Sale price is not proceeds. This works out your closing costs, your depreciation recapture, your capital gains and your Illinois tax — and shows you the number that lands in your account. Free, nothing saved, no signup.
The property
What you are selling, and what you have in it.
Do not know it? Estimate it from years owned → Your accountant has the exact figure on your depreciation schedule.
Costs of sale
Defaults are typical Lake County commercial figures. Change anything.
Illinois state and county transfer tax of $1.50 per $1,000 is always included. Pick your town and the municipal transfer tax is added only if the ordinance puts it on the seller — in some towns the buyer pays it.
Pick the town the property is actually in — the transfer tax follows the town line, not the mailing address. Town rates checked September 2026.
Credits to the buyer
Optional estimates. Your contract and the title company set the real figures.
Illinois property tax is billed a year late, so the seller usually credits the buyer for this year’s tax from January 1 to closing, figured from the last full-year bill. Lake County’s bill comes in two installments, due in early June and early September. In Cook County the first installment (55% of the prior year’s total) is due in the spring and the second on a date that moves each year (October 1 in 2026).
Tenant security deposits you hold, and rent already paid for days after closing, are credited to the buyer. Credits change your cash at closing, not your taxable gain.
Your tax picture
Estimates only. Your accountant has the last word.
Wages, business and rental income. The federal figure uses the 2026 brackets (IRS Rev. Proc. 2025-32), treats this as ordinary income and takes the 2026 standard deduction: $32,200 joint, $24,150 head of household, $16,100 single or separate.
How this is worked out. Gain is the sale price less costs of sale, less your adjusted basis (what you paid, plus improvements, minus depreciation taken). The part of the gain equal to your depreciation is unrecaptured Section 1250 gain, taxed federally at your ordinary rates but never above 25%. The rest is long-term capital gain, taxed at 0%, 15% or 20% depending on where it lands on top of your other income. Federal tax uses the 2026 brackets and standard deduction (IRS Rev. Proc. 2025-32), treats your other income as ordinary income, and shows only the extra tax this sale adds. The 3.8% Net Investment Income Tax applies on top of that, but only on the smaller of the gain and the amount your income clears the threshold. Illinois taxes the whole gain at its flat 4.95% whether or not you live in Illinois, because the property is here. A C corporation is modelled differently — Illinois 9.5% and federal 21%, no individual rates, and a second tax when the money leaves the company. Property held one year or less has no long-term treatment at all — the entire gain is ordinary income, taxed at your 2026 ordinary brackets. Credits to the buyer (property tax, deposits, prepaid rent) change your cash at closing, not your taxable gain. Town transfer taxes checked September 2026.
This is an estimate, not tax advice. It does not handle suspended passive losses, installment sales, partial 1031s with boot, gifted or inherited basis, cost segregation with Section 1245 property, alternative minimum tax, itemized deductions, or state tax in any state but Illinois. Bring the number to your CPA before you decide anything — the point of this tool is to make sure you ask them the right question early, not to answer it for them.
The gap between a good sale and an average one is not the price.
It is the six months before it lists. Lease timing, estoppels, an environmental on file, and a 1031 planned before you sign rather than after. That part is a conversation.