Free Lake Forest, Illinois seller net sheet calculator
Closing costs, transfer taxes and who pays what when selling a home in Lake Forest, Illinois (Lake County). The calculator applies the local rates for you.
- Median home value
- $909,800
- Transfer tax on $910,000
- $5,005
- Seller costs on $910,000
- About $52,100
- Median property tax bill
- more than $10,000 a year
- County
- Lake County
- Population
- 19,642
Lake Forest transfer tax
On a $910,000 sale in Lake Forest, transfer taxes come to $5,005: State real estate transfer tax, County real estate transfer tax and Lake Forest transfer tax. By custom the seller pays $1,365 of that and the buyer $3,640. Lake Forest has its own local transfer tax, so the total differs from the rest of Lake County, where the same sale would owe $1,365.
| Tax | Rate | Paid by | On $910,000 |
|---|---|---|---|
| State real estate transfer tax | $0.50 per $500 | Seller | $910 |
| County real estate transfer tax | $0.25 per $500 | Seller | $455 |
| Lake Forest transfer tax | $4 per $1,000 | Buyer | $3,640 |
| Sale price | Seller pays | Buyer pays | Total |
|---|---|---|---|
| $250,000 | $375 | $1,000 | $1,375 |
| $500,000 | $750 | $2,000 | $2,750 |
| $910,000 local median value | $1,365 | $3,640 | $5,005 |
| $1,000,000 | $1,500 | $4,000 | $5,500 |
Example Lake Forest seller net sheet
A $910,000 sale, close to Lake Forest's median home value of $909,800, with a 5% commission and a $545,000 mortgage payoff. Seller costs come to about $52,100, or 5.7% of the price.
| Line | Seller |
|---|---|
| Sale price | $910,000 |
| First mortgage payoff | −$545,000 |
| Real estate commission (5%) | −$45,500 |
| State real estate transfer tax | −$910 |
| County real estate transfer tax | −$455 |
| Owner's title insurance policy | −$3,227.50 |
| 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 | $312,900.50 |
Who pays what in Lake Forest
Lake Forest closings follow Lake County customs. In Lake 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 Lake Forest
The median property tax bill for homeowners in Lake Forest is more than $10,000 a year (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. 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.
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.
Lake Forest seller questions
How much is the transfer tax in Lake Forest, Illinois?
On a $910,000 sale in Lake Forest, transfer taxes come to $5,005: State real estate transfer tax, County real estate transfer tax and Lake Forest transfer tax. By custom the seller pays $1,365 of that and the buyer $3,640. Lake Forest has its own local transfer tax, so the total differs from the rest of Lake County, where the same sale would owe $1,365.
How much are seller closing costs in Lake Forest?
On a $910,000 sale, close to the median home value in Lake Forest, with a 5% commission, estimated seller costs are about $52,100 (5.7% of the price). Without commission they are about $6,600. The loan payoff and property tax proration change the final number.
What county is Lake Forest in, and does it matter at closing?
Lake Forest is in Lake County, Illinois. County and state rules set the transfer taxes and recording fees, and local custom decides who pays for title and closing. In Lake 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 Lake Forest?
The median property tax bill for homeowners in Lake Forest is more than $10,000 a year (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. 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.
Other cities in Lake County
- Waukegan
- Buffalo Grove
- Mundelein
- Highland Park
- North Chicago
- Gurnee
- Round Lake Beach
- Vernon Hills
- Zion
- Grayslake
- Libertyville
- Lake Zurich
Cities near Lake Forest
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