Real Estate Law: Illinois 1031 Exchanges

Cari RinckerBusiness Law, Food & Ag Law, Real Estate Transactions

Illinois 1031 Exchange: A 1031 exchange allows Illinois real estate investors to postpone capital gains taxes by investing sale proceeds of a property in a like-kind property. The strategy preserves capital, increases cash flow, and grows investment portfolios. Requirements Like-Kind Property: Must be for investment or business purposes (e.g., rental buildings, commercial property). Qualified Intermediary (QI): Must conduct the transaction; …

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