Landmark Facade Tax Credit?? (purchase, price, donation)

[chicagoRE]

Can someone explain this to me please??:-)

How I understand it is this: You are basically placing an easement on your home's facade which is held by a preservaition company of sorts and you make a charitable donation in the equivalent to 10% of the purchase price of the property....is this correct?? Say the property is $3 million, you make a contribution of $300k and you get the write-off?

[chicagoRE]

I meant preservation council, not company:-)

[Mr Downtown]

Unlikely to apply to an ordinary house, but you can get details from Landmarks Illinois.