Illinois · as of September 2026
What counts as luxury real estate in Illinois
The convention this site uses
In Illinois, this site treats homes at $1M and above as luxury. That is our own fixed band, set so the covered markets are the ones where the top of the market actually trades at that level. It is not a loan limit and it is not a median; the medians below are the middle of each market, and luxury inventory trades well above them. The rule and its reasoning are on the methodology page.
Illinois's luxury markets by home value
Zillow Home Value Index, typical middle-tier home, latest month.
| Market | Median value | Ranked agents |
|---|---|---|
| Kenilworth | $2,142,000 | 10 |
| Winnetka | $1,940,000 | 10 |
| Glencoe | $1,682,000 | 10 |
| Hinsdale | $1,298,000 | 10 |
| Lake Forest | $1,248,000 | 10 |
| Barrington Hills | $1,091,000 | 10 |
| Wilmette | $1,014,000 | 10 |
| Oak Brook | $991,000 | 10 |
| Naperville | $485,000 | 10 |
| Evanston | $440,000 | 10 |
| Chicago | $335,000 | 10 |
What changes at this price in Illinois
Each fact links to the statute or agency that says so. Facts we could not verify against an official source are left out rather than guessed.
- Transfer and mansion taxes
- Illinois charges a state transfer tax of $0.50 per $500 of price plus a county tax of $0.25 per $500, together 0.15 percent. Chicago adds a city transfer tax of 0.75 percent paid by the buyer and a 0.375 percent CTA portion paid by the seller, so a Chicago sale carries 1.275 percent in total. Source
- Agency and dual agency
- Illinois permits dual agency only with the written consent of both clients on the statutory disclosure form. The default relationship is designated agency, under which the sponsoring broker designates specific licensees to represent each client. Source
- Seller disclosure
- Illinois sellers of residential property must complete the statutory Residential Real Property Disclosure Report before the buyer signs a contract. Source
- State estate or inheritance tax
- Illinois levies its own estate tax on estates above a $4 million exemption, with graduated rates that reach 16 percent, and the exemption is not portable between spouses. Source