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To complete a 1031 exchange in New Lenox, 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 New Lenox, 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 New Lenox, IL. We understand that navigating a 1031 exchange…
Learn More
New Lenox, Illinois, officially became a village in 1946 and was later incorporated as a city in 1948. This delightful city, situated in Will County, has prospered from a small village to a bustling city, attracting many residents over the years.
As of the latest census, New Lenox has a population of approximately 27,000 residents. The city has experienced steady growth in recent years, with a mix of young families and retirees choosing to settle in this vibrant community. With its excellent schools, parks, and recreational facilities, New Lenox continues to be a popular choice for many individuals and families.
The real estate market in New Lenox remains competitive, with a diverse range of housing options available to suit various preferences and budgets. From cozy starter homes to luxurious estates, the city offers a mix of traditional and modern architectural styles. The demand for housing in New Lenox is indicative of its desirability as a place to live, work, and raise a family.
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.
