Are you thinking of selling a commercial income property? If so, it is important to calculate the correct tax basis to avoid higher capital gains tax when the property is sold. It is also necessary to determine the tax basis before you sell since the tax basis plays a role in determining depreciation.
The Midwest offers several advantages compared to other U.S. regions, including its diverse economy, growing population, and stable housing market. All of which makes the region an excellent place for investors looking to expand their portfolios.
Chicago’s multifamily sector currently enjoys strong market fundamentals highlighted by healthy occupancy rates and continued rental rate growth.
Even in a housing market that has slowed significantly due to rising mortgage rates, the supply of homes for sale is about half of what it was in 2019.
Finding an affordable place to live has been a challenge for Americans in numerous parts of the country over the last several years after the pandemic supercharged competition for properties and a longstanding supply shortage sent prices upward.
Housing is perhaps the most consequential category in the consumer price index, a key inflation barometer.