions, and financial reporting. Appraisals are also used for insurance coverage, estate planning, and partnership buyouts.
Do you provide online or remote Restaurant Equipment appraisals in Illinois?
Yes, most restaurant equipment appraisals can be completed remotely using photos, invoices, serial numbers, and other documentation you provide. For larger collections or complex assignments, we can arrange an onsite inspection.
How much does a Restaurant Equipment appraisal cost in Illinois?
Our restaurant equipment appraisal fees in Illinois are as follows:
- Standard: $295
- Advanced: $395
- Range: $695 to $3,000 depending on scope
- Volume pricing: 1 item at $295 to $595, 10 items at $995 to $3,000, 50 or more items starting at $5,000 and up
The right tier depends on the number of items, complexity, and intended use of the appraisal.
How long does a Restaurant Equipment appraisal take?
Most remote appraisals are completed within 7 to 10 business days. Onsite assignments or larger collections typically take 2 to 3 weeks from the time we receive all necessary information.
Who prepares the appraisal report?
Reports are prepared by credentialed appraisers who hold designations from recognized professional organizations such as the American Society of Appraisers (ASA) or the Association of Machinery and Equipment Appraisers (AMEA). Every report is reviewed for accuracy and USPAP compliance before delivery.
Are there any Illinois-specific regulations for Restaurant Equipment appraisals?
Illinois does not require state licensure for equipment appraisers, unlike real property appraisers who are regulated by the Illinois Department of Financial and Professional Regulation. Compliance is governed by USPAP standards and the requirements of the intended use, such as IRS, SBA, or FASB guidelines.
Do you prepare appraisals for IRS Form 8283 (Noncash Charitable Contributions)?
Yes, we prepare qualified appraisals that meet IRS requirements for noncash charitable contributions reported on Form 8283. Our appraisers meet the IRS definition of a qualified appraiser and our reports include all required disclosures.
Do you buy, sell, or broker Restaurant Equipment?
No, AppraiseItNow is an independent appraisal firm only. We do not buy, sell, or broker equipment, which ensures our valuations remain objective and free of any conflict of interest.
What information do you need to get started?
To begin your appraisal, it helps to have:
- A list of equipment with makes, models, and serial numbers
- Photos of each item
- Purchase invoices or existing maintenance records if available
- The intended use of the appraisal, such as donation, lending, or sale
Will my appraisal be accepted by the IRS, insurers, or courts in Illinois?
Our appraisals are prepared to meet the standards required by the IRS, financial institutions, insurance carriers, and legal proceedings. USPAP compliance, qualified appraiser credentials, and thorough documentation all support acceptance across these contexts.
What value types are used for restaurant equipment appraisals?
The appropriate value type depends on the purpose of the appraisal. Common definitions include Fair Market Value for donations and tax purposes, Orderly Liquidation Value and Forced Liquidation Value for lending and distressed scenarios, and Replacement Value for insurance coverage. We identify and apply the correct definition based on your specific need.
Do local market conditions in Illinois affect restaurant equipment values?
Yes, regional factors such as local demand, the density of food service businesses, and proximity to equipment dealers can influence values in areas like Chicago versus smaller Illinois markets. Our appraisers account for these conditions when researching comparable sales and market data.
What credentials should I look for in an Illinois restaurant equipment appraiser?
Illinois does not issue state licenses for equipment appraisers, so professional designations are the primary indicator of competency. Look for appraisers credentialed through the ASA or AMEA, and confirm that their reports are USPAP-compliant and accepted by the intended recipient such as the IRS or a lender.
APPRAISEITNOW APPRAISERS ARE BEST-IN-CLASS & CREDENTIALED BY LEADING APPRAISAL ORGANIZATIONS LIKE THE ISA, ASA, & MORE.
