Exchange Guide
1031 exchange rules and deadlines explained
The identification and closing rules that govern an Illinois 1031 exchange, from the 45-day clock to boot, related-party sales, and reverse and improvement structures.
The 45-Day Identification Period
How the federal 45-day identification window works in an Illinois 1031 exchange, including the three-property, 200-percent, and 95-percent rules.
Exchange GuideThe 180-Day Exchange Deadline
How the 180-day closing deadline works in an Illinois 1031 exchange and how it interacts with the tax return filing due date.
Exchange GuideThe Qualified Intermediary Role
Why a qualified intermediary is required for an Illinois 1031 exchange, what constructive receipt means, and how the safe harbor rules protect the exchange.
Exchange GuideLike-Kind Property Explained
What qualifies as like-kind real property in an Illinois 1031 exchange, what does not qualify, and how broad the federal like-kind standard actually is.
Exchange GuideWhat Is Boot in a 1031 Exchange
Cash boot and mortgage boot explained for Illinois 1031 exchange investors, including how partial taxability works and how the flat state income tax applies.
Exchange GuideReverse 1031 Exchange Explained
How a reverse 1031 exchange works for Illinois investors, including the exchange accommodation titleholder structure and the 180-day parking limit.
Exchange GuideImprovement and Build-to-Suit Exchange
How an improvement or build-to-suit 1031 exchange lets Illinois investors use exchange funds to build value into replacement property within 180 days.
Exchange GuideRelated-Party 1031 Exchange Rules
How Section 1031(f) restricts exchanges between related parties, the two-year holding requirement, and common traps for Illinois investors.