Do you have a property you would like to Donate to Charity in Chicago?
According to the Internal Revenue Service, the federal tax code allows individuals and businesses to make noncash contributions to qualifying charities and to claim deductions for these contributions on their tax returns. Gifts of donated property, clothing, and other noncash items have long been an important source of revenue for many charitable organizations and a popular deduction for taxpayers.
Types of Real Estate Charities accept for donation
- Brick or Frame Homes
- Single Family Homes
- Town homes & Condominiums
- 2 Flats, 3 Flats & 4 Flats
- Residential Apartment Buildings
- Foreclosures for Sale
- Bank Foreclosed Homes
- Commercial Buildings
- Apartment Buildings
- Hotels and Motels
- Rooming Houses
- Mixed Use Properties
- Strip Malls / Churches
- Vacant land / Empty lots
- Shopping Centers / Church properties
- Duplexes / Duplex dwellings
3 Steps to Follow
Step 1 – Educate Yourself
A real estate donation is not like a car donation or boat donation which most of our donors are familiar with. When you donate real estate, a 5 year current market value tax deduction or the ability to receive income for life puts real estate donations in a league of their own. We have taken quite a bit of time putting together as much information as possible to answer any questions you might have. We suggest you set aside some time and learn about who we are and how we make sure a real estate donation benefits everyone involved. Please also consult with your accountant or lawyer!
Step 2 – Complete a Simple Online Real Estate Donation Form
After you have become familiar with the amazing things we do and the financial benefits you will receive, we invite you to complete our donation form. This is a very simple process and takes less than 3 minutes on average. Just choose the category your real estate donation falls into and submit your information. This gives us a chance to familiarize ourselves with your property and we will reply within 48 hours.
Step 3 – Complete the Deeds, Record, Process & Transfer Ownership
Now that you have chosen to move ahead with your generous donation, Urb, Inc. will send you a donation package, which consists of but is not limited to the following documents needed to transfer ownership.
- Quit claim deed
- Warranty claim deed
- Donation agreement
- Deed and gift Declaration
Upon completion of the full inspection, Urb, Inc. will then proceed with the steps necessary to take legal and proper deed to the charitable donation of real property offered. At this juncture, all properties are immediately insured for fire and liability to protect the interests of Urb, Inc. and their agents/affiliates.
From there, we can assist you in finalizing the transaction in a timely and efficient manner. We and Urb, Inc. work hard to make the charitable donation process simple, trouble free and as simple as possible for both our generous corporate and individual donors alike.