| Transfer tax | State $1.00 per $1,000 plus county $0.50 per $1,000. Chicago adds a $10.50 per $1,000 city transfer tax: the buyer pays $7.50 and the seller pays $3.00 of the city portion. |
|---|---|
| Usually paid by | Seller (customary; Chicago buyers pay the city portion) |
| Attorney at closing | Not required |
| Recording | Recording fees are set by the county recorder, typically a flat fee per document plus per-page charges. |
What drives your total
Lender fees, title insurance, prepaid taxes and insurance, and any points you buy move the number most. On a $400,000 purchase, 2–5% means roughly $8,000–$20,000 at the table, your Loan Estimate itemizes every dollar three business days before closing.
Ways to reduce cash to close
- Seller credits (negotiated in the contract, program limits apply)
- Lender credits in exchange for a slightly higher rate
- Down payment assistance programs where available
- Closing on time, per-diem interest accrues daily
Sources: Tax Foundation 2026 (2024 ACS); IL Dept. of Revenue; Chicago RPTT. Figures are typical ranges, not quotes.
FAQ
How much are closing costs in Illinois?
Buyer closing costs in Illinois typically run 2–5% of the purchase price. State-specific items include: State $1.00 per $1,000 plus county $0.50 per $1,000. Chicago adds a $10.50 per $1,000 city transfer tax: the buyer pays $7.50 and the seller pays $3.00 of the city portion.
Who pays transfer tax in Illinois?
Customarily the seller (customary; chicago buyers pay the city portion) pays the transfer tax in Illinois, though it is negotiable in the contract.
Does Illinois require an attorney at closing?
No, Illinois does not require an attorney at closing, though title insurance is still standard.