Specifications include, but are not limited to: The scope of work includes a number of independent investigations and analysis including an observation of the property on January 5, 2023. This appraisal includes the real estate only. It does not include any furniture, fixtures, or equipment. It also does not include any inventory or personal property located on the premises. Finally, this appraisal does not include the market value of the going concern (if any) of the property. Site size and dimensions are obtained from the certified survey map and other public records outlining the property. Building size and dimensions are obtained from my measurements of the building exterior walls as taken during my onsite visit to the property. Research sources utilized to gather data regarding the subject include the Rusk County Register of Deeds and Treasurer Offices; the city of Ladysmith Zoning and Assessor Offices; other public records; representatives of the property owner; and from my personal observation as part of this appraisal assignment. Research sources utilized to gather general market data include the Northwest Wisconsin and Northstar Multiple Listing Service agencies (MLS), Marshall Valuation Service, Price Waterhouse Coopers Real Estate Investor Survey, CoStar sales database, the Wisconsin Department of Revenue sales database, RealtyRates.com, other real estate professionals located throughout the area, and the internal records database of this appraisal office. The research sources used are sufficient for the discovery of comparable market data to provide a reliable value opinion for the property being appraised.