1515 W Howard St. Chicago, IL
Licensed Illinois Auctioneer | ISA Member | USPAP Compliant | IRS Qualified | Family Business Since 1969
Personal Property Appraisers Chicago
Serving City, the North Shore and Suburbs
Providing exceptional, ISA standard, USPAP and IRS qualified reports in the following sectors:
- IRS 706 Estate
- Probate
- Insurance
- IRS 8283 Donation
- divorce
- collection
- inherited property
AS FEATURED IN:
What Is A Personal Property Appraisal?
A personal property appraisal is a professional evaluation of movable assets such as antiques, artwork, jewelry, furnishings, collections, decorative objects, and estate contents. These appraisals are commonly needed for probate, estate settlement, insurance coverage, donation documentation, divorce proceedings, and resale planning.
In Chicago, personal property appraisals often involve a wide range of items collected over decades, from historic family homes and vintage apartments to modern high-rise condominiums and inherited estates. Accurate valuation requires both market knowledge and practical experience handling real-world estate situations.
Property we Regularly Appraise
You do not need to know what you have before contacting us but common property we have helped with include:
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Antiques
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Fine art
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Jewelry and watches
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Silver
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Decorative arts
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Vintage clothing and textiles
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Furniture
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Collectibles
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Household contents
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Specialty collections
Situations We Commonly Handle
Lost Eras regularly assists with personal property appraisal situations involving:
- Probate appraisals and estate settlement
- Inherited homes and family estates
- Downsizing and senior transitions
- Divorce and asset division
- Insurance scheduling and claims
- Donation and charitable contribution documentation
- Estate sale preparation
- Auction evaluation and resale planning
- Collector estates and specialty property
- Relocation and time-sensitive move-outs
- Antique appraisals in Chicago
Many clients initially contact us seeking only an appraisal, then later require broader assistance coordinating estate sales, auctions, or disposition planning once the scope of the estate becomes clearer.
In Chicago, personal property appraisals often involve a wide range of items collected over decades, from historic family homes and vintage apartments to modern high-rise condominiums and inherited estates. Accurate valuation requires both market knowledge and practical experience handling real-world estate situations.
Full-Service Overview
Personal Property appraisal situations require a tailored approach
Lost Eras provides personal property appraisal services throughout Chicago and the North Shore for individuals, families, attorneys, executors, and estate representatives seeking clear, supportable valuations.
Our appraisal work commonly includes:
- Estate contents and household furnishings
- Antiques and decorative arts
- Fine art and sculpture
- Jewelry and watches
- Vintage clothing and textiles
- Collectibles and curated collections
- Mid-century and designer furnishings
- Mixed estates containing both contemporary and antique property
Every estate presents different circumstances. Some clients require formal appraisal reports for legal or tax purposes, while others need practical guidance determining what should be retained, sold, donated, or distributed among heirs.
Because our business operates directly within the secondary market, our evaluations are grounded in actual buyer demand, auction performance, and current resale conditions rather than generalized pricing assumptions alone.
Locally Trusted Resource for 55 years
Serving Chicago, suburbs & the North Shore for three generations
Lost Eras provides personal property appraisal services for clients throughout Chicago and the North Shore, including Evanston, Wilmette, Winnetka, Glencoe, Highland Park, Lake Forest, Lincoln Park, Gold Coast, and surrounding communities.
We work with families, executors, attorneys, collectors, and institutions requiring professional appraisal guidance for probate, insurance, donation, estate settlement, resale, and inherited property situations.
Our office is located in Chicago with consultations available by appointment.
Office Information
Lost Eras
1511 W Howard St. Chicago, IL 60626
Phone: 312-316-1228
Appraisals By Appointment Only
“Lost Eras as been an invaluable resource in our estate planning process“
Areas We Serve
We provide personal property appraisal services throughout Chicago and the North Shore.
Our work frequently takes us to:
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Chicago
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Evanston
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Wilmette
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Winnetka
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Highland Park
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Glencoe
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Northbrook
We regularly work across both dense urban environments and larger suburban estates, each presenting very different logistical and valuation considerations.
Who We Work With
Our clients include individuals and families navigating a wide range of estate and valuation situations throughout Chicago and surrounding communities.
We commonly work with:
Families & Heirs
Families are often faced with sorting through decades of belongings while determining what has financial, historical, or sentimental value. We help provide clarity during what is frequently an overwhelming process.
Executors & Trustees
Executors often need organized valuation documentation to help settle estates properly and efficiently. We assist with identifying assets, determining fair market value, and helping prioritize next steps.
Attorneys
We regularly coordinate with attorneys handling probate, estate administration, divorce matters, and related legal situations requiring supportable valuations and organized documentation.
Collectors
Private collectors frequently seek guidance regarding valuation, liquidation strategy, insurance coverage, or estate planning involving specialized collections.
Downsizers & Seniors
Long-time Chicago and North Shore homeowners often require practical assistance evaluating what should be retained, sold, transferred, or donated during major life transitions.
Out-Of-State Families
Many estates involve family members coordinating remotely. We frequently assist clients who cannot be physically present throughout the process.
- Actual auction results
- Estate sale performance
- Current secondary market demand
” We make sure every client approaches their unique situation with a feeling of ease and confidence when we commit to an assignment. Our goal is to provide accurate and top quality reports to get you through a challenging time minimizing difficuly wherever we can.”
– C. Joseph Walters, ISA – Lead Appraiser
We assist clients by:
- Identifying which items require formal appraisal vs. general valuation
- Providing clear, well-supported values for estate use
- Advising on next steps, including sale or distribution
- Coordinating with attorneys, executors, and families as needed
This ensures valuations are not theoretical—they reflect what items are truly worth in today’s market.
Why Clients Choose Lost Eras
Lost Eras is a Chicago family business established in 1969 with decades of experience evaluating, buying, selling, and managing personal property across a broad range of estate situations.
Our background combines:
- practical secondary market knowledge
- estate and auction experience
- familiarity with antique and mixed-property estates
- real-world resale understanding
- experience coordinating complex estate transitions
Unlike firms working solely from theoretical pricing models, our valuations are informed by direct involvement in the estate, resale, and auction markets.
Clients often choose Lost Eras because they need practical guidance—not simply paperwork. Many situations require understanding both what items are worth and what realistic next steps look like within the current market.
“Lost Eras is a Chicago family business established in 1969 with decades of experience evaluating, buying, selling, and managing personal property across a broad range of estate situations.”
Our Appraisal & Estate Valuation Practice Areas
Insurance Appraisals
For documentation of valuable personal property and collections.
Downsizing Transitions
For homeowners moving from a long-time residence into a smaller home, condo, or senior community.
Probate & Estate
For executor, attorney, and estate settlement valuation needs.
Relocation
For work or family needs, often with or without a firm move-out date.
Inherited Estates & Antiques
For families sorting, valuing, or distributing property after a death.
Donation & Tax Related
For charitable donation or tax-related valuation situations
Estate / Auction Valuations
For property being evaluated before sale, auction, or private placement.
Estate Planning
For families organizing property value before future transition.
Frequently Asked Questions
Do all items require formal appraisal?
No. Some estates contain only a limited number of items requiring formal documentation, while other property may simply need general valuation guidance.
What types of property do you commonly evaluate?
We regularly evaluate antiques, furnishings, decorative arts, collections, jewelry, fine art, vintage clothing, household contents, and mixed estates.
How is fair market value determined?
Valuations are typically based on current secondary market conditions, comparable sales data, auction records, and broader market demand.
Can you work with attorneys or executors directly?
Yes. We frequently coordinate directly with attorneys, executors, trustees, and estate representatives.
Do you service condos and apartments?
Yes. Much of our work throughout Chicago involves high-rise buildings, vintage apartments, and properties requiring scheduled access or building coordination.
Can you help determine what should be sold versus retained?
Yes. Many clients need practical guidance separating items requiring formal appraisal from property better suited for resale, donation, auction, or family distribution.
Do you only work in Chicago?
No. We provide services throughout Chicago and the North Shore, including Evanston, Wilmette, Winnetka, Highland Park, and surrounding communities.
How long does the process usually take?
Timing varies depending on the size and complexity of the estate, the type of property involved, and the level of documentation required.
Chicago & North Shore Considerations
Personal property appraisal work in Chicago requires experience navigating a wide range of logistical and property-related challenges.
We routinely work in:
- vintage apartment buildings
- downtown high-rises
- historic North Shore homes
- lakefront properties
- multi-unit buildings
- estates with restricted access or scheduling limitations
Practical factors often influence estate planning and valuation work, including:
- freight elevator reservations
- limited parking access
- tight move-out schedules
- coordination with attorneys or building management
- multiple heirs located across different states
- estates containing both modern furnishings and older inherited property
North Shore estates also frequently involve long-held family collections accumulated over generations, requiring careful review to separate ordinary household contents from items warranting deeper research or formal documentation.
These situations benefit from practical experience, organization, and familiarity with both the local market and the realities of estate transitions.
Common legal considerations
Appraisal work involves more than valuation—it requires careful handling of law, property, and timing.
- Inheritance, Estate Tax & Fair Market Value Documentation
- Charitable Donation Appraisals & IRS Documentation
- What Is A Date-Of-Death Appraisal?
- What Is Step-Up In Basis?
- When Formal Written Appraisals May Be Necessary
Inheritance, Estate Tax & Fair Market Value Documentation
Inherited personal property may require professional valuation for estate settlement, tax documentation, equitable distribution among heirs, insurance review, or future asset disposition. In many estate situations, attorneys, executors, accountants, or trustees request fair market value documentation to help establish accurate records for estate administration and related reporting requirements.
One of the most common valuation standards used in inheritance-related appraisal work is fair market value, which generally reflects the price a property would reasonably sell for between a willing buyer and willing seller under current market conditions.
Certain estates may also require date-of-death valuations establishing the fair market value of personal property as of the decedent’s date of death. These valuations may become important during probate, inheritance distribution, estate tax review, or future resale of inherited assets.
Depending on the estate involved, valuation documentation may be associated with:
- inherited asset distribution
- estate inventory preparation
- stepped-up cost basis considerations
- estate tax reporting
- probate administration
- trust and estate settlement
Some estates may involve documentation connected to:
- IRS Form 706 – United States Estate (and Generation-Skipping Transfer) Tax Return
- IRS Instructions For Form 706
Lost Eras provides personal property appraisal services intended to support broader estate and valuation processes where fair market value documentation may be required.
What to Expect When Working With Lost Eras
1. Initial consultation
We begin by understanding the estate, timeline, and any legal or reporting requirements. This may involve discussion with the executor, family members, or attorney.
2. Review of contents
We assess the property in person, whether it is a house, apartment, or condo. We identify items of value and determine the scope of appraisal work.
3. Appraisal or valuation needs
We distinguish between:
- items requiring formal, documented appraisal
- items suitable for general estate valuation
This keeps the process efficient and appropriate for the situation.
4. Sale planning
If assets will be sold, we advise on the best method:
- estate sale
- auction
- private placement
This ensures valuation aligns with realistic outcomes.
5. Sale and settlement
When needed, we assist with execution and provide guidance through final settlement, helping move the estate toward resolution.