There’s a lot of talk about Opportunity Zones in Chicago, but the first acquisition or redevelopment of a local property in an OZ by a Qualified Opportunity Fund remains to be seen. Opportunity Zones are lower-income areas in all 50 states, and all of Puerto Rico, where investors can reinvest capital gains and reduce their tax liability. The idea is to spur new investment in property development (capital gains can also be invested in businesses located in OZs).
Chicago Cityscape is at the forefront of quality data for Opportunity Zones investors and property owners interested in Cook County, and our newest map makes it even easier to find, investigate, and analyze properties in OZs.
Property Finder, which we introduced last summer, is a collection of thematic maps to help brokers and investors find value add opportunities. For example, you can use one of the Property Finder maps to locate 2-flats that are in zoning districts that allow a third apartment to be added.
The new Opportunity Zones Property Finder map shows all Cook County properties that are within a Cook County OZ. The map and data show the property classification, property tax liability, and ownership information. The data can be downloaded for use in Excel, pivot tables, and GIS. Plus, the map is filterable by property classification to find vacant land, for example.
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