{"id":76,"date":"2026-09-15T09:00:00","date_gmt":"2026-09-15T15:00:00","guid":{"rendered":"https:\/\/simplyclosed.com\/blog\/?p=76"},"modified":"2026-10-29T15:08:39","modified_gmt":"2026-10-29T21:08:39","slug":"transaction-coordinator-cost-illinois","status":"publish","type":"post","link":"https:\/\/simplyclosed.com\/blog\/transaction-coordinator-cost-illinois\/","title":{"rendered":"Transaction Coordinator Cost in Illinois: 2026 Rates and Attorney Review Deadlines"},"content":{"rendered":"<p>The <strong>transaction coordinator cost in Illinois<\/strong> tracks the national market. Most coordinators charge $300 to $800 per file, and a standard residential file usually falls between $350 and $550. Our contract-to-close coordination starts at $500 per transaction side, paid at closing through title or escrow, and there&#8217;s no coordination fee if the file doesn&#8217;t close.<\/p>\n<p><strong>Quick answer:<\/strong> Budget $350 to $550 for a typical Illinois purchase file. We start at $500 per side for contract to close, $350 for listing coordination and $900 for dual agency. You pay at closing through title or escrow. Most of the work sits in the first ten Business Days, when the attorney review and inspection windows run side by side.<\/p>\n<h2>What makes an Illinois file more or less work?<\/h2>\n<p>Chicago-area deals are usually written on the Multi-Board Residential Real Estate Contract 8.0, which Chicago REALTORS made available on February 1, 2025, as listed on its <a href=\"https:\/\/chicagorealtor.com\/new-upcoming-forms-contracts-for-2025\/\" target=\"_blank\" rel=\"noopener\">2025 forms and contracts page<\/a>. Some downstate boards use their own forms, so we confirm which contract we&#8217;re holding before we build a calendar.<\/p>\n<p>Multi-Board counts almost everything in Business Days. Paragraph 25 defines them as Monday through Friday, excluding federal holidays, so Illinois-only holidays are ordinary working days. Only two dates roll to the next Business Day when they land on a day off: Closing and the Financing Contingency Date.<\/p>\n<p>The front end is crowded, and every one of these runs from the Date of Acceptance:<\/p>\n<ul>\n<li>The attorneys have 5 Business Days to approve, disapprove or propose modifications under paragraph 13. If there&#8217;s still no written agreement after 10 Business Days, either side can terminate by Notice.<\/li>\n<li>The buyer&#8217;s inspection notice is due within the same 5 Business Days under paragraph 15, or 10 calendar days for a lead-based paint inspection.<\/li>\n<li>Evidence of homeowner&#8217;s insurability is due within 10 Business Days under paragraph 9. Miss it and the contingency is waived.<\/li>\n<li>The Financing Contingency Date is the earlier of 45 days after acceptance or 5 Business Days before closing under paragraph 8. If the buyer hasn&#8217;t applied for financing within 10 Business Days, the seller gets a window to terminate.<\/li>\n<\/ul>\n<p>Notice timing trips people up. Under paragraph 28, an email or fax Notice sent outside Business Hours, 8 a.m. to 6 p.m. Chicago time, takes effect in the first hour of the next Business Day. A modification letter sent at 9 p.m. on day five can land outside the review window.<\/p>\n<p>The form also assumes lawyers on both sides, since paragraph 13 gives the review to &#8220;the attorneys for the respective Parties.&#8221; That means two law offices on our contact sheet along with the lender and title.<\/p>\n<p>The Residential Real Property Disclosure Act expects the seller&#8217;s disclosure report before the contract is signed. If it reaches the buyer afterward and discloses a material defect, the buyer has 5 business days after receipt to terminate under <a href=\"https:\/\/www.ilga.gov\/legislation\/ilcs\/fulltext.asp?DocName=076500770K40\" target=\"_blank\" rel=\"noopener\">765 ILCS 77\/40<\/a>. We check that the report is in the file at acceptance.<\/p>\n<p>Condos and Chicago addresses add their own paperwork. A condo association must furnish the section 22.1 resale disclosures within 30 days of a written request under 765 ILCS 605\/22.1. In Chicago, the city&#8217;s Full Payment Certificate application is required for every property transfer, at $50 per account, and a closing based on a final meter reading has to happen within 60 days of the earlier of the reading date or the authorization date. We order that early.<\/p>\n<h2>How do Multi-Board deadlines fall on a Thanksgiving-week contract?<\/h2>\n<p>Say the Date of Acceptance is Tuesday, November 24, 2026, and the written closing date is Wednesday, January 13, 2027. Counting starts the next Business Day. Thanksgiving on November 26 is a federal holiday, so it&#8217;s skipped. The Friday after is not, so it counts.<\/p>\n<table>\n<thead>\n<tr>\n<th>Deadline<\/th>\n<th>Rule<\/th>\n<th>Date<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Attorney review ends<\/td>\n<td>5 Business Days<\/td>\n<td>Wed, Dec 2, 2026<\/td>\n<\/tr>\n<tr>\n<td>Inspection notice due<\/td>\n<td>5 Business Days<\/td>\n<td>Wed, Dec 2, 2026<\/td>\n<\/tr>\n<tr>\n<td>Insurability evidence and loan application<\/td>\n<td>10 Business Days<\/td>\n<td>Wed, Dec 9, 2026<\/td>\n<\/tr>\n<tr>\n<td>Financing Contingency Date<\/td>\n<td>Earlier of 45 days (Fri, Jan 8) or 5 Business Days before closing (Wed, Jan 6)<\/td>\n<td>Wed, Jan 6, 2027<\/td>\n<\/tr>\n<tr>\n<td>Closing<\/td>\n<td>Date written in the contract<\/td>\n<td>Wed, Jan 13, 2027<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The financing row is the one to watch. An agent who remembers &#8220;45 days&#8221; would calendar January 8, but the 5 Business Day test against a January 13 closing pulls it two days earlier. If the closing date moves by amendment, we recount that row the same day.<\/p>\n<p>The executed contract controls, so confirm every date with the agent, broker or attorney on the file.<\/p>\n<h2>When is an Illinois coordinator worth paying for?<\/h2>\n<p>If you do a handful of deals a year and you&#8217;re comfortable tracking review letters and the financing date yourself, you may not need one. Paying $500 a side for work you already do well isn&#8217;t money well spent.<\/p>\n<p>A coordinator earns the fee once files stack up, or when one file has a lot going on, like a Chicago condo with the 22.1 package outstanding and modification letters still going back and forth. An in-house hire runs roughly $45,000 to $75,000 in salary, closer to $70,000 fully loaded, and that only makes sense with steady weekly volume.<\/p>\n<p>Pre-listing to close starts at $800 per property, and a compliance-only review starts at $350. See our <a href=\"https:\/\/simplyclosed.com\/pricing\/\">pricing page<\/a> for the full list, our <a href=\"https:\/\/simplyclosed.com\/resources\/transaction-coordinator-cost\/\">transaction coordinator cost guide<\/a> for how the national numbers break down, and our <a href=\"https:\/\/simplyclosed.com\/transaction-coordinator\/illinois\/\">Illinois transaction coordinator page<\/a> for how we run Illinois files.<\/p>\n<h2>Frequently asked questions<\/h2>\n<h3>Does attorney review in Illinois count weekends?<\/h3>\n<p>No. Multi-Board 8.0 gives the attorneys 5 Business Days after the Date of Acceptance, and Business Days run Monday through Friday, excluding federal holidays. A contract accepted on a Friday has attorney review ending the following Friday if no federal holiday falls in between. Illinois-only holidays such as Lincoln&#8217;s Birthday still count as Business Days under the form.<\/p>\n<h3>How much does a transaction coordinator cost for an Illinois condo?<\/h3>\n<p>Our contract-to-close rate starts at $500 per side. Condo files add paperwork. The association has 30 days after a written request to furnish the section 22.1 resale disclosures, and Multi-Board gives the buyer 5 Business Days after receiving association documents to review them. Those dates sit on the calendar next to attorney review and financing, so send the file early.<\/p>\n<h3>Do Illinois contract deadlines move when they land on a weekend?<\/h3>\n<p>Under Multi-Board 8.0, only the Closing date and the Financing Contingency Date move to the next Business Day. Periods counted in Business Days can&#8217;t end on a weekend anyway. Calendar-day periods, like the 10-day window for a lead-based paint inspection, don&#8217;t roll, so a deadline that falls on a Sunday stays on that Sunday.<\/p>\n<h3>When do I pay, and what if the Illinois deal falls apart?<\/h3>\n<p>We are paid at closing through title or escrow, out of the closing funds. If a contract-to-close file doesn&#8217;t close, you don&#8217;t owe a coordination fee. We don&#8217;t take a retainer, and we don&#8217;t charge per seat or set a monthly minimum, so a slow quarter costs you nothing on our side of the ledger.<\/p>\n<p>Want to see your own dates? Plug your acceptance and closing dates into the <a href=\"https:\/\/simplyclosed.com\/tools\/closing-deadline-calculator\/illinois\/\">Illinois closing deadline calculator<\/a>, or <a href=\"https:\/\/launchpad.rebillion.ai\/BookLisa.html\" target=\"_blank\" rel=\"noopener\">book a call with Lisa<\/a> before your next contract.<\/p>\n<p><script type=\"application\/ld+json\">\n{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Does attorney review in Illinois count weekends?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. Multi-Board 8.0 gives the attorneys 5 Business Days after the Date of Acceptance, and Business Days run Monday through Friday, excluding federal holidays. A contract accepted on a Friday has attorney review ending the following Friday if no federal holiday falls in between. 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Our&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-76","post","type-post","status-publish","format-standard","hentry","category-guides"],"_links":{"self":[{"href":"https:\/\/simplyclosed.com\/blog\/wp-json\/wp\/v2\/posts\/76","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/simplyclosed.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/simplyclosed.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/simplyclosed.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/simplyclosed.com\/blog\/wp-json\/wp\/v2\/comments?post=76"}],"version-history":[{"count":3,"href":"https:\/\/simplyclosed.com\/blog\/wp-json\/wp\/v2\/posts\/76\/revisions"}],"predecessor-version":[{"id":356,"href":"https:\/\/simplyclosed.com\/blog\/wp-json\/wp\/v2\/posts\/76\/revisions\/356"}],"wp:attachment":[{"href":"https:\/\/simplyclosed.com\/blog\/wp-json\/wp\/v2\/media?parent=76"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/simplyclosed.com\/blog\/wp-json\/wp\/v2\/categories?post=76"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/simplyclosed.com\/blog\/wp-json\/wp\/v2\/tags?post=76"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}