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.
Michael J. Kelly, MAI, SRPA
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
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
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
Mr. Bradley Braemer is a state general certified appraiser in Illinois. 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, grocery stores, department stores, hotels, office buildings,
and vacant land. Mr. Braemer holds a Bachelor of Arts degree in Business Administration, with a specialization
in Real Estate from the University of Wisconsin-Madison.
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.
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.
Mr. Joseph M. Heaton is a staff real estate appraiser. His appraisal projects range from residential, commercial, office and special purpose property for Real Estate Analysis Corporation. Mr. Heaton has a background in real estate sales, property management and holds a Bachelor of Arts degree in Business Communications from Xavier University.
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.