Theofanis Nicholas

Theofanis Nicholas, MAI
Theofanis Nicholas, MAIDirector, Real Estate
Theo joined CVA in 2023. Drawing on nearly 25 years of experience in the valuation of commercial real property, Theo focuses on solving client real property valuation needs. Theo has completed numerous valuation and review engagements focused on the valuation of commercial real property located throughout the United States, Canada, Mexico, Asia, Australia, Europe, the Middle East, and South America. He has provided real property valuations of various types of ownership interests and premises of value, for purposes of accounting and financial reporting; restructurings and recapitalizations; lending support; estate planning; litigation support; internal decision-making and audit support.

Property types appraised include industrial – warehouse, distribution and manufacturing; special use industrial – cold storage/refrigerated warehouse-distribution/food production facilities, chemical plants, mineral and oil refineries, mining operations, foundries, lumber and contractor yards, saw-mills, wholesale nurseries, agri-business, engineering and R&D labs; commercial – freestanding retail, shopping centers, big-box retail, restaurant, day care and grocery stores; office – single and multi-tenant professional office, medical office and out-patient care facilities; and vacant land.

Theo began his career in commercial real property valuation in 2001 with Hilco Real Estate Appraisal, LLC where he spent the next 12+ years as a Senior Appraiser. Throughout the next decade Theo held various positions with CBRE Valuation & Advisory, Inc.; Stout Risius Ross, LLC- Valuation Advisory, Real Estate; PwC, LLP – Financial Markets & Real Estate and most recently BDO USA, LLP – Valuation & Capital Market Analysis, Real Estate.


Northern Illinois University, Bachelor of Science – Finance

Designated Member of the Appraisal Institute (MAI)


Avid Chicago sports fan (Cubs, Bulls, Blackhawks, Bears… and ok the White Sox too), spending quality time with friends and family, live music and comedy clubs.

Phone: 312.965.4891

Email: [email protected]