Company Team
Applied Real Estate Analysis, Inc.
914 S. Wabash
Chicago, Illinois 60605

phone 312.461.9332

fax 312.461.0015

© 2003-08 AREA, Inc.

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Maxine V. Mitchell, CRE

Company president Maxine Mitchell founded Applied Real Estate Analysis, Inc. in 1985. With over 25 years of experience in real estate market analysis and public policy planning, she has completed a wide range of economic and financial feasibility studies for residential, commercial, institutional, and industrial development for both public and private sector clients.

Ms. Mitchell's work in public policy planning encompasses such subjects as urban growth patterns, property taxation, low- and moderate-income housing development, central area revitalization, residential rehabilitation financing, and the development and implementation of neighborhood revitalization strategies.

Before establishing AREA, Ms. Mitchell was Senior Vice President and Director of the Chicago office of Comprehensive Marketing Systems and an Assistant Vice President with Real Estate Research Corporation.

Ms. Mitchell earned a Master's degree in City Planning from the Massachusetts Institute of Technology and a Bachelor of Arts degree in Economics from Northwestern University. She currently serves on the Board of Trustees of the Chicago Architecture Foundation and on the Board of the Chicagoland Redevelopment Institute. Ms. Mitchell was elected to membership in The Counselors of Real Estate (CRE), an honorary organization of real estate counselors, and in the Ely Chapter of Lambda Alpha International, an honorary land economics society.

Robert E. Miller
Senior Vice President

Robert Miller is a real estate analyst and city planner with over 20 years of experience conducting market analyses, preparing economic development strategies, and developing neighborhood revitalization programs.

Mr. Miller's knowledge of and experience in analyzing markets for a wide range of land uses have frequently enabled him to devise creative approaches to the reuse of existing structures and the development of vacant or underutilized land. In addition to traditional residential, retail, office, industrial, and hotel market analyses, he has examined markets for convention centers, performing arts centers, marinas, medical facilities, a historical museum, and other special uses.

For public agencies, Mr. Miller's consultations have encompassed economic impact analyses and strategies for economic development, central area revitalization, and neighborhood commercial development. He also has extensive experience in analyzing the relationship between transit, land use, and development potential. His experience in this area has included designing and conducting large-scale surveys of transit riders, airplane passengers, and airport employees.

Before joining Applied Real Estate Analysis, Mr. Miller was a Vice President with Real Estate Research Corporation. He also served as a planner for the State of Michigan's Office of Historic Preservation. Mr. Miller holds a Master's degree in Regional Planning from Cornell University and a Master of Arts degree in American History from Pennsylvania State University.

Maria-Alicia Newsome Serrano
Assistant Vice President

Maria-Alicia Newsome Serrano provides AREA with extensive knowledge of and experience in the public housing industry. She is a public policy researcher with expertise in housing policy research, public housing policy development and implementation, and strategic planning and reporting. Her work at AREA includes national studies on homeownership programs for low- and moderate-income families; residential market analysis for Low-Income Housing Tax Credit applications; and research on the existing and projected demand for age-restricted and income-restricted housing.

Before joining AREA, Ms. Newsome Serrano was a Senior Policy Analyst Manager at the Chicago Housing Authority (CHA). She worked on a number of projects, serving as the project manager for the development of the CHA annual plans and reports for the Plan for Transformation—the CHA's Moving to Work Demonstration Program; setting the schedules for building closures and consolidations to prepare for public housing redevelopment and rehabilitation; and monitoring pending and approved public housing and HCV programs regulations, legislation, and government notices.

Ms. Newsome Serrano holds a Bachelor of Arts degree from the University of Chicago and a Master of Public Affairs degree with a concentration in Urban Management from the School of Public and Environmental Affairs (SPEA) at Indiana University. While attending SPEA, she served as a teaching assistant in the undergraduate public affairs program.

A. Andy Prodanovic, MAI
Director of Valuation

Andy Prodanovic has been active in real estate appraising since 1977. His experience includes valuation of fee simple, leased fee, and leasehold interests; debt, equity, and hybrid debt positions; fractional interests; easements; railroad rights-of-way; and mixed-use properties.

Mr. Prodanovic has completed valuations, market studies, and highest-and-best-use analyses of CBD office buildings, regional malls, apartment complexes, super-regional malls and community shopping centers, power centers, industrial parks, and business parks.

Before joining Applied Real Estate Analysis, Mr. Prodanovic was Managing Director of Gloodt Associates, Inc. He was also Senior Vice President and Co-Director of the Chicago office of Real Estate Research Corporation. Mr. Prodanovic earned his Bachelor of Arts degree in Real Estate and Marketing from the University of Wisconsin and is a designated Member of the Appraisal Institute (MAI).

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