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- Eric Hanis
- Tags: Remediation
What is a Soil Vapor Extraction System? Soil vapor extraction (SVE) is an in-situ remediation method used for cleaning up soil and removing vapor from below the surface. Vapor extraction occurs with the aim of treatment above the ground. Cleansing of vapor recovered from the subsurface involves recovering or destroying the pollutants. When contaminant chemicals […]
- Eric Hanis
- Tags: Phase I ESA
A Phase I Environmental Site Assessment (ESA) report investigates a property’s current condition and historical use. Its purpose is the assessment of the potential liability of a new owner due to the presence of hazardous materials. It serves in real estate transactions such as land and building purchases, leases, and bank loans for commercial real […]
What’s the Risk?: Breaking Down Environmental Liability Environmental liability seems to be this abstract concept… until it happens. Here is how it usually happens. You decided to purchase some commercial real estate. You find the perfect property for your business and talk to the bank about getting a loan. You submit all your financial statements […]
Phase I Environmental Site Assessment (ESA) costs vary due to location, size of the property, the history of the property and the consultant performing it; however, they typically range from $2,000 to $3,500 or more. We will breakdown what drives Phase I ESA costs, what to look for and what to look out for when […]
I was honored to be named a “Chicagoan to Know” by Ankin Law. We had an interview where I was able to speak about how Hanis Consulting came to be realized, and how we help our clients. You can check out the 3-minute recording HERE.
- Eric Hanis
- Tags: Phase I ESA
( Click here for Part 1, Click here for Part 2 ) Phase I ESA Report: Once the environmental professional has performed the appropriate records review, site reconnaissance, and key site personnel interviews, the report can be prepared and issued. The Phase I ESA report should follow the ASTM International Standard Practice for a Phase I Environmental Site Assessment. […]
- Eric Hanis
- Tags: Phase I ESA
( Click here to access Part 1 ) What does a Phase I ESA contain? If you have ever had a Phase I ESA performed or looked at the report, you know they are large documents to say the least. These reports can be incredibly overwhelming if you do not have a basic understanding of the report, […]
- Eric Hanis
- Tags: Phase I ESA
Phase I ESA – A Primer Here at Hanis Consulting we get asked a lot, what is a Phase I ESA is and why is it needed? A Phase I ESA must cover specific criteria to be “All Appropriate Inquiry,” (or AAI) compliant. If there are any deficiencies with the Phase I ESA, the User, […]
- Category: Real Estate Transactions
- Eric Hanis
- Tags: Phase I ESA
Environmental due diligence gives the seller an opportunity to correct any issues prior to listing the property, that the buyer’s consultant would likely find. This gives the seller the opportunity to increase the asking price for the property. To give a parallel example, it’s like knowing you need to re-roof your home in order to […]
- Eric Hanis
- Tags: Phase I ESA
In addition to being protected from financial liabilities, environmental due diligence can be a useful tool for buyers wanting to get the best investment value for a property. Knowing environmental risks at a property prior to purchasing can be used to the buyer’s advantage in negotiations, while not understanding environmental risks can be costly later. […]
