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Illinois Opportunity Zones


Created as part of the Tax Cuts and Jobs Acts of 2017, Opportunity Zones provide an incentive for investors to invest in Opportunity Zones for a temporary tax deferral. Opportunity Zones are areas in Illinois that need investment to help create jobs and investment in areas that need it most. Opportunity Zones were created in 2018 through an analysis that included poverty rates, unemployment rates, total number of children in poverty, violent crime rate and population.

More detailed information on Opportunity Zones can be found through theUS Department of Treasury’s Community Development Financial Institutions Fund.

How to Benefit by Investing in an Opportunity Zone

  1. Identify whether the area is in an Opportunity Zone

    Visit the US Census Bureau's Geocoder, which will identify census tracts and cross reference the Opportunity Zone census tracts in Illinois (outside of Chicago) and Chicago.

  2. Invest in a Qualified Opportunity Fund

    To take advantage of the tax benefits of investing in an Opportunity Zone, you must invest in a Qualified Opportunity Fund that holds at least 90% of its investment in Opportunity Zones. More information on Qualified Opportunity Funds and benefits can be found on the IRS website.

  3. Take Advantage of Tax Benefits

    Typically, the investment must remain in the Qualified Opportunity Fund for at least 180 days. Detailed information on how to obtain these benefits can be found on the IRS website.

Assistance from DCEO for Opportunity Zones

The Department has awarded $14.7M in grants to 10 communities in Illinois. Information on these projects can be found through a press release.

If you have any questions on Opportunity Zones, please email