Top Land Buyers in Wooded & Timberland

How long does it typically take to sell vacant land in Illinois?

In the current 2025 market, selling vacant land in Illinois typically takes between 6 to 12 months. However, market velocity varies significantly by county. In the Chicago metropolitan area (Cook, DuPage, and Lake counties), the average "days on market" for vacant lots ranges from 190 to 210 days. Interestingly, Rockford has emerged as the most popular market in the U.S. for 2025, where high demand for affordable housing has reduced land turnover times to under 4 months for residential infill. Remote agricultural land in Southern Illinois often requires the full 12-month window. Sellers should expect a standard due diligence period of 45 to 60 days for buyers to conduct soil tests and verify local zoning ordinances.

What are the common closing costs for land sellers in Illinois?

Illinois is a mandatory attorney closing state, meaning a licensed attorney must oversee the transaction, handle the title search, and draft the deed. This makes closing in Illinois more legally rigorous and slightly more expensive than in "title-only" states. Sellers can expect to pay between 7% and 10% of the sale price in total expenses, with real estate commissions accounting for the largest share. Attorney fees for a 2025 land sale in Illinois typically range from $800 to $1,500 for a standard transaction, or an average hourly rate of $275 per hour for complex land partitions.

Specific costs for 2025 include:

• State Transfer Tax: The state-mandated rate is $0.50 per $500 ($1.00 per $1,000) of the property's sale price.
• County Transfer Tax: Most Illinois counties charge an additional $0.25 per $500 ($0.50 per $1,000). Total standard transfer taxes generally equal $0.75 per $500.
• Title Insurance: Sellers customarily pay for the Owner’s Title Policy, which averages $1,200 to $2,500 depending on the parcel value.
• City-Specific Taxes: Be aware that some municipalities have their own transfer stamps. For example, Chicago has a much higher combined rate, frequently totaling over $5.25 per $500 (shared between buyer and seller).

Do I need a survey to sell my land in Illinois?

While Illinois state law does not strictly mandate a survey for a private property transfer, it is a practical necessity in 2025. Most title companies will not remove "boundary exceptions" from a title insurance policy without a Plat of Survey prepared by an Illinois Professional Land Surveyor. Furthermore, lenders and municipal zoning boards require a recent survey (typically less than 12 months old) to approve any new construction or septic permits. In 2025, a standard boundary survey for a residential lot costs $500 to $900, while large-scale Farmland or Industrial Infill tracts can exceed $3,000 due to complex legal descriptions and monument recovery requirements.

How is the land market trending in Illinois for the next 12 months?

The Illinois land market for 2026 is projected to show resilient stability with localized hotspots. Following 2025's trend, mid-sized markets like Rockford and the Fox Valley corridor are seeing the highest transaction volumes as buyers seek affordability outside of Chicago. Farmland values remain a top choice for investors, with prime Central Illinois acreage (McLean and Champaign counties) commanding prices between $16,250 and $17,500 per acre. Overall, land values are expected to grow at a conservative 1.5% to 2.8%. A significant trend is the rise in Solar and Sustainable Ag demand, as over 60% of farmland sales in 2025 now feature some form of sustainability incentive or renewable energy lease potential.

Can I sell land in Illinois if I have back taxes or title issues?

Yes, you can sell land with back taxes in Illinois, but you must act before the Tax Deed process is finalized. In Illinois, property taxes are sold at an annual auction. For vacant non-farm property, commercial land, or large industrial tracts, the owner has a one-year redemption period from the date of the sale to pay the taxes, interest, and penalties to reclaim the title. For residential land (under 6 units), this period is extended to 2.5 years. Once this window closes and a tax deed is issued, ownership is forfeited.

For inherited land, Illinois probate law allows for a "Power of Sale": if the decedent’s will explicitly grants the executor the power to sell real estate, they can often proceed with the sale without a specific court order for the license to sell. However, the probate court must still approve the final sale price to ensure transparency for the heirs. This process is frequently used to clear titles for Industrial Infill or Renewable Energy projects where a quick, court-vetted closing is required.

What is the most in-demand type of land in Illinois right now?

The highest demand in the 2025 Illinois market is for Prime Farmland and Industrial Infill. Illinois remains a national leader in fertile soil, and Central Illinois farmland is currently the top-tier asset class for institutional investors seeking stable returns and carbon sequestration opportunities. Additionally, Industrial Logistics Infill near the O'Hare and Rockford logistics hubs is fetching a significant premium due to the expansion of e-commerce and high-tech manufacturing. In the suburban sector, "Shovel-Ready" Residential Lots are in high demand as builders scramble to meet the needs of the 2025 population shift toward the Midwest's more affordable job centers.