Closing Costs in Illinois
By Ziv Shay | Updated April 2026
Calculate exactly what buyers and sellers pay in closing costs in Illinois. Updated for 2026 with state-specific transfer taxes, fees, and requirements.
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Closing Costs in Illinois: What You Need to Know
Illinois Transfer Tax
Illinois charges a transfer tax of 0.100% on real estate transactions. On a $350,000 home, this amounts to $350, which is typically split between the buyer and seller.
Average Closing Costs in Illinois
The average buyer closing costs in Illinois are approximately 2.67% of the home purchase price. On a median-priced home of $350,000, buyers can expect to pay around $9,345 in closing costs, plus their down payment. This is above the national average, largely due to higher title and settlement fees.
Attorney Requirements
Illinois does not require an attorney at real estate closings. Transactions are typically handled by title companies or escrow agents. While not required, many buyers and sellers in Illinois still choose to hire an attorney for added legal protection, especially in complex transactions.
Tips for Reducing Closing Costs in Illinois
- Illinois's transfer tax rate is 0.100% of the sale price, typically split between buyer and seller.
- Illinois does not require an attorney at closing. You can use a title company or escrow agent, which may save on fees.
- Illinois's average closing costs of 2.67% of the home price are near the national average. Compare at least 3 lender quotes.
- Close at the end of the month to minimize prepaid interest charges. You only pay interest from closing day through month end.
Frequently Asked Questions About Illinois Closing Costs
Average closing costs for buyers in Illinois are approximately 2.67% of the home purchase price. On a $350,000 home, that's about $9,345 in buyer closing costs. Seller costs are higher, typically 6-10% of the sale price due to agent commissions.
No, Illinois does not require an attorney at closing. You can use a title company or escrow agent to handle the closing process. However, hiring an attorney is still recommended for complex transactions.
Illinois's transfer tax rate is 0.100% of the sale price. On a $350,000 home, that's $350 total, typically split between buyer and seller. Some counties may have additional local transfer taxes.
To reduce closing costs in Illinois: shop at least 3 lenders and compare Loan Estimates, negotiate seller credits (especially in a buyer's market), compare title insurance quotes from multiple providers, close at the end of the month to minimize prepaid interest, and ask about lender credits in exchange for a slightly higher interest rate.
