Closing Costs for Illinois (2026)
Illinois (IL) Key Facts
Average Closing Cost Rate
3.5%
Estimated Closing Costs ( Median Home)
$9,450
Attorney Required at Closing
No
Median Home Price
$270,000
Transfer Tax
Varies by locality
How This Calculator Works in Illinois
This closing costs calculator estimates the total amount you will need at closing when buying a home in Illinois. It uses the state's average closing cost rate of 3.5% as a baseline and lets you adjust for your specific purchase price and situation. Understanding these costs in advance helps you budget effectively and avoid surprises at the closing table.
Illinois Overview
Closing costs in Illinois average about 3.5% of the home's purchase price—roughly $9,450 on the median home of $270,000. Illinois does not require an attorney at closing, though hiring one may still be wise for complex deals. Transfer taxes in Illinois are: $0.50 per $500 statewide; Chicago adds $7.50 per $500 plus additional taxes for high-value properties.
How Illinois Compares
Illinois's average closing cost rate of 3.5% is in the middle range nationally. Neighboring Indiana averages 1.8%, while Wisconsin averages 3%. States with attorney requirements and higher transfer taxes tend to have elevated closing costs overall.
| State | Top Rate | Notes |
|---|---|---|
| Indiana | 1.8% | Average closing costs are 1.8% of the home price, approximately $4,320 on the median home. Attorney not required at closing. |
| Wisconsin | 3% | Average closing costs are 3% of the home price, approximately $8,100 on the median home. Attorney not required at closing. |
| Iowa | 2% | Average closing costs are 2% of the home price, approximately $4,200 on the median home. Attorney not required at closing. |
Closing costs in Illinois average 3.5% of the home price, or about $9,450 on the median-priced home of $270,000. The national average for closing costs is typically 2-5% of the purchase price. Illinois falls in the mid-range nationally.
Tips for Illinois Residents
- 1Budget approximately 3.5% of the purchase price for closing costs in Illinois, which comes to about $9,450 on the median home of $270,000. This is in addition to your down payment and moving expenses.
- 2Illinois does not require an attorney at closing, though hiring one may still be wise for complex deals. Consider retaining an attorney for transactions involving liens, estate sales, or unusual contract terms in Illinois.
- 3Transfer taxes in Illinois: $0.50 per $500 statewide; Chicago adds $7.50 per $500 plus additional taxes for high-value properties. Make sure you know who is customarily responsible (buyer or seller) in your county, as local practice varies.
- 4Shop at least three lenders for your Loan Estimate in Illinois. Origination fees, discount points, and third-party charges can differ by $1,000 or more between lenders on the same loan amount.
- 5Ask about first-time homebuyer programs in Illinois that may offer closing cost assistance, grants, or below-market interest rates. Many state and county housing finance agencies provide such programs.
Frequently Asked Questions
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