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The Gimbel Group. You are the priority.

Questions we get asked most

13 answers on property taxes, the ten towns we cover, Illinois closing mechanics, and how we work. Every figure carries its source, and anything that depends on a specific address gets confirmed for that address before you act on it.

Property taxes

Rates, bills, exemptions, appeals, and the arrears system nobody warns you about.

Why are property taxes so high in Illinois and around the North Shore?
Illinois has some of the highest effective property tax rates in the country because local schools, park districts, libraries, and municipalities are funded largely by property taxes rather than by the state. Effective rates across the ten towns we cover run from roughly 1.5 to 2.9 percent of market value for an owner-occupant, and individual addresses land outside that band on both ends. What sets a town's rate is the size of the levies relative to the taxable value available to spread them across, so strong schools and a high rate do not track each other reliably here: Lake Forest carries one of the lowest rates on our list and Wauconda one of the highest. Our Cook County figures are tax year 2024 and our Lake and DuPage figures are tax year 2025, which is as current as each county has certified. We pull the actual number for a specific property before you make an offer, and the county assessor confirms it for the address.

Sources: Cook County Clerk, 2024 tax rate report, Lake County Clerk, tax extension data, DuPage County Clerk, property tax reports

What is the difference between Lake County and Cook County property taxes?
Most of the towns we serve sit in either Lake County (Highland Park, Deerfield, Lake Forest, Lincolnshire, Wauconda) or Cook County (Wilmette, Glencoe, Arlington Heights, Chicago), and Elmhurst sits in DuPage. The mechanics differ in three specific ways. Cook classifies property and assesses a home at 10 percent of the Assessor's estimated market value, then the state applies a county equalization factor, 3.0355 for tax year 2024, to lift the county's overall level to the statutory target. Lake and DuPage assess at 33 1/3 percent of fair cash value directly, and both carried a state factor of 1.0000. The homeowner exemption is worth $10,000 of equalized assessed value in Cook and $8,000 in Lake and DuPage. Cook reassesses a third of the county every year, while Lake and DuPage run a four-year cycle with Lake's next general assessment in 2027. Because each county sets its rate against a different base, the figure to compare across a county line is the effective rate.

Sources: Cook County Clerk, 2024 equalization factor, Cook County Assessor, homeowner exemption, 35 ILCS 200/15-175, general homestead exemption, Lake County, equalization factors

Towns and schools

The ten towns we cover, what they cost, and how the district lines actually run.

Which school districts serve Highland Park and Deerfield?
Highland Park elementary and middle schools are served by North Shore School District 112, and Deerfield elementary and middle schools are served by Deerfield Public Schools District 109. For high school, both towns feed into Township High School District 113, which runs Highland Park High School and Deerfield High School. Boundaries can split within a town, so a specific street can land in a different attendance area than a neighbor a few blocks away. Use the town comparison tool on this page for a starting point, including the state proficiency and graduation figures for each district, then confirm the exact assigned school for an address directly with the district before you rely on it.

Buying

Money, timing, and the numbers to check before you write an offer.

What closing costs does a buyer pay in Illinois?
An Illinois buyer typically pays lender fees, an appraisal, a home inspection, title insurance charges, recording fees, attorney fees, and prepaid items like homeowners insurance and a property tax escrow. As a rough range, buyer closing costs often run about 2 to 5 percent of the purchase price, with the loan and the escrow setup being the largest pieces. Illinois is an attorney-review state, so you will have a real estate attorney review your contract, which is normal and usually inexpensive. We give you an itemized estimate early so you know the cash you need at closing, and your lender and attorney confirm the final figures.
Do you work with first-time buyers?
Yes, and it is a big part of what we do. First-time buyers get the most value from a team that explains every number, because the process has a lot of moving parts: pre-approval, offers, attorney review, inspection, appraisal, and closing. We tell you what a home is really worth, what it costs to own each month once taxes and insurance are counted, and when a house is wrong for you even if it means walking away. There is no pressure and no script. The goal is that you buy the right home with real information in front of you.

Selling

Pricing, net proceeds, transfer stamps, and what a village wants before it closes.

How long do homes take to sell on the North Shore?
It depends on price point, condition, and season. For scale, the published medians in May 2026 were 45 days on market in Lake County, 46 in Cook, and 42 in DuPage, and sale-to-list ratios averaged just above 1.00 across all three that spring, meaning the typical home closed a little over asking. Town by town the spread is wider than the county figures suggest, running from roughly 38 days in Wilmette to about 60 in Lake Forest, with most of our towns in the forties. A well-priced, well-presented home often goes under contract within a few weeks, and the sharpest listings move in days with multiple offers. Higher-priced and luxury homes usually take longer because the buyer pool is smaller. Overpricing is the most common reason a home sits, since the most activity happens in the first two to three weeks a listing is live. We price with the comps, show you the plan before we launch, and adjust based on real showing and feedback data rather than guesses.
What closing costs does a seller pay in Illinois?
A seller in Illinois generally pays the real estate commission, attorney fees, title and settlement charges, and the state and county transfer taxes, which run $0.50 and $0.25 per $500 of price. The municipal stamp is a separate question, and in several of the towns we cover it falls on the buyer: Lake Forest charges $4.00 per $1,000 payable by the buyer before closing, Wilmette charges $3.00 per $1,000 with the buyer named as the party liable, and Lincolnshire requires the buyer to purchase the stamp before closing. Ask which side pays in your village before you rely on any net sheet, ours included. Some municipalities require a transfer stamp and a point-of-sale inspection before closing, which we flag early so nothing stalls the deal. Because property taxes here are paid in arrears, sellers also credit the buyer for taxes accrued but not yet billed, which is a real line item that surprises people. We walk you through a net sheet up front so you know your proceeds before you list, and your attorney confirms the exact numbers at closing.
How do you decide what to price a home at?
We price with the comparable sales, meaning recent closed sales of similar homes in the same area, adjusted for condition, size, lot, and updates. Then we factor in current inventory, buyer demand, and the season, and we look at what is pending and what has failed to sell so we are pricing to today's market rather than last year's. We show you the comps and the reasoning before we set a number, because a price that is too high costs you the strong early activity when a listing is fresh. The goal is the highest realistic price the market will actually pay, backed by data you can see.
When is the best time of year to list on the North Shore?
Spring is the most active season on the North Shore, with buyer demand building from late winter through early summer as families try to be settled before the school year. The pattern is sharp enough to plan around. Averaged over 2023 to 2025, May carried about 11.4 percent of Lake County's new listings for the year and December about 3.8 percent, with Cook at 10.6 and 4.0 percent. Homes that sold in January took a median 68 days on market in Lake County against 46 days in June. Listing into the spring means faster, and it also means the most competition you will see all year, which is the trade a fall seller is making in the other direction. That said, well-priced homes sell in every season, and listing in fall or winter can mean less competition from other sellers and more serious buyers. The right timing depends on your home, your price point, and your own plans. We look at current inventory and recent activity in your specific town and tell you honestly whether waiting for spring helps you or just delays your move.

Investing

Multifamily, off-market, landlord rules, and how a deal gets underwritten.

Do you work with investors, and what does off-market mean?
Yes. We handle investment property across Chicagoland, including off-market developments and multifamily buildings that never hit the public listings. Off-market means a property is available for sale but is not posted on the MLS or the public portals, so it is only seen by a private network of agents and buyers. These deals reward relationships and speed. Our team underwrites every one on the numbers, meaning rent rolls, cap rates, financing, and downside, and gives you an honest read rather than a pitch. If you are building a portfolio, this is where a lot of the real opportunity is.
Do you handle multifamily properties?
Yes. Multifamily and small apartment buildings are a core part of our investment work across Chicagoland, from two to four unit buildings up to larger developments. We underwrite them the way an owner should: rent roll, operating expenses, cap rate, financing, and the downside if a unit sits empty or rates move. Whether you are buying your first two-flat or adding to a portfolio, you get an honest analysis of what the building actually produces rather than a broker's optimistic pro forma.

Working with us

How we get paid, what we charge for, and what you sign.

Is the team bilingual?
Yes. We work with buyers, sellers, and investors in English and Spanish, from the first conversation through closing and the paperwork in between. If Spanish is the language you are most comfortable making a major financial decision in, you will be understood clearly at every step.
What makes a CPA-led team different?
Erik Gimbel, who leads the team, is a licensed broker and a CPA with an MBA, and he was previously the CFO and COO of the largest pickup-and-delivery dry cleaning company in Chicagoland. That financial background changes how a deal gets read. A property is looked at the way an investor would look at it: valuation, financing, tax impact, holding cost, and downside, before the square footage and the finishes. You get the numbers straight and you decide with real information. On the sell side it means pricing backed by data and negotiation aimed at your bottom line. On the buy side it means a clear picture of what a home actually costs to own over time.

Run the numbers before you call anyone

Tax rates and school districts for all 10 towns we cover, one at a time or three at once. Use it as a starting point, then ask us for exact figures on a specific property.

Compare the towns

Property taxes, schools, and the state’s own proficiency figures, side by side. Look one town up on its own, or add up to two more and the leading figure in each row gets marked: lowest tax, highest proficiency.

Glencoe compared with Wilmette: county, property tax, and school districts
GlencoeWilmette
CountyCook CountyCook County
Effective tax rate1.8%tax year 20241.7%tax year 2024
Tax on $750,000$14,000 / yr$13,000 / yrLowest
Per month$1,150 / mo$1,050 / mo
Elementary / middleGlencoe SD 35ELA 85.6%
Math 81.7%Highest		Wilmette SD 39ELA 85.7%
Math 77.1%
High schoolNew Trier Township High SchoolNew Trier Township HSD 203ELA 87.7%
Math 86.1%
Grad 97.5%		New Trier Township High SchoolNew Trier Township HSD 203ELA 87.7%
Math 86.1%
Grad 97.5%

On a $750,000 home, Wilmette is the lowest at roughly $13,000 a year. Glencoe runs about $1,250 more, in the region of $100 a month.

Every town here feeds the same high school, New Trier Township High School. That gap does not buy a different high school.

Each rate is annual tax as a share of market value, net of the general homestead exemption, built from the certified composite rate for the town’s main tax code, the state equalization factor, and the county assessment level (10 percent in Cook, a third in Lake and DuPage). Cook figures are tax year 2024, the most recent certified; Lake and DuPage are 2025. Two addresses in one town can sit about 15 percent either side of these numbers because of exemptions, assessment history, and district lines that split inside a town, so treat them as planning figures and confirm a specific address with the county assessor. For the full monthly payment with principal and interest, run the cost calculator.

School figures are published by the Illinois State Board of Education on the 2024-25 report card: the share of students proficient in ELA and math, and the four-year graduation rate. High school figures are for the specific school a town feeds rather than the district average, because Highland Park and Deerfield share a district but not a building. Elementary figures are district-wide. The mark is simply the higher number among the towns you picked, which is one measure and not the whole of a school. Look any school up yourself at illinoisreportcard.com.

Ask us anything

If your question is not here, or you want exact tax, school, or price figures for a specific address, send it over and a person will answer the actual question.

Contact the teamCall 847-530-3704