News Articles & Announcements
Chicago Firm Closes $310 Million Opportunity Zone Fund, Plans Another Amid Economic Challenges
In the midst of prevailing market circumstances, investment capital continues to flow into Opportunity Zone ventures. A prime example of this trend is the Chicago-based Origin Investments, which recently managed to successfully close a substantial $310 million fund. This impressive achievement showcases the sustained interest in and support for Opportunity Zone investments, even amidst challenging […]
Ashley Dillard, CCIM
May 9, 2023
What are the benefits of owning a property in an Opportunity Zone?
There are many reasons why investing in Opportunity Zones is beneficial. Here are my Top 5: 1. Tax Benefits: Investors can defer and potentially reduce their capital gains taxes if they reinvest their gains into an Opportunity Zone. 2. Long–term Appreciation: Investors can benefit from the potential long–term appreciation of their properties due to the […]
Ashley Dillard, CCIM
November 9, 2022
Quick tips on buying investment properties in Chicago through the Opportunity Zone program:
When advising my clients looking to purchase properties in Opportunity Zones I recommend considering the following items: Know the Opportunity Zones – Make sure you understand the different types of Opportunity Zones in the Chicago area, and which ones provide the best investment opportunities. Research the area – Research the area you are looking to […]
Ashley Dillard, CCIM
August 7, 2022
OZs Produced an Extra 2.2% Per Year in Neighborhood Home Price Appreciation
Opportunity Zones prove to have a meaningful economic impact on single-family home prices as well as commercial property prices. The article below from GlobeSt.com outlines the impact. Three years ago, the Tax Cuts and Jobs Act of 2017 created a provision, known as qualified opportunity zones, to rejuvenate economically distressed communities across the US and […]
Ashley Dillard, CCIM
June 30, 2021
IRS Will Not Change OZ Boundaries
OZ investors no longer need to be concerned about a possible change in zone boundaries after the 2020 census. The Internal Revenue Service has issued a statement that says opportunity zone boundaries as they were established by the 2017 tax cut law will not be changed by any finding of the 2020 census. In the […]
Ashley Dillard, CCIM
May 14, 2021
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 […]
Ashley Dillard, CCIM
March 25, 2021
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 […]
Ashley Dillard, CCIM
February 18, 2021
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
Ashley Dillard, CCIM
January 25, 2021
2021 OZ Deadline Extensions
The IRS recently issued Notice 2021-10, which automatically extends several deadlines that had previously been extended under Notice 2020-39 issued on June 4, 2020 and Notice 2020-23 issued on April 9, 2020. Perhaps most notably, the new notice extends the 180-day investment period for many investors to March 31, 2021. Last year’s Notice 2020-39 had granted an extension to December […]
Ashley Dillard, CCIM
January 20, 2021
What Does the 2020 Election Result Mean for Opportunity Zones?
Whether Donald Trump or Joe Biden wins the presidential election this week, commercial real estate can expect the opportunity zone program will remain intact but receive some tweaks. That will likely include some reforms and new reporting requirements no matter what, but which man holds the office could determine if the program grows or shrinks […]
Ashley Dillard, CCIM
November 3, 2020
The Role of Family Offices in Opportunity Zone Investment
Launched more than a year ago as part of US President Donald Trump’s tax changes, Qualified Opportunity Zones have already caused plenty of discussion among wealth managers. To some degree, they dovetail with the trend of “impact investing” by targeting disadvantaged communities. These are designed to put money and resources into poorer parts of the […]
Ashley Dillard, CCIM
September 18, 2020
Qualified Opportunity Zones vs 1031 Exchanges
As people learn more about Opportunity Zones, I continue to get more and more questions about the differences between a 1031 exchange and a Qualified Opportunity Fund (“QOF”) investment. When you should you choose a 1031 and when should invest in an Opportunity Zone? To figure out which might be the best option for your […]
Ashley Dillard, CCIM
May 18, 2020
West Side Opportunity Zone Meeting
Last Friday I was honored to be included in the West Side Opportunity Zone Meeting hosted by the City Clerk of Chicago, Anna Valencia. The event not only generated support from several local interest groups, but also featured presentations by Alderman Michael Scott, Cook County Commissioner Dennis Deer and Illinois Medical District CEO, Dr. Suzet […]
Ashley Dillard, CCIM
April 5, 2020
Highlights of the Final Opportunity Zone Regulations
IRS Finalizes OZ Regulations The much-anticipated finalization of the rules governing Qualified Opportunity Zone investing have received official approval. The consensus is that they provide the necessary clarifications for investors to confidently move forward. The proposed regulations include several general clarifications including: what types of property qualify as Qualified Opportunity Zone Business Property, guidance on […]
Ashley Dillard, CCIM
December 18, 2019
IRS Finalizes OZ Regulations
The long-awaited finalization of the rules governing opportunity zone investing are finally ready — but there’s one final step. On Friday, December 6th, the IRS and Treasury Department submitted their final set of regulations to the Office of Management and Budget, which will now review them before they can be released to the public. The […]
Ashley Dillard, CCIM
December 8, 2019
Looming Opportunity Zone Deadline
December 31, 2019 marks an important deadline for opportunity zone investors: this is the last day on which they can make an investment in a qualified opportunity fund and get the full benefit of the program. Created as a vehicle in which investment flows to opportunity zones to reap the highest possible tax benefit on […]
Ashley Dillard, CCIM
November 6, 2019
Connect Opportunity Zone Summit
The Connect Opportunity Zone Summit took place in New York on October 23rd. The issues of purposeful, impact investment was a big topic as the long-term hold of these investments makes working with the communities imperative. The experts not only discussed what is currently happening with QOZ but also re-examined what the goals of the […]
Ashley Dillard, CCIM
October 25, 2019
Ben Carson Announces New Program with Section 220 Mortgage Insurance
On August 9, 2019 the Opportunity Zone Expo came to New York with Ben Carson, the Secretary of the Department of Housing and Urban Development, and Scott Turner, Executive Director of the White House Opportunity & Revitalization Council, as keynote speakers and a myriad of educational panels, moderated by industry experts. The Opportunity Zone Expo […]
Ashley Dillard, CCIM
August 9, 2019
Statement from SEC Chairman, Jay Clayton, on Opportunity Zones
The SEC Chairman Jay Clayton recently issued a statement about working to simplify the path for certain Opportunity Zone investments by Main Street Investors. Although the statement doesn’t provide many details, it’s promising to see support of this concept. Keep checking back here for updates as I’ll continue to track the progress of this update. […]
Ashley Dillard, CCIM
July 15, 2019
Chicago Association of Realtors Commercial Forum Opportunity Zones Summit
As “Opportunity Zones” become more of a buzz word, people are interested in learning more. Today, I attended the Chicago Association of Realtors Commercial Forum Opportunity Zones Summit which had a tremendous turnout. The presentation opened with a fireside chat with Steve Glickman of Develop, LLC, an advisory firm dedicated to building and supporting Opportunity […]
Ashley Dillard, CCIM
June 19, 2019