Top Itasca, IL 1031 Exchange Lawyers Near You
Contact a Boone County Real Estate and Short Sales Attorney
20 N Clark St, Suite 3300, Chicago, IL 60602
Bazanos Law P.C., serving clients in the Itasca, Illinois area, a reputable legal practice for 1031 Exchange issues.
1031 Exchange Lawyers | Serving Itasca, IL
641 West Lake Street, Suite 400, Chicago, IL 60661
The Law Offices of James H. Miller Jr. is experienced handling 1031 Exchange cases in the Itasca area.
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33 N. Dearborn Street, Suite 1950, Chicago, IL 60602-3249
321 N Clark St, Suite 500, Chicago, IL 60654
180 N Stetson Ave, Suite 1400, Chicago, IL 60601
200 S Wacker Dr, Suite 600, Chicago, IL 60606
320 S Canal St, Suite 3300, Chicago, IL 60606
33 N Dearborn St, Suite 1430, Chicago, IL 60602
321 North Clark Street, Suite 1000, Chicago, IL 60654
216 S Jefferson St, Suite 601, Chicago, IL 60661
71 South Wacker Drive, 47th Floor, Chicago, IL 60606
70 West Madison Street, Suite 5200, Chicago, IL 60602
1016 W Jackson Blvd, Suite 509, Chicago, IL 60607
227 W Monroe St, Suite 3950, Chicago, IL 60606
2155 W. Roscoe St., Chicago, IL 60618
3478 S Archer Ave, Chicago, IL 60608
141 West Jackson Blvd, Suite 1575, Chicago, IL 60604
20 N Clark St, Suite 1150, Chicago, IL 60602
55 West Monroe Street, Suite 1200, Chicago, IL 60603
320 S Canal St, Suite 3025, Chicago, IL 60606
2040 N Harlem Ave, Elmwood Park, IL 60707
1425 McHenry Road, Suite 204, Buffalo Grove, IL 60089
903 Commerce Drive, Suite 210, Oak Brook, IL 60523
110 N Wacker Drive, Suite 3800, Chicago, IL 60606
10750 W 143rd St, Suite 55, Orland Park, IL 60462
Itasca 1031 Exchange Information
Lead Counsel Verified Attorneys in Itasca
Lead Counsel independently verifies 1031 Exchange attorneys in Itasca 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
Pledge to follow the highest quality client service and ethical standards.
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 Itasca?
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