Specifications include, but are not limited to: CTA owns and leases or operates and maintains rapid transit rail rights-of-way, as well as numerous rail repair shops, storage yards, rail stations, bus garages, electrical substations, concessions, and park-and-ride lots. Most CTA rail stations contain retail concessions, and some CTA-owned buildings contain retail stores. CTA also purchases and leases property and disposes of surplus property through public bidding. All of these activities require the services of an Appraiser. a. Property types for which CTA has frequently obtained appraisals include: i. Vacant and Improved Properties ii. Eminent Domain/Condemnation Sites iii. Historical Preservation Sites iv. Industrial and Railroad Properties v. Parking Lots and Parking Decks vi. Air Rights vii. Lease Values viii. Easements ix. Encroachments 2.3.7 CTA will issue assignments for appraisal services. In response, the firm must appraise all indicated parcels, applying recognized professional principles of valuation. The Appraiser must make any inspections and investigations necessary to prepare an opinion of property value and to complete an Appraisal Report to the full satisfaction of the CTA. All building structures, fixtures and other improvements to the property must be appraised. If applicable, each Appraiser must comply with specific instructions.