Illinois seller net sheet calculator
What a Illinois seller walks away with after commission, payoffs, title, and transfer taxes. Rates and closing customs below are verified for Illinois; the calculator applies them for you, down to the county.
- State transfer tax
- $0.50 per $500
- Owner's title policy
- Seller pays
- Seller costs on $400,000
- About $24,307
Illinois transfer tax
Illinois charges the state real estate transfer tax of $0.50 per $500, customarily paid by the seller. On top of that, 41 county or city transfer taxes apply in parts of the state; the calculator adds them when you choose the county.
| Tax | Level | Rate | Customarily paid by |
|---|---|---|---|
| State real estate transfer tax35 ILCS 200/31-10: $0.50 per $500 or fraction. | State | $0.50 per $500 | Seller |
| County real estate transfer tax | County | $0.25 per $500 | Seller |
| Chicago real property transfer tax (city portion) | City | $3.75 per $500 (buyer) | Buyer |
| Chicago transfer tax (CTA portion) | City | $1.50 per $500 (seller) | Seller |
| Evanston transfer tax | City | $5 / $7 / $9 per $1,000 by bracket | Seller |
| Oak Park transfer tax | City | $8 per $1,000 | Seller |
| Naperville transfer tax | City | $3 per $1,000 | Buyer |
| Aurora transfer tax | City | $3 per $1,000 | Seller |
| Skokie transfer tax | City | $3 per $1,000 | Seller |
| Highland Park transfer tax | City | $5 per $1,000 | Seller |
| Joliet transfer tax | City | $3 per $1,000 | Seller |
| Bolingbrook transfer tax | City | $7.50 per $1,000 | Split 50/50 |
| Berwyn transfer tax | City | $10 per $1,000 | Seller |
| Sale price | Seller pays | Buyer pays | Total |
|---|---|---|---|
| $250,000 | $375 | $0 | $375 |
| $500,000 | $750 | $0 | $750 |
| $1,000,000 | $1,500 | $0 | $1,500 |
Example Illinois seller net sheet
A $400,000 sale with a 5% commission and a $250,000 mortgage payoff. Seller closing costs come to about $24,307, or 6.1% of the price.
| Line | Seller |
|---|---|
| Sale price | $400,000 |
| First mortgage payoff | −$250,000 |
| Real estate commission (5%) | −$20,000 |
| State real estate transfer tax | −$400 |
| County real estate transfer tax | −$200 |
| Owner's title insurance policy | −$1,700 |
| Settlement / closing fee | −$600 |
| Seller's attorney fee | −$700 |
| Survey | −$550 |
| Release / satisfaction recording | −$107 |
| Wire / courier / payoff processing | −$50 |
| Estimated net before property tax prorations | $125,693 |
Run it with your own numbers. Choose the county to add local taxes, and enter the closing date to prorate property taxes.
Who pays what in Illinois
Seller pays the owner's policy in Illinois. Closings are usually handled by an attorney, and an attorney is customarily required at closing. The settlement or escrow fee is paid by each side for its own closing.
Attorney closings; seller pays owner's title, survey (single-family), state/county stamps and the CTA portion of the Chicago tax; buyer pays the city portion of the Chicago tax and lender's policy.
Property tax prorations
Property taxes are paid in arrears. The typical effective rate is about 2.1% of value per year. Taxes are paid a year in arrears (Cook County installments Mar 1 and Aug 1 for the prior year); the seller credits the buyer for the prior year if unpaid plus Jan 1 through closing, customarily at 105%-110% of the last bill.
Sources
Verified 2026-09-29. A net sheet is an estimate, not a closing statement or tax advice. Final figures come from the title or escrow company. See a rate that looks wrong? Email [email protected].
Illinois net sheet questions
Does Illinois have a real estate transfer tax?
Illinois charges the state real estate transfer tax of $0.50 per $500, customarily paid by the seller. On top of that, 41 county or city transfer taxes apply in parts of the state; the calculator adds them when you choose the county.
How much is the transfer tax on a $500,000 home in Illinois?
With no county or city chosen, the transfer tax on a $500,000 sale is about $750, customarily paid by the seller. Some counties and cities charge a different or additional rate.
How much are seller closing costs in Illinois?
On a $400,000 sale with a 5% commission, estimated seller costs in Illinois come to about $24,307 (6.1% of the price), including $20,000 of commission. Without commission, closing costs are about $4,307. Local taxes, the payoff, and property tax prorations change the final number.
Who pays for title insurance in Illinois?
Seller pays the owner's policy in Illinois.
Who handles the closing in Illinois?
Closings are usually handled by an attorney, and an attorney is customarily required at closing.
How are property taxes prorated when selling a home in Illinois?
Property taxes are paid in arrears. The typical effective rate is about 2.1% of value per year. Taxes are paid a year in arrears (Cook County installments Mar 1 and Aug 1 for the prior year); the seller credits the buyer for the prior year if unpaid plus Jan 1 through closing, customarily at 105%-110% of the last bill.
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