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Illinois Home Seller Net Proceeds Calculator

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Picking a city applies the correct local transfer tax automatically.

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Brokerage Commissions

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Total Commissions$0.00

Estimated Net Proceeds

-$750.00

Sale Price$0.00
Commissions- $0.00
Mortgage Payoff- $0.00
Total Transfer Tax (effective 0.00%)- $0.00
Owner's Title Insurance- $0.00
Escrow / Closing Fee- $0.00
Attorney Fee- $750.00
Recording Fee- $0.00

Illinois transfer taxes are state-, county-, and municipality-specific. Title insurance, escrow, attorney, and recording fees vary by provider. Consult your closing attorney or title company for exact figures.

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Selling a Home in Illinois

Illinois imposes a state real estate transfer tax of $0.50 per $500 of sale price (0.10%), plus a county tax of $0.25 per $500 (0.05%). Many municipalities — most notably Chicago and Evanston — add their own transfer tax on top. Sellers also pay agent commissions, owner's title insurance, attorney fees, and recording fees.

Illinois Transfer Tax & Closing Costs

Illinois closings are typically handled by a real estate attorney. The seller customarily pays the owner's title insurance policy, the state and county transfer tax stamps, and any municipal transfer tax. Cook County (Chicago) sellers should budget for the additional CTA portion of the city transfer tax.

How to Estimate Your Illinois Net Proceeds

  1. Sale Price: Start with the agreed-upon contract price.
  2. Mortgage Payoff: Subtract your remaining loan balance and accrued interest through closing.
  3. Transfer Taxes: Apply the state, county, and any municipal transfer tax owed by the seller.
  4. Closing Costs: Deduct commissions, owner's title insurance, attorney/escrow, and recording fees.

Illinois Net Proceeds = Sale Price − Mortgage Payoff − Commissions − Transfer Taxes − Closing Costs

Key Factors to Consider

  • State + County Transfer Tax: Statewide $0.50/$500 (0.10%) + county $0.25/$500 (0.05%) = 0.15% on every Illinois sale.
  • Chicago Municipal Tax: Chicago sellers pay an additional $1.50/$500 (0.30%) CTA portion of the city transfer tax. The larger $5.25/$500 city portion is buyer-paid.
  • Other Municipal Taxes: Evanston, Oak Park, and other home-rule municipalities impose their own seller transfer taxes — confirm with your closing attorney.
  • Title Insurance: Sellers customarily pay the owner's title insurance policy in Illinois.
  • Attorney Fees: Both sides typically retain a real estate attorney — usually $500–$1,200 for the seller.

Why use this tool?

Most national net-sheet calculators ignore Illinois's layered transfer tax structure — state, county, and municipal — and silently understate closing costs by thousands of dollars. This calculator applies the correct rates for the city you select so the bottom line reflects what you'll actually walk away with.

Need more accuracy?

This tool provides general estimates only. Confirm exact figures with your closing attorney or title company, and consult a qualified tax professional regarding state and federal capital gains or other obligations specific to your sale.

Illinois Seller FAQ