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Staff Qualifications
Russ G. Manternach, MAI
Patrick J. Schulte, MAI
Karen C. Olson, MAI
David J. Fuglsang, MAI
Cole W. Manternach

Russ G. Manternach, MAI

Master of Business Administration
Creighton University, Omaha, Nebraska
December, 1992

Bachelor of Business Administration
Iowa State University, Ames, Iowa
December, 1989

Professional experience includes 30 years as a commercial real estate appraiser. Russ co-founded Commercial Appraisers of Iowa, Inc. in 2001 after eight years with Iowa Appraisal and Research Corporation. Our company acquired the appraisal firm Carlson, Gunderson & Associates, Inc. during 2010.


The following is a partial list of property types appraised and experience:

Eminent Domain Projects Industrial
Multiple Family Residential  Restaurants 
Conventional and Medical Office      Mini-storage Facilities 
Subdivisions/Vacant Land Churches
Automobile Dealerships  Special Use Properties
Mobile Home Parks Retail Properties
Motel/Hotels Air Rights
Other Income Producing Properties    Expert Witness Testimony 

Russ G. Manternach, MAI
3737 Woodland Avenue
Suite 320
West Des Moines, Iowa 50266
Phone 515/288-6800
Fax 515/288-6810

Appraisal Coursework

Standards of Professional Practice, Part A Business Practices and Ethics
Standards of Professional Practice, Part B Current Government Policies Affecting Real Estate 
Advanced Income Capitalization Real Estate Appraising -Response to Financial Disaster
Highest and Best Use and Market Analysis Case Study - Eminent Domain
Advanced Sales Comparison and Cost Approaches  Ethics and Appraisal Review
Report Writing and Valuation Analysis Right of Way Best Practices
Advanced Applications Eminent Domain and Condemnation

Professional Affiliations
Designated MAI - Appraisal Institute
Appraisal Institute - Iowa Chapter – Former Board of Director
International Right of Way Association

State Certification
Certified General Real Property Appraiser, State of Iowa.  Certificate No. CG01775.

Commercial Appraisers of Iowa, Inc.    3737 Woodland Avenue | Suite 320    West Des Moines, Iowa 50266    Phone 515/288-6800 | Fax 515/288-6810

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