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To complete a 1031 exchange in Lake Forest, 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 Lake Forest, 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 Lake Forest, IL. We understand that navigating a 1031 exchange…
Learn More
Lake Forest, IL, founded in 1861, is a charming city situated in Lake County, Illinois. With a rich history and beautiful landscapes, Lake Forest attracts residents and visitors alike. The city’s early development was inspired by the vision of John Griffith, whose planning and design created a well-organized community that continues to thrive today.
As of the latest census data, Lake Forest has a population of approximately 19,375 residents. Known for its upscale neighborhoods, excellent schools, and access to Lake Michigan, the city offers a high quality of life for its inhabitants. The community values preservation and conservation, evident in its many parks, historic buildings, and tree-lined streets.
The real estate market in Lake Forest is characterized by luxury homes, historic estates, and waterfront properties. The city’s housing market is competitive, with a median home value of around $1 million. Residents enjoy the stunning architecture, manicured gardens, and proximity to nature, making Lake Forest a sought-after location for those seeking an elegant and tranquil lifestyle.
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.
