Appraisal pioneer Eugene Stunard passes away

Eugene W. Stunard, MAI has passed away at the age of 86. The legendary appraiser co-founded Appraisal Research Counselors, one of the largest independent valuation firms in the United States, in 1968 with his wife, Joan Stunard.

According to Crain’s, Stunard died March 23 at Northwestern Memorial Hospital following post-appendectomy respiratory failure. Though active on a national scale with office, retail, hotel, nursing homes and industrial properties, Stunard was a major participant in the early development of the Chicago residential condominium market through pioneering appraisal, research and counseling.

After graduating from the University of Illinois in 1954 with a B.S. in urban land economics, Stunard joined Prudential Insurance Company of America as a a regional appraiser. In 2017, the firm he launched with his wife, Appraisal Research Counselors, became a part of Denver-based Integra Realty Resources, where he served as managing director.

Stunard was an instructor for Triton College, the Society of Real Estate Appraisers and the American Institute of Real Estate Appraisers (both now the Appraisal Institute). He also served with the Chicago Association of REALTORS and Lambda Alpha International. The London Chapter of Lambda Alpha was created while Stunard served two years as international president.

In addition to numerous other honors and awards, Stunard served on advisory boards for Triton College and John Marshall Law School, as well as being on the board of directors for the Harbor Point Condominiums and a member of the Oak Park Plan Commission. He was honored in 2006 with his selection to the Chicago Association of REALTORS Hall of Fame.