These are more complicated and more expensive, but take the risk out of the 45 day identification period.Generally, most 1031 Exchange Qualified intermediary companies charge between $700 and $1200 for a regular Forward 1031 Exchange transaction, which involves one sale and one purchase.

National Qualified Intermediaries can administer 1031 Exchange transactions in most if not all states.

The qualified intermediary for the 1031 must be in place prior to the closing.  

I know there are qualified intermediaries here on BiggerPockets in the forums that could give way better advice than I can.  

Also looking for a Qualified Intermediary that has experience in the Chicago land area to facilitate the exchange.  

You use all your same professionals and the process is identical with the exception of the addition of your qualified intermediary who coordinates the exchange with your regular professionals.  

I'm negotiating through an intermediary so I'm not even sure if the rep at the charity is correct in his assumption regarding the loss of the tax deduction.

You cannot exchange into securities or finance instruments.Echoing what @Natalie Kolodij said,  you must have already set up your 1031 using a qualified intermediary prior to the sale.  

Some of the requirements is that you never touch the Sales Proceeds by using a 1031 Intermediary and you must buy a new Investment that is similar but equal or more than the one you sold. 

Generally speaking, you may not even take possession of the proceeds if contemplating a 1031 exchange - it must be held by a Qualified Intermediary.