Illinois 1031 Exchange Requirements

1031 Exchange Properties
Largest selection of 1031-TIC Properties. Up-to-the-minute USA Database.
/landing/property

1031 Exchange Experts
Learn from the experts. Gain access to select TIC Properties Nationwide.
/landing/experts

1031 Exchange-REIT
Learn about 1031-REIT Exchanges. Exchange into a REIT 100% Tax Free!
/landing/REIT

1031 Oil and Gas
Increase Cash Flow, Decreased Risk, Inflation Hedge, Diversification.
/landing/oil_gas

1031 Exchange-TIC Info
Difficulty Finding NNN Property? Consider NNN Tenant in Common.
/landing/tic

Illinois 1031 Exchange Requirement

Four requirements for all illinois 1031 exchanges and tenancy in common exchanges:

One hundred percent of the value of the relinquished illinois commercial real estate must be reinvested in the like kind illinois commercial real estate or illinois commercial real estate at the time of the exchange.

The amount of equity held in the relinquished illinois commercial real estate must be less than the amount of equity held in the new, replacement illinois commercial real estate or illinois commercial real estate.

Third Illinois 1031 Exchange Requirement: exchangers must use a Qualified Intermediary in order to hold all proceeds and maintain the integrity of the exchange. It is worthy to note that this person is NOT allowed to give any legal or investment advice during the transaction.

Fourth Illinois 1031 Exchange Requirement: exchanged illinois commercial real estate must be like kind illinois commercial real estate, as defined by the IRS. Any Like-Kind illinois commercial real estate is one which is held for productive use in a trade or business or held for investment purposes.

So many illinois 1031 exchanges into tenancy in common ownership are so successful because they are facilitated by an illinois 1031 advisor. Contact us today to complete your illinois 1031 exchange.