Chicago, IL local closing costs

Cost to sell a house in Chicago, IL.

On a typical $280,000 Chicago sale, total seller costs to list and close traditionally run about $25,340 roughly 9.0% of the sale price. Here's the line-item breakdown.

Median DOM: 24 days
Median income: $79,411
Total transfer rate: 1.30%

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List with an agent

$280,000 sale price

Agent commission (5.5%)$15,400
State + local transfer tax (1.3%)$3,640
Owner's title insurance (0.5%)$1,400
Recording / settlement / attorney$900
Pre-listing repairs (1%)$2,800
Staging + photography$1,200

Total costs$25,340

Net to seller$254,660

Time to close varies with market demand, financing, inspections, and title work.

Home Posted cash offer

$218,400 offer (~78% of retail)

Agent commission$0
Transfer tax(Buyer pays)$0
Title insurance(Buyer pays)$0
Closing / attorney fees(Buyer pays)$0
Repairs(As-is, buyer's problem)$0
Staging / photography(Not needed)$0

Total costs$0

Net to seller$218,400

Timing, contingencies, and seller costs are stated in the written offer.

Net difference

Listing nets you more: $36,260

The trade is time, certainty and effort vs the last few percent of retail. If your house needs repairs or you can't wait 90 days, the cash path usually wins on the math too.

Attorney required?

Yes, Illinois customarily requires an attorney at closing.

Transfer tax

IL state + county + city transfer taxes stack; Chicago is highest. Attorney customary.

Repair credits

On a traditional listing, post-inspection repair credits in Chicago commonly cost sellers another $2-8k beyond the budget above.

Chicago adds a local surtax

Chicago + Cook transfer tax, +0.75%

Chicago adds $3/$1,000 (seller share) plus $1.50/$1,000 county on top of the IL state RETT.

Result: on a $280,000 sale, Chicago's transfer tax line is $3,640 instead of $1,540 at the state baseline.

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