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Our Company

Terzo & Bologna, Inc. was established in 1987 by our founding principals – Frederick C. Terzo and Raymond V. Bologna.


Years ago, Fred and Ray were just two Italian-American guys trying to earn a buck when they kept running into one another at various real estate conferences. Their common heritage and passion for real estate led to late night vino-infused real estate discussions and all things Italy. One night, this friendship turned to a discussion of joining forces in the real estate and valuation scene. Terzo & Bologna, Inc. was born.

After many years of consulting, valuation, and dedicated guidance Fred and Ray are now retired, enjoying life with family and friends.


Since the beginning, well educated and experienced professionals have formed the backbone of the firm. Staff appraisers and counselors have established backgrounds in a range of real estate related fields such as mortgage banking, banking oversight and regulation, brokerage, finance, international valuations, real estate accounting, and property management. The multiple perspectives provided by this professional diversity enhance the quality of analysis that is provided to each client.

Today, the principals of the firm recognize that our clients rely on us because an integral part of effective decision-making is quality advice and timely delivery. Terzo & Bologna, Inc. considers the uniqueness of each property and the scope of each assignment in providing services that are responsive to the specific client needs while stressing the quality and clarity of research, analysis, and conclusions.



Designated Staff Members



Midwest-Based Real Estate Consulting & Appraisal Firm

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