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To complete a 1031 exchange in Calumet City, IL, you must work with a qualified intermediary to hold your funds and sign an agreement. At 1031 Nationwide, we can provide the expertise and support you need to ensure a successful exchange.
To participate in a 1031 exchange, you must first sell your existing property, which is known as the “relinquished property.” All deadlines for the exchange process are based on the closing date of the relinquished property, not the contract date.
Once you’ve sold your relinquished property, the next step in a 1031 exchange is to identify potential replacement properties to buy. This is a crucial step in the exchange process, and it must be completed within 45 days of the sale of the relinquished property.
The final step is to purchase the replacement property within 180 days of selling the relinquished property. This six-month window allows you to find and close on a suitable replacement that meets your investment goals and the exchange requirements.
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At 1031 Nationwide, our mission is to help you achieve your investment goals, while minimizing your tax liabilities and simplifying the 1031 exchange process. We understand that navigating a 1031 exchange in Calumet City, IL can be complex and time-consuming, but with our expertise and experience, we can guide you every step of the way.
Our team of qualified intermediaries has helped countless investors across the country successfully complete their 1031 exchanges, unlocking new opportunities for growth and financial freedom. We offer personalized guidance and support throughout the entire process, from identifying potential replacement properties to closing the deal.
At 1031 Nationwide, we understand that completing a 1031 exchange can be a complex and daunting process. That’s why we offer a range of services to simplify the exchange process and help…
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At 1031 Nationwide, we are dedicated to helping real estate investors grow their portfolios and achieve their financial goals through 1031 exchanges. We understand that navigating the complexities…
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At 1031 Nationwide, our mission is to help you achieve your investment goals, while minimizing your tax liabilities and simplifying the 1031 exchange process in Calumet City, IL. We understand that navigating a 1031 exchange…
Learn More
Calumet City, Illinois, officially became a city in 1924. Formerly known as West Hammond, it was incorporated as Calumet City to distinguish itself from Hammond, Indiana. It has a rich history shaped by its proximity to Lake Michigan and its industrial roots. Over the years, it has grown into a diverse community with a mix of residential areas, commercial centers, and recreational facilities.
With a population of approximately 37,000 residents, Calumet City offers a suburban lifestyle while being conveniently located near Chicago. The community is known for its friendly atmosphere and strong sense of community, making it an attractive place to live for families and individuals alike. The city's population is diverse, reflecting a blend of cultures and backgrounds that contribute to its vibrant character.
Calumet City's real estate market offers a range of housing options, from historic homes to modern developments. The city's real estate scene is vibrant, with a mix of single-family homes, townhouses, and apartments to cater to different preferences and budgets. The housing market in Calumet City is competitive, with a variety of amenities and convenient access to schools, parks, and shopping centers contributing to its appeal among homebuyers.
We have worked with various companies, just a few we have partnered with. You can be assured that your 1031 Exchange will be handled appropriately.
