Based on a gut check (checking the town population + location on google maps), this may be the case. 

Either way, i always decide to buy additional properties as opposed to developing what i have, because I’ll continue having that and can do what i please in the future. 

What is the experience of the group at performing this sort of development?  

The surrounding lots are developed and have houses, It is not a closed community but it looks like one.

To help our case, I am thinking about putting together a report of some type that would help for why this development should be accepted. 

Areas with infrastructure growth and new development are excellent targets for long-term value.Key Tip: Adaptability is essential in 2025.

There are definitely some municipalities that are easier to get along with than others, but all are open to development.

If you had not team in those areas and could not have reasonably developed one, then you missed thing.You say you’ve done well in Chicago.

Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

These kinds of developments can be huge draws for both residents and investors.