Built for Chicago agents
Chicago adds its own taxes and ordinances to Illinois law, and Cook County adds its own. Reddy knows all three, and shows you where each one comes from.
Reddy knows the Chicago details that slow a deal down: the written brokerage agreement Illinois requires, the disclosure report the seller delivers before the contract is signed, MRED's 24-hour rule after you advertise a listing, the City's transfer tax and the certificates a sale needs, the RLTO summary every lease carries, and the Cook County tax bill that comes the year after. Every rule comes with a link to its source, so you can check it before you tell a client.
A Chicago net sheet for a condo
Illustrative workflow with fictional people and properties. Actual results depend on the information and connections available.
Your message
Make a net sheet for my fictional seller: 2140 N Example Ave, Unit 3, Chicago, IL 60614, in Cook County, a condominium unit, sale price $610,000, closing November 20, 2026, 5% commission, no mortgage, the seller is not a foreign person, the contract prorates the tax on $9,800 a year, and last year's tax is fully paid.
Charge the transfer taxes
The State tax is $1 per $1,000 and the Cook County tax is $0.50 per $1,000, both on the seller. The home is inside the City of Chicago, so the sheet adds the seller's CTA portion of the Chicago tax, $3 per $1,000. The buyer pays the rest of the City's tax.
Prorate this year's tax
Cook County collects the 2026 tax in 2027, so none of it is paid at closing. The sheet charges the seller from January 1 to the closing date, from the $9,800 the contract uses. Last year's tax is paid, so there is no payoff line for it.
Add what the sheet leaves out
The sheet shows $568,082.67 in estimated proceeds, after $41,917.33 in costs: the $30,500 commission, $8,672.33 of this year's tax, the $610 State tax, the $305 Cook County tax, and the $1,830 Chicago CTA portion. It has no owner's title policy and no closing, title, water, or zoning certificate fees. Add your own fees, and confirm the final figures with your attorney or title company.
The Chicago details Reddy already handles
These are not settings you turn on. They are how Reddy works for every agent in Chicago today.
- Cook County seller net sheets
The State and Cook County transfer taxes, which the Cook County Clerk lists as the seller's, and, inside the City of Chicago, the seller's CTA portion of the Chicago tax. The tax is prorated from the figure your contract uses, and last year's unpaid tax goes to the seller.
- Illinois brokerage agreements
Since January 1, 2025, every brokerage agreement is in writing. Reddy knows what a buyer or listing agreement must contain, designated agency, and the written consent dual agency needs.
- Disclosures and condo resales
The Residential Real Property Disclosure Report before the contract is signed, the buyer's 5 business days to terminate after a late report that shows a defect, the radon pamphlet, lead-based paint, and the condominium resale documents.
- Rentals in Chicago
Illinois deposit and eviction notice rules, and, inside the City of Chicago, the Residential Landlord and Tenant Ordinance, the summary attached to each lease, and the shared housing registration. Cook County's tenant ordinance covers suburban Cook County.
- MRED and closing steps
A listing goes into MRED within 48 hours, or within 24 hours after you advertise it to the public. A City sale also needs the water Full Payment Certificate, and a home of five or fewer units needs a Certificate of Zoning Compliance.
- Comps that know Chicago
When you ask Reddy to check a Chicago comp in chat, it names each difference that moves a Chicago value: the property type, condo assessments, the Cook County reassessment region, exemptions on the bill, and the school district. It says where each sold price came from, and when one comes from a transfer declaration, which is a public record.
Local knowledge at no extra cost
The Chicago details come with every plan. You pick a plan for your pipeline, not for your market.
Net sheets are estimates and leave out a suburb's own transfer tax, the owner's title policy, and the closing, title, water, and zoning certificate fees. Confirm final figures with your attorney or title company.
What Chicago agents notice
- The right transfer tax
A Chicago address pays the City's CTA portion; an Evanston address does not. Reddy asks which city the home is in before it adds the line.
- Last year's tax caught
Cook County bills last year's tax this year, so the sheet asks what is still unpaid and puts it on the seller's side.
- Rules you can point to
Every RLTO, transfer tax, and MRED answer comes with the City's, the County's, or MRED's own page.
Working in Chicago? Book a call and see a net sheet for one of your own listings.
See pricingBuilt for Chicago: common questions
Net sheets, the Chicago transfer tax, Cook County tax bills, and what Reddy leaves to your attorney.
Which sales does the net sheet cover?
Any sale in Cook County. It charges the State and Cook County transfer taxes to the seller and, inside the City of Chicago, the seller's CTA portion of the Chicago tax. It prorates the property tax from the figure your contract uses, and asks how much of last year's tax is still unpaid.
What does an Illinois net sheet leave out?
A suburb's own transfer tax, the owner's title policy, and the closing, title, water, and zoning certificate fees. Add your own fees, and Reddy puts them on every sheet. A county other than Cook is not covered yet.
Where do Chicago comps get sold prices?
From MRED through you, or from public records: Illinois transfer declarations are public records, and the Cook County Assessor publishes sales data. Reddy says which source each price comes from.
Is this legal advice?
No. Reddy gives the rule and its source. For a contract, a disclosure, or a dispute, your attorney decides.
Related capabilities
Reddy is not a law firm and does not give legal advice. Always verify legal matters with a qualified professional.