Owning an Historic Home
Owning a turn of the century vintage home is a rewarding experience. From the patina of the old wood to the high ceilings and plaster medallions, the warmth and serenity just can't be duplicated in new construction. Chicago is known throughout the world for its architecture, and Chicago's neighborhoods offer tremendous opportunities for historic home living.
One of the many benefits of owning an historic home is the tax savings derived by freezing property tax assessments once home renovations have taken place. If your home is located in one of the many Chicago Historic Districts (not all are listed at the city's website), you may qualify for a tax assessment freeze for 8 years, with an additional 4 years of "step up" -- a total of 12 years of tax savings!
Chicago Historic Bungalow Initiative
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