Illinois Closing Costs for Buyers: How Much You'll Pay

Transfer tax in Illinois

None separate from the transfer tax stamps; Illinois has no additional mortgage recordation tax beyond flat per-document recorder fees (see recording_fees).

Who pays: State and county: no statute assigns liability, but because the seller/grantor must deliver a recordable deed and the recorder will not record without stamps affixed, the seller customarily purchases the state and county stamps (a federal court applying Illinois law reasoned the 'privilege of transferring title' belongs to the grantor/seller: Fannie Mae v. Hamer, No. 12 C 50230, 2013 WL 591979 (N.D. Ill. 2013)). City of Chicago: split by ordinance, buyer pays the $3.75/$500 City portion, seller pays the $1.50/$500 CTA portion. Source

Worked example: On a $314,200 home outside Chicago, the value rounds up to the next $500 increment ($314,500 / 629 units of $500). State tax is 629 x $0.50 = $314.50 and Cook County tax (if in Cook County) is 629 x $0.25 = $157.25, for a combined $471.75 that the seller customarily pays. If the same home is in the City of Chicago, add $5.25 x 629 = $3,302.25 in city tax, of which the buyer owes $3.75 x 629 = $2,358.75 and the seller owes $1.50 x 629 = $943.50.

How much is title insurance in Illinois?

On a $314,200 home in Illinois, an owner's title policy costs about $2,235 and the lender's policy about $575 when both are issued together (the simultaneous-issue discount). The seller customarily pays for the owner's policy; the buyer pays the lender's policy. Illinois is a filed-competitive state: each title insurer files its own rates, so premiums differ by company and it pays to get two quotes. Premiums computed from Old Republic Title Schedule of Rates for Cook, DuPage, Kane, Kendall, Lake, McHenry and Will Counties, Illinois (effective 9/1/2024).

Illinois title insurers file their own rates with the Illinois Department of Insurance (filed-competitive, not promulgated); the Chicago-area rate cards from Old Republic Title and Chicago Title (CTIC) both post schedules by dollar bracket rather than a flat percentage.

Illinois-specific buyer costs on a $314,200 home

These are the line items set by Illinois law or filed rates. Lender fees, appraisal, escrow and prepaid taxes and insurance come on top and depend on your loan.

Do you need a closing attorney in Illinois?

Not required. No Illinois statute requires an attorney to conduct or supervise a residential closing, but attorney involvement is deeply customary: Illinois residential contracts (including the Chicago-area Multi-Board Residential Real Estate Contract) routinely include an 'attorney review' period (commonly 5 business days) during which each side's attorney can modify, approve, or terminate the contract, and attorneys (rather than title company escrow officers) typically conduct or attend the closing itself in the Chicago metro area. This is contractual/customary practice, not a licensing or statutory closing requirement. Source

Recording fees

Recording the deed costs $98 and the mortgage $98 at the Cook County Clerk's Office (Recorder of Deeds), effective post-April 2024 unified fee structure. Fee schedule

Other Illinois specifics

• City of Chicago water/sewer certification and zoning compliance. Chicago will not issue transfer tax stamps for a deed until the Department of Finance certifies all water/sewer charges on the property are paid and, for certain 1-4 unit residential property, a zoning compliance certificate is presented (or the waiting period for one to be denied has lapsed). This is a process/timing item rather than a large direct fee, but title companies typically charge processing fees (e.g., ~$100-$125) to obtain these certifications. Source

How much are closing costs in Illinois?

For a buyer, closing costs usually run 2% to 5% of the purchase price. On Illinois's median-priced home (about $314,200), that is roughly $6,284 to $15,710, and it is separate from your down payment. The exact figure depends on your lender, your loan, and local taxes.

What closing costs include

Closing costs are a bundle of one-time fees due at settlement: lender or origination fees, an appraisal, title insurance, escrow and settlement fees, recording fees and any Illinois transfer tax, plus prepaid property taxes and homeowners insurance.

Why Illinois closing costs vary

The single biggest reason closing costs differ from state to state is transfer taxes, which states and sometimes counties and cities charge on the sale. Title insurance customs and whether an attorney is required at settlement also matter.

How a rebate offsets Illinois closing costs

Buyer commission rebates are legal in Illinois. Because a rebate can be paid as a credit at closing, it can erase a meaningful share of these costs. On a $314,200 home, a 2% rebate is about $6,284, often enough to cover much of the closing bill.

See Illinois buyer rebates and how to get one →

Sources

• Illinois transfer tax statute
• Who pays the transfer tax
• City of Chicago transfer tax
• Old Republic Title Schedule of Rates for Cook, DuPage, Kane, Kendall, Lake, McHenry and Will Counties, Illinois (effective 9/1/2024)
• Illinois closing attorney rule
• Cook County Clerk's Office (Recorder of Deeds), effective post-April 2024 unified fee structure recording fees
• Illinois Department of Revenue, Real Estate Transfer Tax (MyDec)
• Chicago Title (CTIC), Chicago Metropolitan Area Schedule of Rates for Residential Title Insurance, effective 1/1/2025
• Consumer Financial Protection Bureau: buyer closing costs are typically 2% to 5% of the purchase price

Illinois figures last verified against official sources on September 11, 2026.