Chicago Opportunity Zones
The Qualified Opportunity Zone incentive is part of the Tax Cuts & Jobs Act of 2017 and is the largest new federal economic development program enacted in years. There are 181 Opportunity Zones in Cook County that offer several tax benefits to investors that could spur substantial new capital influx into targeted neighborhoods within Chicago and Cook County.
How the Qualified Opportunity Zone program works
Benefit 1: Defer Capital Gains
When you invest your capital gains in a Qualified Opportunity Fund, you can defer those gains until December 31, 2026.
Benefit 2: Reduce Capital Gains
When you invest your capital gains in a Qualified Opportunity Fund, you can reduce your capital gains by up to 15% after a 7-year holding period.
Benefit 3: Avoid Capital Gains Tax
You pay zero capital gains taxes on your appreciation (exclusive of original capital gains invested) within a Qualified Opportunity Fund after a 10-year holding period.
OPPORTUNITY ZONES: By the Numbers
8,764 CENSUS TRACTS
The total number of census tracts certified as Opportunity Zones by the U.S. Treasury.
Potential unrealized capital gains eligible for Qualified Opportunity Fund investment and tax treatment.
$ 100 BILLION
Treasury Secretary Steven Mnuchin’s estimate of private capital that will flow into Opportunity Zones.
Contact Ashley to discuss your goals and see if this investment strategy might benefit you. Not only can QOF investments diversify your portfolio potentially bringing higher returns, they can also help you make a positive difference in your community.