Trustworthy Guidance for Illinois Investors

Chicago 1031 Exchange Experts

Nationwide replacement property identification with disciplined 45 day and 180 day tracking so your exchange stays compliant, funded, and audit ready.

45 Day identification. 180 Day closing. We help you stay compliant.

Our exchange desk provides daily deadline monitoring, tax coordination, and structured communication across your CPA, attorney, and qualified intermediary.

Nationwide Coverage

All 50 States
24/7 Access
Same-Day Response

Why Choose 1031 Exchange of Chicago

Experienced advisors, disciplined processes, and a nationwide property identification network deliver confidence for Midwest investors managing strict deadlines.

A 1031 exchange defers federal and Illinois income tax on qualifying real property. It does not remove state or city transfer taxes. Review Illinois Transfer Tax and Chicago Real Property Transfer Tax.

How a 1031 Exchange Works

Understand each milestone, coordinate with experienced professionals, and document every step for compliance.

Step 1

Sell the Relinquished Property

Execute your sale, assign the contract to the qualified intermediary, and fund the exchange escrow.

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Step 2

Identify Replacement Properties within 45 Days

Submit written identification under the three property, 200 percent, or 95 percent rules.

Step 3

Close on the New Property within 180 Days

Complete due diligence, coordinate financing, and finalize closing before the 180 day deadline.

Inventory Spotlight

Preview current demand across asset classes. Inventory updates daily with underwriting notes, rent rolls, and sponsor documentation available upon request.

DST or TIC interests may involve securities. We do not sell securities. We provide introductions to licensed providers only.

Property Types

Evaluate property classes that align with your income targets, risk tolerance, and geographic strategy. Each option includes underwriting summaries and market data.

Explore property types

Chicago Coverage with Nationwide Reach

We manage exchanges for investors across the Chicago metropolitan area while sourcing replacement properties nationwide. Local insight pairs with nationwide relationships to keep every exchange compliant.

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1031 Exchange Tools

Use our interactive tools to calculate boot, estimate exchange costs, and validate identification rules for your 1031 exchange.

Frequently Asked Questions

Straightforward answers help you prepare documentation, align advisors, and keep every decision compliant with IRS guidelines.

What are the 45 day and 180 day rules for a 1031 exchange?
You must identify potential replacement properties in writing to your qualified intermediary no later than day 45 after the relinquished property closes. The exchange must be fully closed and title transferred to a replacement property by day 180. Extensions are not granted for weekends or holidays unless the IRS issues specific disaster relief.
What qualifies as like kind real property?
Like kind real property includes most real estate held for investment or productive use in a trade or business. Residential rentals, commercial buildings, industrial facilities, land, and certain long-term leasehold interests are typically eligible. Personal residences, inventory, and partnership interests do not qualify.
What is boot and how is it taxed?
Boot refers to non like kind property received in the exchange, such as cash, debt relief, or personal property. Boot is taxable as gain in the year of the exchange. We document each source of potential boot so your tax advisors can calculate the correct federal and Illinois tax impact.
How do Illinois and Chicago transfer taxes apply in a 1031 exchange?
Illinois and Chicago transfer taxes still apply even when federal and state income taxes are deferred. Budget for the Illinois Real Estate Transfer Tax and City of Chicago Real Property Transfer Tax, along with any county or municipal fees. Our team aligns with your closing agents to ensure timely filing.
Can I perform a reverse exchange?
Yes. A reverse exchange allows you to acquire the replacement property before selling the relinquished property. It requires an exchange accommodation titleholder and careful lender coordination. We assemble teams familiar with Revenue Procedure 2000-37 and bank requirements in advance.
How do I report the exchange on IRS Form 8824?
IRS Form 8824 is filed with your tax return for the year of the exchange. It reports the properties involved, timelines, basis calculations, and any boot. We provide transaction summaries so your CPA can complete Form 8824 accurately and retain supporting documentation for audit readiness.

Start Your 1031 Exchange Plan

Provide your transaction details so we can coordinate with qualified intermediaries, attorneys, and national property sponsors. Every inquiry receives a tailored action plan within one business day.

Office and Contact

1031 Exchange of Chicago
1755 N Damen Ave, Chicago, IL 60647

Mon–Fri 9am–6pm CT

Contact 1031 Exchange Chicago

Ready to start your 1031 exchange? Our Chicago team specializes in connecting investors with compliant replacement properties across Illinois.

Start Your Exchange Plan

Primary investor or advisor name

We send a confirmation and documentation checklist

We confirm timelines by phone within one business day

Company or organization name (optional)

Select the service you're interested in

Primary metro or submarket (optional)

When do you plan to start your exchange?

Include property type, location, and estimated value (optional)

Determines your 45 day and 180 day milestones (optional)

Outline goals, replacement preferences, or coordination needs (optional)

Educational content only. Not tax or legal advice.

Chicago Office

1031 Exchange Chicago

233 S Wacker Dr

Chicago, IL 60606

Hours

Monday - Friday: 9:00 AM - 6:00 PM CT

24/7 emergency support available

Our Location

Ready to Get Started?

Contact our team to discuss your 1031 exchange needs in Chicago, IL. We'll help you navigate the 45-day identification deadline and 180-day closing requirement.