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 and consider instant cash offers from ‘We Buy Houses’ Illinois companies.
Maybe you’ve landed a new career position that’s going to whisk you out of Chicago right away. 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.
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 10 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.
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 top contenders and get moving.
Working with house-buying companies in Illinois
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 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. Your official cash offer is typically received within 24 hours of the on-site visit, but can sometimes be presented 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 parent’s property, whether that’s a 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.
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 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.
Locations: Throughout Illinois, mainly around Chicago
Closing costs: No closing costs for sellers.
Sell My House Fast Chicagoland has been accredited by the Better Business Bureau (BBB) since 2022 with an A+ rating. Its 5.0-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 an impressive 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 10 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 technology company founded in 2012. It is BBB accredited with an A+ rating and 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. It specializes in fast purchases, 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 move forward quickly without the usual headaches of traditional real estate transactions. The company’s goal is to provide convenience and peace of mind with every sale.
Locations: Chicago and surrounding areas
Closing costs: No closing costs for sellers.
Olson Home Buyers has been BBB-accredited since 2022 and has earned an A+ rating. Its Google Business Profile earned a 5.0-star rating, 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
With over 60 years of experience, Windy City Homebuyer has built a reputation for 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: Chicago and surrounding areas
Closing costs: Sellers pay no closing costs.
Windy City Homebuyer, BBB-accredited since 2022, has earned a high A+ rating from the bureau. Moreover, it enjoys a 5.0-star rating on Google. Clients commend 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 before making 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 most zip codes in Illinois
Closing costs: Sellers pay no closing costs.
HomeVestors touts an A+ BBB rating, but each branch has a different accreditation record. Its Google Business Profile has a high rating of 4.7 stars, with reviewers commending the Illinois franchises, saying that they were pleasantly surprised by the offers they received.
Website: webuyuglyhouses.com
Phone: 877-959-0602
Why sell for cash in Illinois?
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, selling on the open market with an agent typically takes around 78 days. That includes 36 days on the market, from listing to signed contract, plus the typical 42 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.
- 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 might not have the means 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 sell it as quickly as possible.
- Landlord fatigue: The seller is a landlord who has problem tenants or no longer wishes to manage a rental property.
- 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 seller is living out of state and prefers the ease of a cash sale.
If any of these sounds like you, requesting an instant home 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.
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:
- 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 follow the 70% rule, meaning they’ll offer you 70% of your home’s after-repair value (or the value that your house could sell for on the market once it’s all fixed up) and then deduct the repair costs. So the price you get for your home may be appreciably lower than what you’d get on the 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.
- Untrustworthy companies: Some firms make extremely low offers to desperate homeowners. A few bad players may even engage in scams, though it’s uncommon.
- Pressure tactics: These companies know that homeowners looking to sell quickly are often in dire situations, and some do take advantage of that by using pressure tactics. You should never feel forced to accept an offer, especially since there are plenty of We Buy Houses for Cash companies in Illinois to choose from. If anyone makes you uncomfortable, it’s time to move on to another option.
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 don’t take into account all possible selling approaches.
Always do your research, compare your options, and consult with a trusted advisor before accepting any offer.
Vet cash buyers and know your home’s worth
For many home sellers, We Buy Houses for Cash companies can be a solid solution to selling a property quickly or accessing 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. Of course, read the buying agreement carefully before signing.
Get a home value estimate
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.
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.
HomeLight can connect you with a top-performing agent in Illinois. Try our free Home Value Estimator right now to get an initial ballpark estimate in less than 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.
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. They 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, 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 iBuyers like Opendoor and Offerpad usually charge sizable fees for their services, between 5% and 6%.
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
You want to sell your house quickly, not in 78 days. But hear us out! With the help of an expert agent, many listings can sell fast, especially when you price it 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 are making a sound financial decision.
Unsure how to pick the right agent for you? HomeLight would be happy to connect 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, 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 $308,000 after repairs, but it’s going to need $30,000 of work to get there.
($308,000 x .70) – $30,000 = $185,600
In this example, an Illinois cash-for-homes company will probably offer you around $185,600 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 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.
- Research and vet house-buying companies available in your area. The above list is a great place to start.
- Submit offer requests to your top few 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.
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 | 78 days average; 36 to attract an offer, 42 to close the loan |
| Home preparations | None | Make necessary repairs, deep clean, declutter, landscape, stage home |
| Showings | None | 10 to 25 showings on average |
| Inspections / 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 commission |
Example net proceeds
Let’s say your traditional ranch home in Waukegan is currently worth about $293,000 and needs about $15,000 in repairs. Once the repairs are made, the home should be worth around $308,000.
| Sell to a We Buy Houses for Cash company in Illinois | Sell with a top Realtor® in Illinois | |
| Estimated sale price | ($308,000 x .70) – $15,000 = $200,600 | $293,000 |
| Market preparations | 0 | $2,930 (1% of the sale price) |
| Agent commissions | 0 | $8,790 (3% of the sale price) |
| Closing costs | 0 | $4,395 (1.5% of the sale price) |
| Estimated take-home for seller | $200,600 | $276,885 |
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
- 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.
- 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.
- You could leave significant money on the table using a Cash-For-Homes company versus going with a top agent or iBuyer.
- 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. Additionally, program details may change frequently. Visit the home-buying company’s website for the most up-to-date information on each individual program.
Header Image Source: (Zander Betterton / Unsplash)
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