GITDEC Names New Tax Deferred Exchange Advisor

Greater Illinois Title Company (GIT) and its wholly owned subsidiary Greater Illinois Tax Deferred Exchange Corporation (GITDEC) have announced the execution of an Exchange Services Agreement with NorthStar Deferred Exchange Corp., a Chicago based company. NorthStar is part of the NorthStar Financial Corporation, a financial services company serving corporations and financial institutions. The announcement was made by GIT president Gregory M. Kosin, who also serves as president of Greater Illinois Tax Deferred Exchange Corporation.

A tax deferred exchange allows for an owner of investment property to exchange that property for a different property in a 'qualified transaction' thereby deferring the income tax on the capital gain. GITDEC acts as a 'qualified escrowee and intermediary' to facilitate these transactions.

"North Star will act as GITDEC’s exchange advisor and service consultant for 1031 exchanges," stated Kosin. "New marketing efforts and educational seminars will be offered in the future to educate our customers as to the use of tax deferred exchanges as well as revenue exchanges, build-to-suit exchanges, equipment exchanges, improvement exchanges, and reverse exchanges."

Timothy J. Meyers, Vice President and Senior Title Officer, has been named Exchange Officer for GITDEC and will be the point person for customer inquiries on tax deferred exchanges. His contact information is 312.264.4766; Toll Free: 1.877.377.1031 Fax: 312.407.9241

Kosin said that GITDEC is excited at the opportunity to work with the professionals at North Star. He stated that the move, which is in line with its growth strategies, will provide new revenue opportunities for the company and allow it to expand its product and service offering to its growing customer base.

About Greater Illinois Title
Greater Illinois Title, celebrating its 25th Anniversary in 2010, is Chicago Title's largest title agent in Illinois and one of its largest title agents in the country. The company provides title insurance, construction and commercial escrow services, sale and refinance closing services, 1031 tax deferred exchanges, land surveys and real estate information in the Chicago metro region. It currently operates through a network of fourteen offices located in Arlington Heights, Crystal Lake, Downers Grove, Geneva, Homewood, Lindenhurst, Oak Lawn, Shorewood, Tinley Park, Westchester, Wheaton, Yorkville, in Chicago on North Milwaukee Avenue and in the Loop at 120 N. La Salle Street. Greater Illinois Title is authorized to write Title Insurance and issue policies in the Counties of Cook, DeKalb, Du Page, Grundy, Lake, Kane, Kankakee, Kendall, Lake, LaSalle, McHenry and Will. The company coordinates title insurance and escrows in all Illinois Counties and across the United States.