Established in 2017, opportunity zones were created to supply tax advantages for certain investments in lower income areas. To put in perspective the amount of opportunity zones in Chicago, there were roughly 500 census tracts eligible, but only 133 were approved (BisNow). In this particular article, the focus is placed on three areas in Chicago predicted to highly benefit as part of the opportunity zones, especially in the long term.
The Chicagoland industrial market finished strong in 2018, but will it live up to the same success in 2019? The market is slightly overbuilt, but that is not preventing companies from taking advantage of the Chicagoland area. As the Midwest hub, the market is expected to perform well and hopefully record another great year in the books.