Donating commercial real estate to charity in Chicago.
Donating real estate to a charity in Chicago comes with valuable benefits such as earning maximum full market value savings today and more as your read on. But first, we feel it’s important for you to know if you don’t already:
- We understand and respect the concerns of individuals donating commercial real estate to charity in Chicago which is why we can put you at ease on our first phone call.
- When it comes to donating commercial real estate to charity in Chicago, we provide what most charities can’t, which are highly qualified, experienced professionals to manage the donation process from start to finish, at no cost to the donor, or charitable organization.
- You can trust that we have made sure your commercial real estate donation will go to a qualified 501(c)(3) charity.
Benefits of donating commercial real estate to charity.
Donating commercial real estate to charity is a great way for you to take advantage of tax break options¹.
- Reduction of real estate taxes
- Avoid capital gains taxes
- Capitalize on large tax deductions
Other non-tax benefits of donating commercial rental property to a charity are reducing the challenges you may experience renting Chicago real estate and reducing your overall real estate and landscape maintenance costs.
How to donate commercial real estate to a charity?
Donating commercial real estate to a charity can help a charity improve its office location, increase storage and fulfillment services, provide rental real estate to maintain the non-profit, and even sell Chicago commercial property recouping a profitable donation. But, donating commercial property to a charity isn’t as simple as just handing over a sales agreement.
When donating commercial property to a charity in Chicago the first thing you need to do is contact the charity to ensure they will accept your commercial property donation, or that they can afford to maintain and manage your donated Chicago property.
Second, it is always important to include a financial advisor so that you can properly document the donation, and understand the best tax incentives that justify your commercial property nonprofit donation.
Third, while some charities will accept property with additional costs, it is always best to pay back taxes, unpaid utilities, and an unpaid mortgage is possible. By taking care of these expenses 501c3 non-profits will be more willing to accept your commercial property donation.
We would be pleased to answer any questions.
(312) 957-4951