When news broke about an expanded Illinois statewide historic preservation tax credit, we immediately reached out to reporters to offer Taylor Johnson clients Evergreen Real Estate Group and Ginsberg Jacobs

as expert sources to comment on its impact. The Real Deal Chicago appreciated the tip and interviewed executives to include in its story, which outlined how the tax credit would help developers finance projects they might otherwise pass up and, in the end, save historic buildings. The new legislation, which has passed the state Legislature and is now awaiting Gov. Bruce Rauner’s signature, comes after Congress weakened the federal historic preservation tax credit last year. The Illinois bill expands an existing credit broadly across the state, offering a 25 percent tax credit, up to $3 million, for eligible expenses on projects involving historic buildings. Read more here.

Aurora St. Charles Senior Living is a $24 million redevelopment project that used historic preservation tax credits to transform the former Art Deco-style St. Charles Hospital into a 60-unit affordable senior housing complex.