5 Top We Buy Houses For Cash Companies in Illinois
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Melissa Holtje, Contributing AuthorClose
Melissa Holtje Contributing AuthorMelissa enjoys using her experience as a house flipper, investment buyer, and waterfront home owner to help buyers and sellers thrive in the housing market. When not scouting real estate, you’ll most likely find her at the beach.
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Taryn Tacher, Senior EditorClose
Taryn Tacher Senior EditorTaryn Tacher is the senior editorial operations manager and senior editor for HomeLight's Resource Centers. With eight years of editorial and operations experience, she previously managed editorial operations at Contently and content partnerships at Conde Nast. Taryn holds a bachelor's from the University of Florida College of Journalism, and she's written for GQ, Teen Vogue, Glamour, Allure, and Variety.
For many homeowners in Illinois, selling a property quickly isn’t always by choice. Sometimes, life just demands it. Whether it’s a divorce, a looming foreclosure, or an urgent financial situation, there are plenty of reasons why people need to sell fast. In these scenarios, it’s worth considering instant cash offers from ‘We Buy Houses’ Illinois companies.
Working with a We Buy Houses company lets homeowners skip all the usual headaches of selling a home, like endless showings and drawn-out negotiations. You can sell as-is without worrying about repairs or staging. It’s a fast, easy way to get cash and move on with life.
Compare a Cash Offer With a Top Illinois Agent Estimate
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform in 24 hours and close in as few as 7 days. No showings or repairs. You’ll also receive an expert estimate of what your home might sell for using a top-rated Illinois agent.
Before you request a cash offer from a house-buying company, it’s important to understand how much they might offer for your home so you can weigh your options. Once you’re familiar with the process, you can choose a company on our list of top contenders and get moving.
Working with house-buying companies in Illinois
Companies promoting “We Buy Houses 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 of selling a house for cash generally works:
- You request an offer and provide the company with some information about your home. Some companies may make a preliminary offer at this stage, but it’s usually subject to change once they’ve inspected your property.
- The company performs a walk-through. This on-site property visit is typically completed within 24 to 48 hours, but the timeframe may vary depending on the company and market.
- You receive a firm offer. You get your official cash offer typically within 24 hours of the on-site visit, but the company may likewise present it at the end of the walk-through. At this point, you can accept or decline the offer. The majority of house-buying companies do not negotiate. They usually present a take-it-or-leave-it sale price.
- If you accept the offer, you’ll both sign a contract. Some companies offer a large deposit or moving cost assistance, and a few may even pay for the home upfront.
- You proceed to closing and get paid quickly, typically within seven days to a few weeks. The exact duration depends on the company you’re working with. However, most firms allow sellers to enjoy the flexibility in selecting a move-out date that works for them.
Popular We Buy Houses for Cash companies in Illinois
If the process of selling to a house-buying company in Illinois sounds 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 parents’ property, whether that’s a traditional two-story home in Springfield or your off-campus ranch in Champaign-Urbana. By working with one of these companies, you should be able to sell your Illinois home in as little as a week or two.
Sell My House Fast Chicagoland
Sell My House Fast Chicagoland is a team of reliable real estate professionals who specialize in taking care of burdensome properties. It prides itself on 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 let the team inspect the property. 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.
Locations: Throughout Illinois, mainly around Chicago
Closing costs: Sellers pay no closing costs; Sell My House Fast Chicagoland covers them.
Sell My House Fast Chicagoland has been accredited by the Better Business Bureau (BBB) since 2022 with an A+ grade. Its 5-star BBB rating attests to the staff’s professional customer service and readiness to help Illinois homeowners. Many sellers appreciated 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. In the same way, the firm received positive testimonials on its Google Business Profile, generating a 4.8-star rating.
Website: sellmyhousefastchicagoland.com
Phone: 312-869-2289
Simple Sale (a HomeLight platform)
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. It has a vast 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 this, you can get an all-cash offer within 24 hours and sell your home in as little as 7 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Illinois
Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a platform by HomeLight, a real estate solutions company founded in 2012. Given its strong focus on excellent customer service, it has been BBB accredited since 2019 and maintains an impressive A+ rating. The company has 4.8 stars on Google based on hundreds of 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:homelight.com/simple
Phone: 844-488-8455
Olson Home Buyers
Olson Home Buyers makes home sales simple and stress-free, allowing homeowners to skip the hassle of repairs, cleaning, and lengthy selling processes. Its streamlined approach involves three easy steps: filling out an online form, scheduling a walkthrough, and selecting a closing date.
With its efficient process, sellers can receive a cash offer within 24 hours of submitting property information. Moreover, they can choose their closing date and move forward at their pace without the usual headaches of traditional real estate transactions.
Locations: Chicago and surrounding areas
Closing costs: Sellers pay no closing costs; Olson Home Buyers covers them.
Accredited by the BBB since 2022, Olson Home Buyers earned an A+ rating from the bureau. Its Google Business Profile has 5 out of 5 stars, as it received plenty of positive client feedback. Customers particularly appreciate the company’s ability to handle sales quickly, especially when they need to sell from out of state without delays.
Many have noted their professionalism, highlighting their knowledge and responsiveness throughout the process. Others praised the staff for being honest and considerate and offering a straightforward approach that eliminates unnecessary stress.
Website: olsonhomebuyers.com
Phone: 312-210-0115
Windy City Homebuyer
Since 1960, Windy City Homebuyer has been making home sales quick and hassle-free. It takes a no-pressure approach, allowing sellers to explore their options without feeling rushed or obligated. Homeowners can receive a fair cash offer within 24 hours, with no need for appraisals or inspections.
If speed is a priority, the company can close in as little as seven days, providing a fast and stress-free solution. Whether a homeowner needs to sell quickly or just wants a simple transaction, this company offers a smooth and reliable experience.
Locations: Throughout Illinois
Closing costs: Sellers pay no closing costs; Windy City Homebuyer covers them.
Windy City Homebuyer, accredited by the BBB since 2022, has earned a high A+ rating from the bureau. It enjoys a 5-star rating on Google with clients commending the company’s ability to deliver a smooth and efficient selling experience. Many emphasized how quickly the process moves, with transactions often closing in just a few weeks.
Throughout the sale, the team keeps sellers informed, ensuring they always know what to expect at each stage. Homeowners also value the fairness of the cash offers, making them feel confident in their decision to sell.
Website: windycityhomebuyer.com
Phone: 773-796-2233
We Buy Ugly Houses – HomeVestors
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 their online form, HomeVestors will send a representative to inspect the property and extend an offer. Once an offer is in place, closing can happen in as little as three weeks.
Though that timeline may be slightly longer than other local house-buying companies, the nationwide backing may allow HomeVestors to take on deals that other cash-offer businesses can’t 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 those with distressed properties.
Locations: Nationwide, including Illinois
Closing costs: Sellers pay no closing costs; We Buy Ugly Houses covers them.
HomeVestors has been accredited by the BBB since 2013 and holds an A+ BBB rating. Its Google Business Profile has a high rating of 4.7 stars, with reviewers describing the selling process as fair, fast, and hassle-free, with every detail handled smoothly from start to finish.
Many appreciate the responsiveness and professionalism of the team, noting that questions were answered promptly and communication was always clear. Sellers highlight how easy and stress-free the transaction felt compared to traditional sales.
Website: webuyuglyhouses.com
Phone: 877-959-0602
Why sell for cash in Illinois?
If you’ve ever sold your home through the traditional real estate market, you know the process can drag on for months, and there’s no guarantee of a sale. But when you sell to a We Buy Houses company, you’re looking at a guaranteed sale in just a matter of days. Speed, convenience, and certainty are the top reasons many homeowners choose to work with a cash-for-homes firm.
In Illinois, selling on the open market with an agent takes around 69 days. That includes 28 days on the market, from listing to signed contract, plus the typical 41 days a buyer needs to close on a purchase loan.
Compare that to the usual 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.
- Extensive property problems: The home has major repair issues common in Illinois, such as wind damage, lake-effect temperature swing problems, and typical snow-related issues. Aside from delaying the home sale, these problems cost a lot to fix, and homeowners may not be able to afford to make repairs.
- Urgent life changes: The seller needs to move or cash in quickly due to divorce, job relocation, medical need, or financial stress.
- Lengthy home sale: The seller doesn’t want to bother prepping the home, dealing with showings, negotiating, or navigating a long sales process.
- Discreet transaction: If privacy is a top priority, you’re probably asking, “How do I sell my house on my own in Illinois?” Selling off-market to a cash buyer could be the right move to keep things low-key and hassle-free.
- Foreclosure fix: The seller is facing foreclosure and wants to sell the home and settle their debts with the lender before it’s too late.
- Unwanted inheritance: The seller inherited a property and wants to unload it as quickly as possible.
- Landlord fatigue: The seller is a landlord who no longer wishes to manage a rental or has problem tenants.
- Downsizing transition: The aging homeowner decided to downsize and move into a care facility, prompting their family to sell the home.
- Remote home sale: The homeowner is planning to sell from out of state and prefers the ease of a cash sale that removes the need to travel back and forth.
If any of these sounds like you, getting 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).
Pros and cons of house-buying companies in Illinois
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 might be concerned that you’re losing out on a great home sale deal. Let’s walk through a few pros and cons to consider while weighing your options.
Pros to We Buy Houses for Cash in Illinois
Is it worth it to sell a house for cash in the Prairie State? 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. They buy homes in any condition.
Here’s a summary of pros to consider:
- Fast transaction: If your mantra is “sell my house fast,” Illinois investors and flippers can close in as little as seven days.
- Guaranteed sale: Since the company does a pre-offer walk-through, their offer is firm and comes with few (if any) contingencies. Cash-for-house companies are experts at clearing roadblocks and closing deals.
- No repairs: Again, if your home is in rough shape and you don’t have the funds or the patience to make repairs, you can skip them altogether and save yourself the stress.
- Less hassle: You don’t have to deal with staging, open houses, multiple offers, negotiations with picky buyers, low appraisal, or the risk of the buyer’s financing falling through. Overall, reputable We Buy Houses for Cash companies in Illinois offer a smooth ride from offer to close.
That all may sound 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.
Cons to We Buy Houses for Cash in Illinois
When considering an offer from a We Buy Houses firm, 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:
- Lower offers: Most companies pay below market value, so you might walk away with a lower profit compared to selling on the open market.
- Inconsistent market knowledge: Not all cash home-buying companies are equal. Some are more localized, have specific neighborhood knowledge, and are able to leverage that expertise into more competitive offers. Others are less knowledgeable about the specifics of your community, which could result in lowball bids.
- Pressure tactics: Some companies try to take advantage of homeowners in urgent situations with high-pressure tactics, but you should never feel forced to accept an offer. If a company makes you uncomfortable, there are plenty of other We Buy Houses for Cash options in Illinois to consider.
- Scam risks: Not all house-buying companies are trustworthy, as some may run house-buying scams. It’s important to research and verify any company before agreeing to a sale to avoid falling victim to fraudulent schemes.
Vet cash buyers and know your home’s worth
Before committing to a cash offer, it’s crucial to vet the company thoroughly. The level of service and integrity you experience from a house-buying company can vary, so make sure to:
- Research market presence: Investigate how long the company has been buying homes in your area and how they’ve performed in the market.
- Check reviews: Look for online reviews and ratings to see what other sellers have said about their experience with the company.
- Ask for referrals: Go beyond reviews and ask actual clients to get a better sense of the company’s reputation and trustworthiness.
- Examine the agreement: Before signing anything, read the buying agreement carefully to ensure you fully understand the terms and conditions of the sale.
HomeLight suggests you consult with an experienced local agent to get a better idea of what your home might be worth if sold on the open market. Then, compare your cash offer.
HomeLight can connect you with a top-performing agent in Illinois. You can also use our free Home Value Estimator to get an initial ballpark estimate in less than two minutes.
Curious What Your Home Is Worth?
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.
Other options to sell your home quickly
Working with iBuyers
When you partner with companies advertising ‘We Buy Houses Illinois’ online, you’ll encounter a particular group of companies known as instant buyers or iBuyers. These groups 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 a near-instant offer on homes and provide a user-friendly, mostly online sale experience.
iBuyers close transactions in a matter of days to a few weeks. But unlike more traditional We Buy Houses for Cash companies, they tend to look for homes in better condition and offer much closer to market value, typically in the 85% to 95% range.
One thing to note is that major iBuyer companies like Opendoor and Offerpad usually charge sizable fees for their services, between 5% and 6% of the home’s sale price. 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, live in an area with somewhat similar housing, and have a home in relatively good shape.
Listing with an agent
With the help of an expert agent, many listings can sell fast, especially when 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. HomeLight data 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. The CMA is usually provided at no cost.
Your agent may also be able to connect you with cash buyers who are willing to offer closer to market value for your home. If you’re unsure how to pick the right agent, HomeLight can match you with a top performer in your area today.
FAQs on Illinois house-buying companies
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 BBB website.
Most Cash-For-Homes companies follow the 70% rule, meaning they’ll offer you 70% of your home’s after-repair value (ARV), then deduct 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 Schaumburg Colonial Revival home could sell for $340,000 after repairs, but it’s going to need $30,000 of work to get there.
($340,000 x .70) – $30,000 = $208,000
In this example, an Illinois cash-for-homes company will probably offer you around $208,000 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 85% to 95% of the 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. But make sure to ask if any hidden program fees could eat into your bottom line.
- Research and vet house-buying companies available in your Illinois area. The above list is a great place to start.
- Submit offer requests to your top companies.
- Schedule any on-site visits.
- Field and compare offers, looking at the pros and cons of each option.
- Close in a week to 30 days and get paid. Or, choose a later closing date, up to 90 days after receiving the offer.
With an all-cash offer from a ‘We Buy Houses’ company, you can often close in as little as a week or two, depending on your situation. This is much faster than a traditional sale, which can take months with showings, inspections, and mortgage approvals. It’s an ideal option for homeowners who need to sell quickly and move on.
Cash buyers base their offers on the home’s condition, local market, and their expected profit margins, so the offer may be lower than a traditional listing price. While you might not get full market value, you save on repairs, fees, and the long wait of a conventional sale. For many homeowners, the convenience, speed, and certainty of a cash sale outweigh the slightly reduced price.
We Buy Houses for Cash in Illinois vs. top Illinois agent
Wondering how a We Buy Houses for Cash company stacks up against working with a real estate agent? We’ve got you covered.
| 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 | 69 days average; 28 to attract an offer, 41 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary fixes, landscape, and stage the home |
| Showings | None | 10 to 25 showings on average |
| Inspections and repairs | None | May need to make repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower the price if the appraisal comes in low |
| Title search | Cash-for-homes companies often handle title issues | Must clear the title before you can sell the 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 | 3% to 6% of the home’s sale price |
| Closing costs | None | 1% to 3% of the home’s sale price on top of the agent’s commission |
Example net proceeds
Let’s say your Colonial Revival home in Schaumburg is currently worth about $310,000 and needs about $30,000 in repairs. Once the repairs are made, the home should be worth around $340,000.
| Sell to a We Buy Houses for Cash company in Illinois | Sell with a top Realtor® in Illinois | |
| Estimated sale price | ($340,000 x .70) – $30,000 = $208,000 | $310,000 |
| Market preparations | 0 | $3,100 (1% of the sale price) |
| Agent commissions | 0 | $9,300 (3% of the sale price) |
| Closing costs | 0 | $4,650 (1.5% of the sale price) |
| Estimated take-home for seller | $208,000 | $292,950 |
Based on the computation above, it’s in your best financial interest to go with a top agent, but it’s still important to consider the condition of your home and any repairs needed. In some cases, selling on the open market could be challenging.
Key takeaways
- Fast transaction: We Buy Houses for Cash companies in Illinois help you sell your home in as few as seven days with no repairs, showings, or hassles.
- Due diligence: There are many reputable cash home-buying companies across Illinois, but it’s important to vet each potential partner carefully to ensure they align with your selling objectives and needs.
- Quick sale alternatives: You could leave significant money on the table using a Cash-For-Homes company versus going with a top agent or iBuyer.
- Legitimate cash buyers: HomeLight’s Simple Sale platform provides no-obligation, all-cash offers for homes in almost any condition in Illinois. Because the platform has partner investors with different buying parameters across the state, it can be a great starting point if you aren’t sure who would buy your home.
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.
Writer Chelsea Levinson contributed to this post.
Editor’s note: This post is for educational purposes only. Links to and mentions of Illinois area “We Buy Houses” companies are not endorsements. Moreover, the program details mentioned above may change. Visit the home-buying company’s website for the most up-to-date information.
Header Image Source: (Zander Betterton / Unsplash)
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