Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of companies in this post do not constitute an endorsement. Individual program details can also frequently change — please visit a company’s website for the most up-to-date information on each program’s fees, market coverage, business model, and more. HomeLight always recommends doing your own research to determine which selling option is best for your situation. We Buy Houses companies in Illinois make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it. Maybe you’ve got a job transfer that’s going to whisk you out of Chicago faster than you can say “Windy City.” Perhaps your aging relatives are ready to trade snowy Naperville for sunny Naples, but their house is in need of daunting repairs. Or, maybe, a medical situation means you simply cannot afford to wait for months while your home goes through a traditional sale. If you need to sell your Illinois home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much an Illinois house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving. We Buy Houses companies in Illinois typically promise quick, all-cash offers and ultra-fast closings, often in as few as seven days. They tend to target distressed properties in need of repairs, and work with sellers who need to move ASAP. Here’s how the process generally works: If these benefits of selling to a house-buying company in Illinois sound good to you, it’s time to find a legitimate operation you can trust. We’ve compiled some of the top companies that will pay cash for your parent’s traditional two-story home in Springfield or your off-campus ranch in Champaign-Urbana. By selling to one of these companies, you should be able to sell your Illinois home in as little as a week or two. Website: sellmyhousefastchicagoland.com
Phone number: (312) 869-2289
Locations: Throughout Illinois, mainly around Chicago Sell My House Fast Chicagoland is a small (but mighty) team of real estate professionals who specialize in taking care of “burdensome properties.” They pride themselves in helping sellers out of difficult situations, including foreclosure, divorce, and unwanted tenant scenarios. The process at Sell My House Fast Chicagoland is simple: Fill out the information online and they’ll set up a walk-through appointment. After viewing the property, they’ll make a no-obligation offer that sellers can either accept or reject. Closing can happen within a week, or on a timeline that works best for all parties. Closing costs: No closing costs for sellers. Reviews: Sell My House Fast Chicagoland has a five-star Google rating with multiple reviews attesting to their kindness, customer service, and family values. Many sellers seem to appreciate the ease of the process, especially when selling older properties for family members. Customers say they enjoyed doing business with Sell My House Fast Chicagoland and that they highly recommend the company. Though this particular branch is not BBB rated, other franchises within the larger company have A+ ratings. Contact information: homelight.com/simple
Phone: (844) 488-8455
Locations: Nationwide, including Illinois Simple Sale, a solution from HomeLight, is an online platform where sellers in Illinois (and across the country) can request a cash offer for their home. Simple Sale has a network of cash buyers on its platform, and partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. This enables Simple Sale to provide cash offers for a wide array of properties, even those that need some or a lot of work, in different locations throughout Illinois. With Simple Sale, you can get an all-cash offer in as few as 48 hours and sell your home in as little as 10 days, skipping the months it can take to sell the traditional way. Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary. Reviews: Simple Sale is a HomeLight platform. HomeLight is BBB accredited with a customer review rating of 4.72 stars out of 5, and has 4.6 stars on Google based on 355 user reviews. Below you can hear about how Baohan Wu, a seller who used Simple Sale to sell his high-rise apartment, closed within three and a half weeks and what he thought of the process overall. Website: ibuyil.com
Phone number: (312) 584-2960
Locations: Statewide, mainly Chicagoland I Buy IL is an established team of investors and real estate professionals located in the west suburbs of Chicago. They are licensed within the state and buy property primarily in the Chicagoland area. The company focuses on a hassle-free experience for sellers in unusual situations. Working with I Buy IL includes a cash offer within 24 hours and a flexible closing date in as little as 7 days. They specialize in probate cases, so sellers who have experienced a death in the family may be particularly interested in the expertise that I Buy IL has to offer. They can even help with moving services and/or removal of unwanted items. Closing costs: No closing costs for sellers. Reviews: With a 4.3-star Google rating, I Buy IL has a great reputation among past clients for honesty and professionalism. Reviews express gratitude for their willingness to help them with difficult situations, and many sellers seem impressed by the ease of the process. In fact, any negative reviews seem to come from people who just did not like their marketing mailers. Website: windycitysolutions.com
Phone number: 708-832-6654
Locations: All of Illinois, dealing mostly in Chicagoland Windy City Solutions has been in business for five years in the greater Chicago area. They promise a three-step process that is 100% stress-free for sellers, where they handle all paperwork, inspections, and closing proceedings. The company is upfront in saying that they may not be able to make offers on all properties; as a smaller company, they have a buying criteria that may be more selective. However, when an offer is made, they can move fast –– sometimes they can even cut a check on the same day that the offer is accepted. They also are known to consider small multi-family properties of 2-4 units. Closing costs: Sellers pay no closing costs. Reviews: Windy City Solutions enjoys a five-star rating on Google, with customers praising their patience and professionalism in all aspects. Many go on to say that the company exceeded expectations and demonstrated a customer-centric, non-pushy attitude. They also have an A+ rating on BBB, though they are not officially accredited. Website: webuyuglyhouses.com
Phone number: (877) 415-6581
Locations: Nationwide, including most zip codes in Illinois We Buy Ugly Houses, also known as HomeVestors, is a nationwide house-buying company that’s been around for over 25 years. With franchises throughout the country, there are several branches that service the state of Illinois. After filling out the online form, HomeVestors will send a representative to inspect the property before making an offer. Once an offer is in place, closing can happen in as little as three weeks. Though that timeline may be a little longer than other local house-buying companies, the nationwide backing may allow HomeVestors to take on deals that other cash-offer businesses can’t really afford (which in turn could lead to higher offers for sellers). As such, sellers in cooler markets may find HomeVestors to be a good option, especially for a distressed property. Closing costs: HomeVestors covers all closing costs. Reviews: As a whole, HomeVestors touts an A+ BBB rating, but each branch has a different accreditation time record. In general, Google reviews speak highly of the Illinois franchises, with customers saying that they were pleasantly surprised by the offers they received. There are plenty of reasons an Illinois seller may choose to go the Cash-For-Homes route, speed and certainty being chief among them. In Illinois, it typically takes around 82 days to sell a home using the traditional real estate agent method. That includes a 2022 average of 28 days on the market, plus the typical 54 days a buyer needs to close on a purchase loan. Compare that to the typical seven days promised by many We Buy Houses for Cash companies in Illinois, and you can see why these companies remain popular, even though they don’t always offer top dollar. Not every seller has months to prep, market, show, and close. Let’s look at some common reasons Illinois sellers choose Cash-For-Homes companies over listing the traditional way. If any of these sounds like you, requesting a cash offer from a We Buy Houses for Cash company might be a good starting point, though it’s not your only option, and it may not be your best move (we’ll dive into your other options in just a minute!). By now, you’ve probably figured out that We Buy Houses for Cash companies in Illinois are a bit of a mixed bag. You get speed and service, but you “pay” a sizable premium for that service. Let’s walk through a few pros and cons to consider while weighing your options. One of the biggest advantages of working with We Buy Houses for Cash companies in Illinois is that you can sell your home as-is with no repairs required, and they’ll buy homes in any condition. If your home was severely damaged in a weather event, or you’ve fallen years behind on routine maintenance, you can still sell without needing to make the extensive repairs that financed buyers may require. Here are some other pros to consider: That all may sound pretty great to you as a seller if you’re looking to move within weeks rather than the months it might take you to list and sell your home on the market with an agent. However, there are downsides to working with Cash-For-Homes companies. Namely, they typically offer substantially below market value for your home. When considering an offer from a We Buy Houses site, remember that these are house-buying companies, which means they’re ultimately trying to make a profit. They plan to fix up your home and either resell it or rent it out. That takes considerable time, skill, and investment. Here are some potential downsides to weigh: Your home is more than a place where you make memories with family, it’s also likely your biggest asset. Sure, you want to sell quickly, but you could be leaving major money on the table if you choose to work with one of these We Buy Houses for Cash companies. Always do your research, compare your options, and consult with a trusted advisor before accepting any offer. For many home sellers, We Buy Houses for Cash companies can be a solid solution to get a property sold quickly or to access cash for an expected life challenge. On the other hand, the “cash for your home” rehabbing business model has also led to what some housing advocates call predatory tactics. The level of integrity and customer service you experience can vary, even within an established house-buying company that strives to maintain consistent business standards. This is because many We Buy Houses for Cash companies are franchises and often use independent investors or local wholesaling outfits. Your experience greatly depends on the character of the person or group making the offer. If you are considering a cash offer, vet the company thoroughly. Check reviews, read testimonials, and research its presence and performance in the market. And, of course, read the buying agreement carefully before signing. Before committing to a We Buy Houses for Cash company, HomeLight suggests you consult with a top agent to get a better idea of what your home might be worth if sold on the open market. Then compare cash offers to what a top agent might be able to get for your home. HomeLight can connect you with a top-performing agent in your market. You can also use HomeLight’s free Home Value Estimator right now to get an initial ballpark estimate in less than two minutes. Within the cash-for-homes business you’ll also encounter a particular group of companies known as iBuyers, or instant buyers. iBuyer companies offer sellers many of the same conveniences of other house-buying operations, but they also leverage algorithmic technology, otherwise known as automated valuation models (or AVMs), to make you a near-instant offer on your home and provide a user-friendly, mostly online home sale experience. iBuyers have only been around since the mid-2010s, but are now widely available across Illinois. iBuyers offer all-cash and can close in a matter of days to a few weeks. But unlike more traditional We Buy Houses for Cash companies, iBuyers tend to look for homes in better condition and offer much closer to market value, typically in the 90% range — and sometimes more, particularly in a hot real estate market. Though one thing to note is that major iBuyers like Opendoor, Offerpad, and Redfin usually charge sizable fees for their services, between 5% and 13%. Sellers who may be a good fit to work with an iBuyer in Illinois include those who prefer to skip staging and showing their home, who live in an area with somewhat similar housing, and who have a home in relatively good shape. You want to sell your house quickly, not in 82 days. But hear us out! With many housing markets still being largely seller-friendly, many listings are flying off the market in a matter of days, especially those that are priced strategically. Going with an agent could pay off big time. Selling on the market generally fetches the highest home price, and that’s especially true if you work with a skilled professional. Our internal transaction data at HomeLight shows that the top 5% of real estate agents sell homes for up to 10% more than average agents. This is a big financial decision, so it may make sense to consult with a trusted real estate agent who can complete a comparative market analysis (CMA) to help you understand your home’s value and how quickly it’s likely to sell. Your agent may even be able to connect you with cash buyers who are willing to offer closer to market value for your home. Plus, a CMA is usually free and you’re under no obligation to list with the agent, so this may be a good tool to explore your options. Even if you end up deciding to work with a Cash-For-Homes company, at least you’ll know you’re making a sound financial decision. Overwhelmed by finding an agent? HomeLight would be happy to connect you with a top performer in your area today. Most We Buy Houses for Cash companies are legit, and you can rest assured that this business model has been around for decades. However, it’s always a good idea to keep an eye out for scams, or anything that just doesn’t seem right. Always thoroughly research companies ahead of time. Verify all professional licenses, check customer reviews, get a referral if possible, and vet the company on the Better Business Bureau website. Most Cash-For-Homes companies follow the 70% rule, meaning they’ll offer you 70% of your home’s after-repair value, minus repair costs. Here’s what that simple formula looks like: (Your home’s ARV x .70) – repair costs Now let’s take a look at a practical example. Let’s say your Illinois brick bungalow could sell for $350,000 after repairs, but it’s going to need $80,000 of work to get there. ($350,000 x .70) – $80,000 = $165,000 In this example, an Illinois cash-for-homes company will probably offer you around $165,000 for your property. However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more like 90%-95% of market value while charging a fee for their services. Selling a home to a We Buy Houses for Cash company shouldn’t cost you any money, though you’ll likely get less overall for your home. Since these companies are geared toward distressed homes, they tend to have zero fees, and will even cover your closing costs. That means the offer you get is the price you should walk away with. Make sure to ask about any hidden program fees that could eat into your bottom line. Wondering how a We Buy Houses for Cash company stacks up against working with a real estate agent? We’ve got you covered. Let’s say your traditional ranch home in Waukegan is currently worth about $200,000 and needs about $15,000 in repairs. Once the repairs are made, the home should be worth around $215,000. Obviously, financially it’s usually in your best interest to go with a top agent, but depending on the condition of your home and any repairs needed, selling on the open market could be challenging. House buying companies can be a good alternative for Illinois sellers in need of a quick exit from homeownership, but they’re not without drawbacks. However you choose to sell your home, it’s important to avoid making a hasty decision. For best results, take the time to weigh your options, gather offers from multiple companies, and consider consulting with a top agent to see how easily your property could sell on the market. Whatever you decide, HomeLight would be happy to help with your real estate needs!Working with house-buying companies in Illinois
Popular We Buy Houses for Cash companies in Illinois
Sell My House Fast Chicagoland
Simple Sale (a HomeLight platform)
I Buy IL
Windy City Solutions
We Buy Ugly Houses – HomeVestors
Why sell for cash in Illinois?
Pros and cons of house-buying companies in Illinois
Pros
Cons
Vet cash buyers and know your home’s worth
Other options to sell your home quickly
iBuyers
Listing with an agent
FAQs on Illinois house-buying companies
Are We Buy Houses for Cash companies legit or scams?
How much will We Buy Houses for Cash companies in Illinois pay?
How much does selling a home to a We Buy Houses for Cash company in Illinois cost?
How do you sell a house for cash in Illinois?
We Buy Houses for Cash in Illinois vs. top Illinois agent
Aspect of the sale
Sell to a We Buy Houses for Cash company in Illinois
Sell with a top Realtor in Illinois
Sale timeline
7 to 30 days
82 days average; 28 to attract an offer, 54 to close the loan
Home preparations
None
Make necessary repairs, deep clean, declutter, landscape, stage home
Showings
None
10 to 25 showings average
Inspections / repairs
None
May need to make repairs for the buyer or renegotiate price
Appraisal
None
May need to lower the price if appraisal comes in low
Title search
Cash-for-homes companies often handle title issues
Must clear title before you can sell home
Financing contingency
None
Mortgaged buyers use a financing contingency that could hold up the deal if the loan doesn’t clear
Agent commission
None
5.8% average
Closing costs
None
1% to 3% of sale price on top of commission
Example net proceeds
Sell to a We Buy Houses for Cash company in Illinois
Sell with a top Realtor in Illinois
Estimated sale price
($215,000 x .70) – $15,000 = $135,500
$200,000
Market preparations
0
$2,000 (1% of sale price)
Agent commissions
0
$11,600 (5.8% of sale price)
Closing costs
0
$3,000 (1.5%)
Estimated take-home for seller
$135,500
$183,400
Key takeaways
