Illinois adds a municipal layer to almost everything. Transfer stamps are issued by the state, the county and often the city, and some municipalities will not issue theirs until an inspection is done or a final water bill is paid. Outside Chicago the questions change entirely to farmland, small-town commercial and tax-delinquent parcels. All 102 counties.
Federal tax rules are the same in every state. These three are set by Illinois and by the county where the property sits.
Illinois charges state and county transfer taxes, plus local taxes in Chicago and some other municipalities. It is customarily charged to the grantor, and how it applies to a gift with no consideration is confirmed when we prepare the deed.
Illinois conveyances are filed with a transfer declaration, and many municipalities require their own transfer stamp before the deed can be recorded, sometimes conditioned on a point-of-sale inspection or a paid final water bill. We find out what your municipality requires before the deed is drafted rather than at the counter.
Deeds are recorded with the county recorder for the county where the property sits. You sign before a notary wherever you live, and we handle the filing.
Four situations the state produces more of than most.
Each links to the full guide for that type, including how a donation compares with selling.
Chicago and the farm counties are the same state and almost nothing alike.
Two-flats, greystones and bungalows, with city transfer stamps and, in some wards, inspection requirements before a deed can be recorded.
Post-war housing and small commercial, with a property tax burden that is often what prompts the call.
Newer suburban stock, some of it inherited, plus land on the development edge that stalled.
City housing where repairs outrun value, and farm ground on the Wisconsin line.
Cash-rented cropland, grain infrastructure and small-town commercial buildings.
Timber and pasture, former coal towns and low-value housing stock with real carrying costs.
A local guide for the city Illinois donors ask about most, covering the municipal transfer stamps and the inspection rules that come with them. Every other Illinois city is covered by this page.
Illinois charges state and county transfer taxes, plus local taxes in Chicago and some other municipalities. It is customarily charged to the grantor, and how it applies to a gift with no consideration is confirmed when we prepare the deed.
No. We prepare the deed in the form Illinois requires for the county where the property sits, you sign before a notary where you live, and we record it with the county recorder.
Often, and the redemption timetable decides it. In Illinois delinquent taxes are sold rather than the property itself, and the buyer must wait out a redemption period before petitioning for a deed. Send the tax sale certificate details and the parcel number so we can see the dates.
Illinois has a state income tax, and how it treats a charitable contribution is set by Illinois law rather than by us. Your federal deduction follows the usual IRS rules. Take the state question to your own advisor.
No, it adds a step. Some Illinois municipalities condition their transfer stamp on an inspection or a paid final water bill. We find out what yours requires at the start and deal with it, and we do not ask you to make repairs first.
We do not provide tax or legal advice. State and local transfer tax rules change; we confirm current requirements when we prepare each deed. Consult your own advisor.
The county and a parcel number are enough to start.
