Retirement - Avoiding Capital Gains Tax

[Luke Babich]

Hi all BP members, 

My parents currently own an investment property that is fully paid off. They are currently planning for retirement and they would like to sell this property in the coming years. It is not their not primary residence. Since I plan to purchase the property from them and am a licensed realtor, What ways/ strategies are there to avoid the capital gains tax since I would be purchasing as my primary residence?  The property is located in Chicago, IL . 

Thank you all for you advice/input!

Luke