How Can Historic Preservation Laws Affect Real Estate Projects?

For developers and property owners in DuPage County, understanding the impact of historic preservation laws on real estate projects is crucial. These regulations can influence everything from the planning stages to the execution of a project, and failing to comply can lead to significant delays, increased costs, or even legal action. Working with an attorney who has experience in local real estate transactions and historic preservation laws can ensure that a developer can navigate these challenges effectively.

Understanding Historic Preservation Laws

Historic preservation laws are designed to protect buildings, landscapes, and other artifacts of historical significance from being altered or demolished without oversight. In DuPage County, these laws ensure that the architectural integrity and heritage of historically significant areas are preserved for future generations. When sites are designated as landmarks, alterations to these properties may require review by local historic preservation commissions.

How Historic Preservation Laws Impact Real Estate Projects

Real estate developers will need to understand the issues that could impact projects involving historic sites, including when a developer plans to make improvements to a historic property or when their projects may affect nearby landmarks. Some concerns that may arise include:

• Permitting and approvals: Projects involving historic properties or located within historic districts typically require additional levels of scrutiny and approval. This can include reviews by historical preservation boards, which may impose restrictions on what can be altered.
• Design and construction constraints: Preservation laws may dictate specific materials and methods to be used in renovations or constructions to maintain the historical accuracy and integrity of a property.
• Increased costs and timeline delays: Complying with historic preservation standards can increase both the cost and the time needed to complete real estate development projects. Specialized materials and craftsmanship may be required, and obtaining the necessary approvals can be time-consuming.
• Tax incentives and grants: On the positive side, there may be state and federal tax incentives available for the preservation of historic properties. These can help offset some of the additional costs associated with compliance.
• Enhanced property value: Properly restored historic properties can see an increase in value due to their desirable characteristics and limited supply.

Navigating Challenges With Professional Help

A skilled attorney can help ensure that issues related to historic properties will be addressed correctly. At the Gierach Law Firm, we can assist with these projects in the following ways:

• Experienced guidance: With our understanding of local historic preservation laws, we can provide invaluable assistance from the planning phase through to the completion of a development project.
• Strategic planning: We can help develop strategies that comply with all relevant laws while still meeting the goals of a project.
• Legal representation: If disputes arise, whether with preservation boards, local governments, or other parties, we can advocate for the interests of real estate developers and help ensure that a project can move forward successfully.

Contact Our DuPage County, IL Real Estate Development Attorney

Developers who embark on real estate projects in historic areas of DuPage County may face unique challenges. If you are planning a project and need guidance on how to proceed within the framework of these laws, contact the Naperville commercial real estate lawyer at the Gierach law firm. With our understanding of the legal issues related to historic preservation that may affect real estate properties, we can help ensure that your project moves forward smoothly while complying with all applicable regulations. To discuss your project, please contact us at 630-228-9413.