The One Big Beautiful Bill changed the playbook for real estate investing by extending, expanding, and making permanent several major tax incentives tied to depreciation, energy efficiency, and opportunity zones. For Illinois real estate investors, the biggest shift is that Opportunity Zones are no longer just a short-term program with a looming sunset; the bill makes the program permanent and adds enhanced benefits for rural real estate starting in 2027, while also tightening compliance and reporting requirements for Qualified Opportunity Funds (QOFs).