Chicago home buyers pay the City of Chicago real property transfer tax at $3.75 per $500 of the purchase price, which is 0.75%. On a $400,000 home, that is $3,000 due at closing. Sellers pay the remaining $1.50 per $500 of the city tax, plus the Cook County and Illinois transfer taxes.
Last reviewed October 1, 2026 ยท Chicago First Time Home Buyer editorial team
Transfer taxes on a Chicago home sale
| Tax | Rate per $500 | Percent of price | Paid by |
|---|---|---|---|
| City of Chicago, buyer portion | $3.75 | 0.75% | Buyer |
| City of Chicago, seller portion | $1.50 | 0.30% | Seller |
| Cook County | $0.25 | 0.05% | Seller |
| State of Illinois | $0.50 | 0.10% | Seller |
What the buyer’s share comes to
| Purchase price | Buyer’s city transfer tax |
|---|---|
| $250,000 | $1,875 |
| $300,000 | $2,250 |
| $400,000 | $3,000 |
| $500,000 | $3,750 |
Common questions
Does Chicago charge a higher transfer tax on expensive homes?
No. The 2024 Bring Chicago Home ballot measure would have raised the rate on higher-priced sales, but voters rejected it. The rate is the same at every price.
Can down payment assistance pay the transfer tax?
Programs such as HomeGrown cover eligible closing costs. Ask the program administrator whether the transfer tax counts as one for your purchase.
Sources
- City of Chicago Department of Finance, Real Property Transfer Tax (7551)
- The Civic Federation, What is a real estate transfer tax?
- Chicago closing costs and transfer tax rates, 2026
- Bring Chicago Home ballot measure, 2024
Cite this page: Chicago First Time Home Buyer, “Chicago Real Estate Transfer Tax,” reviewed October 1, 2026, chicagofirsttimehomebuyer.com/costs/transfer-tax/.