The math most sellers never see
How much of your home sale goes to commission?
On a $500K sale, a 2-3% listing commission may cost $10,000-$15,000. A flat fee could change that math. See how much you might keep.
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Cost to Sell a House in Chicago: What You May Keep After Commissions and Closing Costs
Most Chicago sellers start with one question: what will I walk away with? The sale price is one number. What you may actually keep is a different number, and the gap between them can be larger than expected.
Quick answer: The cost to sell a house in Chicago in 2026 is an estimated $22,000 to $40,000 on a $500,000 home, and Net Gain Realty’s flat $1,995 full-service listing fee is what puts a seller at the low end of that range. The listing fee is the biggest variable: an example 2-3% commission runs $10,000 to $15,000 at that price, while the flat $1,995 covers the full listing scope. Beyond the listing fee, a Chicago seller’s own closing costs run roughly 1-2% of the sale price, about $5,000 to $10,000, which includes the seller’s approximately 0.45% share of Chicago’s transfer taxes (about $2,250 on a $500,000 sale), title insurance, and attorney fees.
On a $500,000 Chicago home, estimated selling costs may range from approximately $22,000 to $40,000 depending on the commission structure you choose, closing costs, and transfer taxes. That range exists because sellers have more options than many realize, especially since the 2024 NAR settlement changed how commissions are structured. The single biggest swing is the listing fee: an example 2-3% listing commission is $10,000 to $15,000 at this price, while Net Gain Realty lists Chicago homes for a flat $1,995 with the full listing scope, which is where the low end of that cost range comes from. See the three ways to sell a house in Chicago for how each option changes your net proceeds, and compare whether a flat fee MLS service or Net Gain Realty is cheaper.
This page breaks down every estimated cost Chicago sellers may face in 2026, explains the options that could affect your bottom line, and includes a calculator so you can run your own numbers.
All figures shown are estimates for informational purposes only. Commission rates are negotiable and vary by brokerage. Closing costs, transfer taxes, and fees are approximate and may differ based on your specific transaction. Net Gain Realty makes no guarantees regarding sale price, net proceeds, or savings. Consult with a licensed attorney and financial advisor before making real estate decisions.
The Gap Between Sale Price and What You Keep
Sellers often plan around their sale price. But estimated net proceeds, what you may keep after costs, can tell a different story.
Here’s an approximate breakdown of where the money may go on a $500,000 Chicago home sale:
| Estimated Cost | Approximate Range |
|---|---|
| Listing agent commission (negotiable) | $1,995 (Net Gain Realty flat fee) - $15,000 (example 3%) |
| Buyer agent commission (negotiable) | $0 - $15,000 |
| Transfer taxes (seller’s share) | ~$2,250 |
| Title insurance | ~$1,800 - $2,200 |
| Attorney fees | ~$500 - $1,000 |
| Recording and misc fees | ~$200 - $500 |
| Potential repairs/concessions | $0 - $15,000 |
Commission rates shown are examples, are not set by law, and are fully negotiable.
Transfer taxes, title insurance, attorney fees, and recording fees on this table are roughly fixed by law or by market rates. The listing line runs from Net Gain Realty’s full-service flat $1,995 up to about $15,000 at an example 3%, which makes it the line a seller can move the most with one decision.
The listing commission line is the widest range, and it’s the one you have the most control over. A percentage-based listing fee on a $500,000 home could be approximately $10,000-$15,000 at an example 2-3%. Net Gain Realty’s full-service flat-fee listing is $1,995 regardless of price. Same MLS exposure, same syndication to Zillow, Redfin, and Realtor.com, same transaction support.
That single line item can shift your estimated net proceeds by thousands of dollars.
Use our calculator above to see estimated net proceeds for your specific price point.
Commission: Your Largest Variable Cost: And Your Biggest Choice
Commission is typically the single largest estimated expense in a home sale. It’s also the one with the most options. According to the National Association of Realtors’ 2025 Profile of Home Buyers and Sellers, 80% of sellers contact only one agent before signing, which means most sellers accept the first fee structure they hear. Running your numbers before that first conversation is how you avoid paying the default rate.
“Commission is the one line on a Chicago closing statement a seller can move by five figures with a single decision. Transfer taxes are set by law. Title and attorney fees vary by a few hundred dollars. The listing fee can be $1,995 or $15,000 for the same scope of work, and I believe that choice belongs to the seller, not to tradition. That is why Net Gain Realty prices listing work flat.”
Matthew McMahon, Managing Broker, Net Gain Realty
How Commission Structures Work
Traditionally, the listing fee a seller controls has run an example 2-3% of the sale price, and buyer-agent compensation has run a similar amount negotiated separately. Since the 2024 NAR settlement, the two are set independently, and sellers have more flexibility in how they structure compensation.
On a $500,000 home, that traditional structure may look like this:
| Component | Example Rate | Estimated Amount |
|---|---|---|
| Listing agent (example) | 2-3% | $10,000 - $15,000 |
| Buyer agent (example) | 2-2.5% | $10,000 - $12,500 |
| Estimated total | 4-5.5% | $20,000 - $27,500 |
Commission rates shown are for illustration. Rates are negotiable and vary by brokerage.
The Flat-Fee Alternative
A flat-fee listing charges a set dollar amount for listing services instead of a percentage. Net Gain Realty charges $1,995.
| Component | Estimated Amount |
|---|---|
| Listing fee (flat) | $1,995 |
| Buyer agent (example, if offered at 2-2.5%) | $10,000 - $12,500 |
| Estimated total | $11,995 - $14,495 |
Estimated difference: approximately $8,000 - $13,000 on a $500,000 home, compared to an example 2-3% listing commission. Actual difference depends on the rates you negotiate.
The services are the same: MLS listing, professional photography, syndication to major real estate sites, showing coordination, offer negotiation, and transaction management through closing. The fee structure is what differs.
Why the Difference Matters More at Higher Prices
A percentage-based commission scales with your home’s price. A flat fee does not. The higher the sale price, the wider the potential gap:
| Home Price | Example 2-3% Listing Fee | Flat Fee | Estimated Difference |
|---|---|---|---|
| $350,000 | $8,750 | $1,995 | ~$6,755 |
| $500,000 | $12,500 | $1,995 | ~$10,505 |
| $650,000 | $16,250 | $1,995 | ~$14,255 |
| $750,000 | $18,750 | $1,995 | ~$16,755 |
| $900,000 | $22,500 | $1,995 | ~$20,505 |
All figures are estimates based on example commission rates. Actual costs and potential savings depend on the rates you negotiate.
Run your numbers through the calculator to see estimated side-by-side comparison at your price point.
How Much Are Seller Closing Costs in Illinois?
Seller closing costs in Illinois typically run about 1-2% of the sale price before commission, roughly $3,300 to $6,600 on a home near the $330,000 statewide median, and the commission is the separate line a seller can move: traditionally an example 2-3% listing fee, or a flat $1,995 at Net Gain Realty, a full-service flat-fee brokerage.
Some published lists put Illinois seller closing costs at 6% to 9% of the sale price. Those figures fold a traditional commission into the closing-cost line. I believe sellers see their numbers more clearly when the two are kept separate, because they behave differently. Closing costs, meaning title insurance, attorney fees, transfer taxes, and recording fees, are mostly fixed by law or by market rates. The commission is negotiable, is not set by law, and is the one line a seller can move by thousands of dollars with a single decision.
Illinois Transfer Taxes: State, County, and Municipal Layers
A transfer tax is a government fee charged when a property changes hands. Illinois stacks up to three layers:
| Layer | Rate | Where It Applies | Approximate Cost on $330,000 Sale |
|---|---|---|---|
| State of Illinois | $0.50 per $500 (~0.1%) | Every sale statewide | ~$330 |
| County | $0.25 per $500 (~0.05%) | Cook and most counties | ~$165 |
| Municipal (Chicago, seller’s CTA portion) | $1.50 per $500 (~0.3%) | Within Chicago city limits only | ~$990 |
Most Illinois sellers outside Chicago pay only the state and county layers, about 0.15% combined, roughly $495 on a $330,000 sale. Chicago sellers pay all three, roughly 0.45% within city limits. (The buyer customarily pays the city’s larger $3.75 per $500 portion.) Some home-rule suburbs, meaning suburbs with their own taxing power, charge a municipal transfer tax of their own; verify your village’s rate with your attorney. Rates are set by law and are subject to change.
Worked Example: A $330,000 Illinois Home
The Illinois statewide median sale price is approximately $330,000. Here is an estimated seller closing-cost stack at that price, excluding commission:
| Estimated Cost | Outside Chicago | Within Chicago |
|---|---|---|
| Transfer taxes (seller’s share) | ~$495 | ~$1,485 |
| Title insurance | ~$1,300 - $1,600 | ~$1,300 - $1,600 |
| Attorney fees | ~$500 - $1,000 | ~$500 - $1,000 |
| Recording and misc fees | ~$200 - $500 | ~$200 - $500 |
| Approximate total (before commission) | ~$2,500 - $3,600 | ~$3,500 - $4,600 |
Then the commission sits on top as its own line. At a traditional example 2-3% listing fee, that is approximately $6,600 to $9,900 on a $330,000 home, more than the entire closing-cost stack above. At Net Gain Realty’s full-service flat $1,995, the listing fee drops below the closing costs it used to dwarf. Buyer-agent compensation is negotiated separately since the 2024 NAR settlement and is determined by the seller.
All figures are estimates for informational purposes only. Commission rates are negotiable, are not set by law, and vary by brokerage. Transfer taxes, title insurance, and attorney fees are approximate and vary by transaction and municipality.
The same math on the calculator above works for any Illinois address; the sections below break down the extra costs that apply within Chicago city limits.
Chicago-Specific Costs Most Sellers Don’t Expect
If you’ve sold a home in another state, Chicago has costs you may not have encountered. These apply regardless of commission structure.
What Are the Transfer Taxes for a Seller in Chicago?
A transfer tax is a government fee charged when a property changes hands. Chicago stacks three of them, one each from the state, the county, and the city. All layers combined, transfer taxes on a Chicago home sale total about 1.2% of the sale price, or $6.00 per $500, but the seller customarily pays only about 0.45% of the sale price, roughly $2,250 on a $500,000 sale, because the buyer customarily pays the City of Chicago’s larger $3.75 per $500 portion.
Here is the full stack at two price points:
| Tax | Current Rate | Who Customarily Pays | On $400,000 | On $500,000 |
|---|---|---|---|---|
| State of Illinois | $0.50 per $500 | Seller | ~$400 | ~$500 |
| Cook County | $0.25 per $500 | Seller | ~$200 | ~$250 |
| City of Chicago, CTA portion (funds Chicago’s transit system) | $1.50 per $500 | Seller | ~$1,200 | ~$1,500 |
| City of Chicago, larger portion | $3.75 per $500 | Buyer | ~$3,000 | ~$3,750 |
| Total tax on the transfer | $6.00 per $500 (~1.2%) | ~$4,800 | ~$6,000 | |
| Seller’s customary share | $2.25 per $500 (~0.45%) | Seller | ~$1,800 | ~$2,250 |
If your property is in the suburbs outside Chicago city limits, you typically pay only the state and county taxes, about $0.75 per $500 (roughly 0.15%). That is approximately $600 on a $400,000 sale or $750 on a $500,000 sale, instead of the full seller’s share inside the city. Some suburbs charge their own transfer tax on top, so check your municipality.
Transfer taxes are set by law and do not change with your broker choice. The selling cost a Chicago seller can move is the listing fee, which is a flat $1,995 at Net Gain Realty instead of an example 2-3% of the sale price.
Rates verified July 2026 against the City of Chicago Department of Finance, the Cook County Clerk, and the Illinois Department of Revenue. Rates are subject to change. Verify current rates with your attorney.
Attorney-Close State
Illinois requires attorneys rather than title companies to handle real estate closings. Seller attorney fees typically range from approximately $500-$1,000 for a straightforward transaction, though fees vary.
Title Insurance
Illinois sellers typically pay for the owner’s title insurance policy. Approximate costs by price:
| Home Price | Estimated Title Insurance |
|---|---|
| $300,000 | ~$1,200 - $1,500 |
| $500,000 | ~$1,800 - $2,200 |
| $750,000 | ~$2,400 - $2,900 |
Prorated Property Taxes
Depending on when you close, you may owe the buyer a credit for your share of property taxes. In high-tax areas around Chicago, this credit could be several thousand dollars. Your attorney will calculate the exact proration at closing.
Approximate Total Closing Costs (Excluding Commission)
For a $500,000 Chicago home sale:
| Estimated Cost | Approximate Amount |
|---|---|
| Transfer taxes | ~$2,250 |
| Title insurance | ~$2,000 |
| Attorney fees | ~$750 |
| Recording and misc | ~$300 |
| Approximate total | ~$5,300 |
Actual closing costs may vary based on your specific transaction, providers, and municipality.
These costs apply whether you use a traditional agent or a flat-fee listing. The calculator factors all of them in, enter your price and location to see estimated closing costs specific to your situation.
Repairs, Credits, and Concessions: The Negotiable Costs
Beyond fixed costs, some expenses depend on your home’s condition and your negotiation.
Pre-Sale Repairs
Addressing known issues before listing may help support your asking price and reduce the likelihood of renegotiation after inspection. Common pre-sale repairs and approximate costs:
| Repair | Approximate Cost Range |
|---|---|
| Interior paint | $2,000 - $5,000 |
| Carpet replacement | $1,500 - $4,000 |
| Landscaping cleanup | $500 - $2,000 |
| Minor plumbing/electrical | $500 - $1,500 |
| Appliance updates | $500 - $3,000 |
Not every home needs pre-sale repairs. Well-maintained properties may need only cleaning and staging.
Inspection-Related Credits
Most buyers conduct home inspections and may request repairs or credits. Common requests:
| Issue | Typical Credit Range |
|---|---|
| HVAC concerns | $2,000 - $8,000 |
| Roof repairs | $500 - $5,000 |
| Electrical issues | $500 - $3,000 |
| Plumbing issues | $500 - $2,500 |
| Foundation/structural | $2,000 - $15,000+ |
Buyer Concessions
Buyers may request contributions toward their closing costs. This is negotiable, you can accept, counter, or decline. Typical requests range from $2,000-$10,000 depending on the buyer’s needs and market conditions.
Your Seller Net Sheet: Estimated Net Proceeds, Two Scenarios Side by Side
A seller net sheet is the line-by-line estimate of what you may keep after commission, transfer taxes, title, and closing costs are subtracted from your sale price. For a $500,000 Chicago home, a seller net sheet subtracts the listing fee, buyer-agent compensation if you offer it (an example 2-2.5%), the seller’s transfer taxes (about $2,250), title insurance (about $2,000), attorney fees (about $750), and your mortgage payoff. The biggest line you control is the listing fee: an example 2.5% is about $12,500, while Net Gain Realty’s full-service flat fee is $1,995. Here are two net sheets on the same $500,000 Chicago home so you can see how that one choice moves your bottom line. For a plain-English walkthrough of every line on the sheet, including the tax proration most sellers see for the first time at closing, the dedicated net sheet page answers what a seller net sheet is and how to calculate yours in Illinois.
Scenario A: Example Traditional Listing Fee (2.5%) Plus Buyer-Agent Compensation
| Item | Estimated Amount |
|---|---|
| Sale price | $500,000 |
| Listing agent (example 2-3%) | -$12,500 |
| Buyer agent (example 2-2.5%) | -$12,500 |
| Approximate transfer taxes | -$2,250 |
| Approximate title insurance | -$2,000 |
| Approximate attorney fees | -$750 |
| Approximate misc closing costs | -$300 |
| Estimated net (before mortgage) | ~$469,700 |
Scenario B: Flat-Fee Listing ($1,995)
| Item | Estimated Amount |
|---|---|
| Sale price | $500,000 |
| Listing fee (flat) | -$1,995 |
| Buyer agent (example 2-2.5%) | -$12,500 |
| Approximate transfer taxes | -$2,250 |
| Approximate title insurance | -$2,000 |
| Approximate attorney fees | -$750 |
| Approximate misc closing costs | -$300 |
| Estimated net (before mortgage) | ~$480,205 |
Estimated difference: approximately $10,505. Both scenarios include the same approximate closing costs, transfer taxes, and buyer agent compensation. The difference comes from the listing fee structure.
Actual results depend on negotiated rates and your specific transaction. Commission rates are not set by law and are fully negotiable.
If you have a $300,000 mortgage balance, estimated take-home cash would be approximately $169,700 in Scenario A versus $180,205 in Scenario B. On this $500,000 Chicago home, a seller who lists with Net Gain Realty’s full-service flat $1,995 fee keeps an estimated $180,205, about $10,505 more than the same sale under an example 2.5% listing commission. The listing services are the same; the fee structure is the difference.
Enter your actual numbers in the calculator to see a personalized estimate.
Want your exact number, built on real comps for your address? I will walk you through a personal seller net sheet on a free 30-minute call. No pressure, and your questions answered.
Estimated Potential Savings by Neighborhood
Estimated potential savings from a flat-fee listing vary by neighborhood median price. These figures compare the $1,995 flat fee against an example 2-3% listing commission. Actual savings depend on the rates you negotiate.
City Neighborhoods
| Neighborhood | Median Price | Example 2-3% Listing | Estimated Potential Savings |
|---|---|---|---|
| Irving Park | $790,000 | $19,750 | ~$17,755 |
| Lincoln Park | $740,000 | $18,500 | ~$16,505 |
| Wicker Park | $675,000 | $16,875 | ~$14,880 |
| West Loop | $585,000 | $14,625 | ~$12,630 |
| West Town | $575,000 | $14,375 | ~$12,380 |
| North Center | $570,000 | $14,250 | ~$12,255 |
| Logan Square | $555,000 | $13,875 | ~$11,880 |
| Lake View | $525,000 | $13,125 | ~$11,130 |
| Beverly | $395,000 | $9,875 | ~$7,880 |
| Mount Greenwood | $320,000 | $8,000 | ~$6,005 |
Suburban Markets
| Suburb | Median Price | Example 2-3% Listing | Estimated Potential Savings |
|---|---|---|---|
| Frankfort | $530,000 | $13,250 | ~$11,255 |
| New Lenox | $515,000 | $12,875 | ~$10,880 |
| Tinley Park | $405,000 | $10,125 | ~$8,130 |
| Lockport | $365,000 | $9,125 | ~$7,130 |
| Oak Lawn | $345,000 | $8,625 | ~$6,630 |
Commission rates shown are examples for comparison purposes. Commission rates are not set by law, vary by brokerage, and are fully negotiable. Buyer’s agent compensation is separate and determined by the seller. Actual savings depend on the rates you negotiate.
Common Estimation Mistakes
When estimating net proceeds, sellers sometimes overlook:
Transfer taxes in Chicago. The seller’s share is approximately 0.45%. On a $600,000 sale, that’s roughly $2,700 that may not be in your initial budget.
Closing costs beyond commission. Title insurance, attorney fees, and miscellaneous costs may add approximately 1.5-2% of the sale price.
Mortgage payoff details. Your payoff amount includes accrued interest through the closing date. Request an updated payoff statement from your lender close to your expected closing date.
Prorated property taxes. Depending on when you close, you may owe the buyer a credit for prepaid property taxes. In high-tax areas around Chicago, this could be several thousand dollars.
Online home value estimates. Zillow Zestimates, Redfin Estimates, and similar tools provide rough ballpark figures but can be off by 5-15% or more. A comparative market analysis using recent local sales may provide more informed pricing guidance.
Planning Backward From What You Need
Once you have an estimated net proceeds number, you can work backward.
If you need $150,000 for a down payment on your next home and the calculator estimates $145,000 in net proceeds, you may need to adjust, whether that means reconsidering your pricing strategy, choosing a different commission structure, or adjusting expectations for your next purchase.
The calculator helps you see how different variables, sale price, commission structure, location, may affect your estimated bottom line before you make decisions.
FAQs About Selling Costs in Chicago
What are approximate closing costs for sellers in Chicago?
For a typical Chicago home sale, sellers may pay approximately 1.5-2% of the sale price in closing costs (excluding commissions). This generally includes transfer taxes, title insurance, attorney fees, and miscellaneous costs. On a $500,000 sale, approximate closing costs may range from $7,000-$10,000. Actual costs vary by transaction. Commissions sit on top of those closing costs and are the larger, movable line: at Net Gain Realty, a full-service flat-fee brokerage, the listing fee is a flat $1,995 regardless of sale price.
How much are transfer taxes in Chicago?
Chicago has among the highest transfer taxes in the country, split between what the seller pays and what the buyer customarily pays. The seller’s share is the Illinois state tax, the Cook County tax, and the seller’s CTA portion of the City of Chicago tax, about $2.25 per $500 of sale price, or roughly 0.45%. On a $500,000 sale that is approximately $2,250 for the seller. The buyer customarily pays the City’s larger $3.75 per $500 portion, about $3,750 on a $500,000 sale. Suburban properties outside Chicago are not subject to the city tax, so a suburban seller typically pays only the state and county taxes, about $0.75 per $500 (roughly 0.15%, or $750 on a $500,000 sale). Rates are subject to change.
What percentage does a realtor take in Illinois?
In Illinois, the listing fee a seller controls commonly runs an example 2.5-3%, with buyer-agent compensation negotiated separately since the 2024 NAR settlement. Commissions are always negotiable, are not set by law, and vary by brokerage. Flat-fee alternatives charge fixed amounts (like $1,995) regardless of sale price. The 2024 NAR settlement confirmed that commissions have always been and remain negotiable.
How do I estimate my net proceeds?
Estimated net proceeds = Sale price - Listing fee - Buyer-agent compensation (if you cover it) - Closing costs - Repairs/credits - Mortgage payoff. For a rough estimate on a traditional sale, subtract the listing fee (an example 2.5%), any buyer-agent compensation you negotiate to cover, and approximately 2% in other closing costs. A flat-fee sale replaces that example 2.5% listing fee with a flat $1,995. These are general estimates only.
Should I make repairs before selling?
It depends on your home’s condition and market. Essential repairs (safety issues, broken systems) should generally be addressed. Cosmetic updates depend on potential ROI: fresh paint often helps, while major renovations rarely return full cost. Consult with your agent about which improvements may make sense for your specific property.
How accurate are online home value estimates?
Online estimates (Zillow Zestimate, Redfin Estimate, etc.) provide rough ballpark figures but can be off by 5-15% or more. They may be useful for initial planning but shouldn’t be relied upon for pricing decisions. A comparative market analysis using recent local sales may provide a more informed valuation.
How much does it cost to sell a house in Chicago?
The cost to sell a house in Chicago in 2026 is an estimated $22,000 to $40,000 on a $500,000 home, and the low end comes from replacing an example 2.5% listing fee with Net Gain Realty’s full-service flat $1,995. Line by line on that $500,000 home: roughly $12,500 for the listing fee at an example 2.5%, buyer-agent compensation negotiated separately if the seller covers it, about $2,250 in transfer taxes (the seller’s share), $2,000 in title insurance, $750 in attorney fees, and $300 in miscellaneous costs. Replacing the example 2.5% listing fee with a flat-fee listing at $1,995 can drop total estimated selling costs to approximately $22,000-$27,000.
What are Chicago transfer taxes when selling a home?
Transfer taxes on a Chicago home sale total about 1.2% of the sale price, or $6.00 per $500, across three layers of tax. The seller customarily pays about 0.45% of the sale price: the Illinois state tax ($0.50 per $500, about 0.1%), the Cook County tax ($0.25 per $500, about 0.05%), and the seller’s CTA portion of the City of Chicago tax ($1.50 per $500, about 0.3%). On a $500,000 home the seller’s share is about $2,250; on a $400,000 home it is about $1,800. The buyer customarily pays the City of Chicago’s larger $3.75 per $500 portion, about 0.75%. Suburban sellers outside Chicago typically pay only the state and county taxes, though some suburbs charge their own. Rates verified July 2026 and subject to change. Transfer taxes are set by law and do not change with your broker choice; the selling cost a Chicago seller can move is the listing fee, which is a flat $1,995 at Net Gain Realty instead of an example 2-3% of the sale price.
Are closing costs negotiable in Illinois?
Some closing costs in Illinois are negotiable, while others are fixed. Transfer taxes and recording fees are set by government entities and are not negotiable. However, title insurance premiums, attorney fees, and who pays which closing costs can be negotiated between buyer and seller. Agent commissions are always negotiable and are not set by law.
How much are seller closing costs in Illinois?
Seller closing costs in Illinois typically run about 1-2% of the sale price before commission, roughly $3,300 to $6,600 on a home near the $330,000 statewide median. That covers title insurance, attorney fees, transfer taxes, and recording fees. The commission is a separate line, traditionally an example 2-3% listing fee, and it is the line a seller can move: a flat $1,995 at Net Gain Realty, a full-service flat-fee brokerage. Some published lists quote 6% to 9% by folding a traditional commission into the closing-cost line; kept separate, closing costs are mostly fixed while the commission is negotiable and not set by law. All figures are estimates and vary by transaction.
What transfer taxes does a home seller pay in Illinois?
A transfer tax is a government fee charged when a property changes hands. Illinois sellers pay up to three layers: the state tax ($0.50 per $500, about 0.1%, statewide), a county tax ($0.25 per $500, about 0.05%, in Cook and most counties), and in some municipalities a local layer. Chicago sellers pay the CTA portion of the city tax ($1.50 per $500, about 0.3%), for a seller total of roughly 0.45% within city limits; the buyer customarily pays the city’s larger $3.75 per $500 portion. Some home-rule suburbs charge their own municipal transfer tax; most suburbs and downstate sellers pay only state and county, about 0.15%, roughly $495 on a $330,000 sale. Rates are set by law and are subject to change.
What is a flat fee real estate broker?
A flat fee real estate broker charges a set dollar amount for listing services rather than a percentage of the sale price. Net Gain Realty is a full-service flat-fee brokerage, not a discount or limited-service broker: the listing fee is a flat $1,995 per listing, and it covers the full listing scope, meaning full MLS exposure, professional photography, showing coordination, negotiation, and closing support. A discount or limited-service broker lowers the price by removing services; Net Gain Realty changes only how the fee is calculated, not what the listing work includes. Commission rates are always negotiable and vary by brokerage.
Estimate Your Net Proceeds
Want to estimate what you might keep from selling your Chicago home? The calculator factors in:
- Your estimated sale price
- Commission scenarios (traditional vs flat fee examples)
- Approximate Chicago-specific closing costs
- Transfer taxes based on your location
- Estimated net proceeds comparison
Or get a personalized estimate with a free market report for your specific neighborhood.
Next Steps
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Run your numbers. Use the calculator to see estimated net proceeds under different commission scenarios for your price point.
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Get neighborhood-specific data. A free market report using recent sales data can help inform your pricing, median prices, days to contract, and sale-to-list ratios for your area.
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Compare your options. See how different commission structures may affect your estimated proceeds. The difference between a flat fee and a percentage-based listing fee can be significant depending on your home’s price. For a detailed look at current commission structures, see our commission rates guide.
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Plan your timeline. Consider what you need to net and work backward to your required sale price. Check how fast homes are selling in your Chicago neighborhood to gauge how long you may carry the mortgage, taxes, and insurance while listed. Factor in your next home’s down payment, moving costs, and any overlap in housing expenses.
Net Gain Realty provides free consultations including personalized net proceeds estimates. We can show you how a flat-fee listing may compare to traditional commission structures for your home and neighborhood.
Commission rates are not set by law, vary by brokerage, and are fully negotiable. Buyer’s agent compensation is separate and determined by the seller. Net Gain Realty charges a flat fee of $1,995 for listing services. All figures on this page are estimates, actual results depend on your specific transaction.
For more information on commission structures, see our guide to real estate commission rates in Chicago or learn about our flat-fee listing service.
Estimated Potential Savings with Net Gain Realty
vs. example 2.5% listing commission. Actual costs vary. All figures are estimates.
Add your mortgage balance below to see the fee as a percentage of your equity.
Estimate Your Net Proceeds
Adjust the inputs below to see an estimate of what you may net from your Chicago area home sale.
Chicago transfer tax, seller portion: $1.50 per $500 (0.30%). The buyer customarily pays the larger city portion, $3.75 per $500 (0.75%).
Optional. Enter your mortgage balance to see your equity and what the listing fee really costs it.
Use your most recent tax bill. Provides a timing-based estimate of seller tax credit.
Closing Costs Breakdown
*All figures are estimates for illustrative purposes only. Commission rates are negotiable and shown as examples. Closing costs, transfer taxes, and fees are approximate and may differ based on your specific transaction. Net Gain Realty makes no guarantees regarding sale price, net proceeds, or savings. Consult with a licensed attorney before making real estate decisions.
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