Top Evanston, IL 1031 Exchange Lawyers Near You
Contact a Boone County Real Estate and Short Sales Attorney
1 North LaSalles St, Suite 2015, Chicago, IL 60602
53 W. Jackson, Suite 1734, Chicago, IL 60604
1771 Bloomingdale Road, Glendale Heights, IL 60139-2168
30 South Stolp Avenue, Suite 402, Aurora, IL 60506
20 N. Clark Street, Suite 2720, Chicago, IL 60602
8501 West Higgins Road, Suite 440, Chicago, IL 60631-2811
53 W Jackson Blvd, Suite 1115, Chicago, IL 60604
2610 Lake Cook Road, Suite 200, Deerfield, IL 60015
77 W Wacker Dr, Suite 4500, Chicago, IL 60601
2800 West Higgins Road, Suite 160, Hoffman Estates, IL 60169-7221
10231 South Western Avenue, 1st Floor, Chicago, IL 60643
127 S. Wheeling Road, Wheeling, IL 60090
134 North LaSalle Street, Suite 2100, Chicago, IL 60602
625 W. Adams St, Chicago, IL 60661
1440 Renaissance Drive, Suite 230, Park Ridge, IL 60068
Three First National Plaza, 70 West Madison Stree, Suite 1400, Chicago, IL 60077-1039
111 West Jackson Blv, Suite 1700, Office 17020, Chicago, IL 60604
70 W. Madison Street, Suite 4200, Chicago, IL 60602
70 West Madison Street, Suite 5400, Chicago, IL 60602
PO Box 6252, Chicago, IL 60680
500 W Madison St, Suite 1000, Chicago, IL 60661
30 S Wacker St, Suite 2200, Chicago, IL 60606
71 S Wacker Dr, Suite 1600, Chicago, IL 60606
222 W Adams St, Suite 3400, Chicago, IL 60606
200 W Madison St, Suite 2700, Chicago, IL 60606
Evanston 1031 Exchange Information
Lead Counsel Verified Attorneys in Evanston
Lead Counsel independently verifies 1031 Exchange attorneys in Evanston and checks their standing with Illinois bar associations.
Our Verification Process and Criteria
Ample Experience
Attorneys must meet stringent qualifications and prove they practice in the area of law they’re verified in.
Good Standing
Be in good standing with their bar associations and maintain a clean disciplinary record.
Annual Review
Submit to an annual review to retain their Lead Counsel Verified status.
Client Commitment
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What Is a 1031 Exchange?
A “1031 exchange” refers to section 1031 of the U.S. Internal Revenue Code, which allows you to defer capital gains taxes on some real estate transactions. Also known as a “tax-deferred exchange,” you will be able to defer any capital gains taxes when selling a home as long as you are buying another home that costs more. You can also do this for business property investment. Many property exchanges qualify as a 1031 exchange as long as you are holding the property for investment or business use, giving you significant tax savings.
What Are Some Examples of Situations Where I Might Need a Real Estate Lawyer To Help With a 1031 Exchange?
While a common tax savings tactic for real estate investors, making sure your 1031 exchange goes smoothly may require a lawyer’s attention to detail and knowledge of the law. Consult with your real estate lawyer if you are considering purchasing a new piece of real estate investment property or seeking a new business property.
How Can a Real Estate Lawyer Help Me?
A real estate lawyer can help you through the real estate process. With so much money on the line, it is wise to work with a lawyer to protect your investment. A real estate lawyer can help with:
- Breach of contract claims
- Property insurance claim denials
- Title disputes
- Zoning restrictions
- HOA restrictions
- Negotiating commercial lease agreements
- Handling property tax matters
What Could Happen if I Don’t Hire a Real Estate Lawyer?
If you don’t hire a real estate lawyer, you could be putting your home or business at risk. Problems with a real estate deal can quickly spiral out of control, costing you tens of thousands of dollars or more. Property ownership or title disputes can cost you your home. Without a real estate lawyer, you could face:
- Property and zoning restrictions
- Property tax penalties
- Breach of contract claims
- Environmental remediation costs
What Questions Should I Ask When Trying To Find a Real Estate Lawyer in Evanston?
These questions can help you decide if you feel comfortable and confident that a lawyer has the qualifications, experience, and ability to manage your case. Many real estate lawyers offer an initial consultation that allows you to understand your options and get specific legal advice before hiring them. The top questions to ask include:
- What is your experience in handling real estate cases in Illinois?
- Have you represented property owners in cases like mine?
- What are potential issues that can come up during the property purchase?
- How will you keep me informed about updates in my case?
- What is the likely timeline for resolving my case?
- What is your fee structure for legal representation?
Tips for Hiring a Real Estate Lawyer
Take the time to find a real estate attorney who is right for you and will represent your best interests. Find a lawyer who understands your case, knows your needs and goals, and has the experience to get the best outcome. Things to do:
- Ask for recommendations
- Research lawyers online
- Schedule consultations
- Review experience and expertise
- Talk about fees and billing
- Trust your instincts