Quick tips on buying investment properties in Chicago through the Opportunity Zone program:

August 7, 2022

Reading time: 2 minutes

When advising my clients looking to purchase properties in Opportunity Zones I recommend considering the following items:

  1. 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.
  2. Research the area – Research the area you are looking to invest in to understand the local market, economic trends, and the area’s investment potential.
  3. Understand the tax implications – Make sure you understand the tax implications of investing through the Opportunity Zone program, as well as any other tax breaks that may be available.
  4. Take advantage of incentives – Look for additional incentives such as credits, deductions, and exemptions that may be available for investing in Opportunity Zones.
  5. Have a plan – Have a plan in place for your investment, such as how long you plan to hold the property and when you plan to sell.
  6. Choose the right property – Make sure you do your due diligence on the property you are interested in to determine if it is a good fit for your investment goals.
  7. Form a partnership – Consider forming a partnership with an experienced real estate investor or developer in the area to help you navigate the process.
  8. Get professional help – Make sure to consult a financial advisor or real estate attorney to help.
Ashley Dillard, CCIM

Senior Director

Ashley has an extensive knowledge of the Chicago commercial real estate market. After graduating from University of Kansas with a degree in architectural studies, she worked in Kansas City as a commercial leasing agent at a 2.1 million square foot office park. While working for an institutional owner, she learned valuable skills such as client reporting, communication and accountability.


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Opportunity Zones By The Numbers


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.


Treasury Secretary Steven Mnuchin’s estimate of private capital that will flow into Opportunity Zones.