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.

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How the Qualified Opportunity Zone Program Works

The Qualified Opportunity Zone (“QOZ”) program seeks to encourage investment and stimulate economic growth in certain distressed communities by providing various federal income tax benefits to taxpayers who invest in real estate and businesses that operate within these zones.

Investment Timeline

When you invest your capital gain in a Qualified Opportunity Fund, you can defer those gains until December 31, 2026

5 Year
5 Year Hold

After a 5-year holding period taxable basis decreases by 10%


7 Year Hold

After a 7-year holding period taxable basis decreases by 15%

7 Year

10 Year
10 Year Hold

After a 10-year hold Opportunity Fund gain become tax exempt (exclusive of original capital gains)

Opportunity Zones By The Numbers

8,764 CENSUS TRACTS

The total number of census tracts certified as Opportunity Zones by the U.S. Treasury.

$6.1 TRILLION

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.

News Articles & Announcements

OZ Roadmap – Navigating the New Lines of the 2020 Census Tracts

Since the new 2020 census tracts were released, OZ investors have wondered if they will affect current and future OZ boundaries.  The short answer is – we don’t know yet.  For more information on what to expect and when we can expect clarification please see the article below from opportunityzone.com: OZ Roadmap – Navigating the […]

Benefits of Multifamily Investments in Qualified Opportunity Zones

The substantial tax advantages provided by the Tax Cuts and Jobs Act (TCJA) will likely lead to a significant influx of capital to multifamily investments in Opportunity Zones. In addition to traditional equity and large institutional investors, Opportunity Zones have opened the door to a whole different group of investors. With this new program, small […]

A New Beginning for Chicago’s Michael Reese Hospital

The former Michael Reese Hospital site is one of the high-profile, closely watched Opportunity Zone sites in Chicago.  A new joint venture has been formed to develop the Chicago ARC Innovation Center at the location.  Please see the article below for more details. Read more:  A New Beginning for Chicago’s Michael Reese Hospital