- The state’s rules, as above
Illinois seller net sheet calculator
Illinois sellers pay the state transfer tax of 0.1% plus a 0.05% county tax, and the seller customarily pays for the owner’s title policy. In Chicago the seller adds a 0.3% city tax and the
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Same costs, different prices. Useful for weighing offers or picking
A Illinois sale, worked out
The calculator opens on $280,000, about the median value of an owner-occupied home in Illinois ($280,700, 2024 Census estimate), with a $140,000 mortgage payoff as an example. Commissions are whatever the seller agrees, so they’re
Before commissions and the payoff, the seller’s costs come to about $5,593, or 2% of the price, for a closing on December 5, 2026. Illinois’s transfer tax on a $400,000 sale is the 27th highest of the 35 states and DC
| Owner’s title insuranceest. | −$980 |
|---|---|
| Settlement or escrow feeest. | −$600 |
| Closing attorneyest. | −$900 |
| Recording and release feesest. | −$100 |
| Real estate transfer tax | −$420 |
| Property taxes (prorated)est. | −$2,593 |
| Total | −$5,593 |
Estimates are tagged “est.”; the rest follow
The real estate transfer tax and title at other prices
Real estate transfer tax is 0.1% of the price, plus the typical 0.05% county tax, usually paid by the seller. The owner’s policy below is an estimate; your title company’s quote will differ. The seller usually
| Sale price | Whole real estate transfer tax | Seller usually pays | Owner’s title policy |
|---|---|---|---|
| $250,000 | $375 | $375 | $875est. |
| $500,000 | $750 | $750 | $1,750est. |
| $750,000 | $1,125 | $1,125 | $2,625est. |
| $1,000,000 | $1,500 | $1,500 | $3,500est. |
| $2,000,000 | $3,000 | $3,000 | $7,000est. |
Counties or cities in Illinois can add a tax of their own. Add it under Other costs
Selling in Illinois: what to know
Real estate transfer tax
Illinois charges a state transfer tax of $0.50 per $500 (0.1%) and a county tax of $0.25 per $500 (0.05%), both customarily paid by the seller, for $0.75 per $500 together. Home-rule cities can add their own. An existing mortgage the buyer assumes is excluded
Title insurance
Illinois is a seller-pay state for the owner’s policy: under Chicago-area contracts the seller furnishes the title commitment
Who runs the closing
Illinois doesn’t require an attorney by law, but in the Chicago area and much of the state each side customarily hires a real estate attorney, and standard contracts include an attorney review period. Budget a
Property taxes
Illinois property taxes are paid a year in arrears: 2025 taxes are billed and paid in 2026. In Cook County the first installment is an estimated 55% of the prior year’s bill. At closing the seller credits the buyer for any unpaid prior-year tax plus the current year to date, usually estimated from the
Local differences
Chicago: the buyer pays $3.75 per $500 (0.75%) and the seller pays the $1.50 per $500 (0.3%) CTA tax, on top of the seller’s state and county stamps. Chicago’s 2024 proposal to raise rates on high-end sales failed, and rates are unchanged as of September 2026. Evanston and other suburbs have their own taxes, often with water or
Illinois by city
Most of Illinois follows the rules above. These cities add a tax of their own, set a different rate or change who pays, and the calculator applies them when you pick one. Amounts are what the seller usually pays in transfer and deed taxes on $280,000, plus the owner’s title policy where the seller
- Chicago’s 0.3% seller tax
- Chicago’s real property transfer tax 0.75%
Selling in Illinois: questions
Who pays transfer tax in Illinois?
The seller customarily pays the Illinois state transfer tax (0.1%) and the county tax (0.05%). In Chicago the seller also pays the 0.3% CTA tax, and the buyer pays
Who pays for title insurance in Illinois?
The seller. Illinois is a seller-pay state, and Chicago-area contracts have the seller furnish
Why do Illinois sellers pay so much in property tax at closing?
Illinois taxes are paid a year behind, so a seller often owes the buyer for last year’s unpaid second installment plus the current
How much are seller closing costs in Illinois?
Leaving out commissions, which are whatever the seller agrees, and the loan payoff, a Illinois seller’s costs on a $280,000 sale come to about $5,593 with the calculator’s estimates and a December 5, 2026 closing: owner’s title insurance $980, settlement or escrow fee $600, closing attorney $900, recording and release fees $100, real estate transfer tax $420, property taxes (prorated) $2,593. Put in your own numbers above for
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Sources
Illinois’s rules were checked against these on
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Further reading
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