Free Chicago, Illinois seller net sheet calculator
Closing costs, transfer taxes and who pays what when selling a home in Chicago, Illinois (Cook County). The calculator applies the local rates for you.
- Median home value
- $315,200
- Transfer tax on $315,000
- $3,780
- Seller costs on $315,000
- About $20,535
- Median property tax bill
- $4,814 a year
- County
- Cook County
- Population
- 2,721,308
Chicago transfer tax
On a $315,000 sale in Chicago, transfer taxes come to $3,780: State real estate transfer tax, County real estate transfer tax, Chicago real property transfer tax (city portion) and Chicago transfer tax (CTA portion). By custom the seller pays $1,418 of that and the buyer $2,363. Chicago has its own local transfer tax, so the total differs from the rest of Cook County, where the same sale would owe $473.
| Tax | Rate | Paid by | On $315,000 |
|---|---|---|---|
| State real estate transfer tax | $0.50 per $500 | Seller | $315 |
| County real estate transfer tax | $0.25 per $500 | Seller | $157.50 |
| Chicago real property transfer tax (city portion) | $3.75 per $500 (buyer) | Buyer | $2,362.50 |
| Chicago transfer tax (CTA portion) | $1.50 per $500 (seller) | Seller | $945 |
| Sale price | Seller pays | Buyer pays | Total |
|---|---|---|---|
| $250,000 | $1,125 | $1,875 | $3,000 |
| $315,000 local median value | $1,417.50 | $2,362.50 | $3,780 |
| $500,000 | $2,250 | $3,750 | $6,000 |
| $1,000,000 | $4,500 | $7,500 | $12,000 |
Example Chicago seller net sheet
A $315,000 sale, close to Chicago's median home value of $315,200, with a 5% commission and a $190,000 mortgage payoff. Seller costs come to about $20,535, or 6.5% of the price.
| Line | Seller |
|---|---|
| Sale price | $315,000 |
| First mortgage payoff | −$190,000 |
| Real estate commission (5%) | −$15,750 |
| State real estate transfer tax | −$315 |
| County real estate transfer tax | −$157.50 |
| Chicago transfer tax (CTA portion) | −$945 |
| Owner's title insurance policy | −$1,360 |
| 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 | $104,465.50 |
Who pays what in Chicago
Chicago closings follow Cook County customs. In Cook County, the seller customarily pays the owner's title policy. The settlement fee is paid by each side for its own closing. Closings are usually handled by an attorney, and each side normally has its own attorney.
Property taxes in Chicago
The median property tax bill for homeowners in Chicago is $4,814 a year, about 1.53% of the median home value of $315,200 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Cook County custom: seller credits 105% (sometimes 110%) of the most recent full-year bill, prorated through closing.
Rates verified 2026-09-30. Home value and tax bill: Census Bureau American Community Survey, 2019–2023. A net sheet is an estimate; final figures come from the title company.
Chicago seller questions
How much is the transfer tax in Chicago, Illinois?
On a $315,000 sale in Chicago, transfer taxes come to $3,780: State real estate transfer tax, County real estate transfer tax, Chicago real property transfer tax (city portion) and Chicago transfer tax (CTA portion). By custom the seller pays $1,418 of that and the buyer $2,363. Chicago has its own local transfer tax, so the total differs from the rest of Cook County, where the same sale would owe $473.
How much are seller closing costs in Chicago?
On a $315,000 sale, close to the median home value in Chicago, with a 5% commission, estimated seller costs are about $20,535 (6.5% of the price). Without commission they are about $4,785. The loan payoff and property tax proration change the final number.
What county is Chicago in, and does it matter at closing?
Chicago is in Cook County, Illinois. County and state rules set the transfer taxes and recording fees, and local custom decides who pays for title and closing. In Cook County, the seller customarily pays the owner's title policy. The settlement fee is paid by each side for its own closing.
How much are property taxes in Chicago?
The median property tax bill for homeowners in Chicago is $4,814 a year, about 1.53% of the median home value of $315,200 (Census Bureau American Community Survey, 2019-2023). Taxes here are paid in arrears, so at closing the bill is prorated between buyer and seller to the closing date. Cook County custom: seller credits 105% (sometimes 110%) of the most recent full-year bill, prorated through closing.
Other cities in Cook County
- Cicero
- Schaumburg
- Evanston
- Arlington Heights
- Palatine
- Skokie
- Des Plaines
- Orland Park
- Oak Lawn
- Mount Prospect
- Berwyn
- Tinley Park
Cities near Chicago
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