Why Illinois Landowners Sell to Us
Illinois land sits in two very different markets. Productive farmland in the central corn belt commands strong prices and has active buyers. Transitional land, wooded lots, rural recreational parcels, and undeveloped ground outside the Chicagoland metro is a different story — and that's where most people who call us fall.
Illinois has one of the higher real estate transfer tax burdens in the Midwest. The state imposes a transfer tax of $0.50 per $500 of purchase price. That alone isn't severe, but Illinois counties and municipalities can — and many do — layer on their own transfer taxes on top. The City of Chicago charges $3.75 per $500 on the buyer and $1.50 per $500 on the seller. Cook County adds its own. When you add them up, transfer taxes in Cook County transactions can run several thousand dollars on a $200,000 sale. We factor all of this into our offer and handle it at closing — you don't write any separate checks.
Illinois is an attorney-closing state. By longstanding custom and legal convention, a licensed Illinois attorney must prepare or supervise the preparation of closing documents and handle the closing itself. This is standard practice and it protects both parties — it's not a burden we avoid. We work with established Illinois real estate attorneys who handle closings efficiently, often in two to three weeks.
Property taxes in Illinois are among the highest in the country, particularly in Cook, DuPage, and Lake Counties. Vacant land sits on your balance sheet accruing tax bills without generating income. Selling stops that bleed immediately. Illinois uses a tax-lien system for delinquent property — a lien certificate is sold at auction, and if not redeemed, can eventually lead to a tax deed action. If you're approaching that situation, a cash sale is almost always the better path.
Not legal or tax advice — confirm specifics with your Illinois real estate attorney or title company.
