Lobeling Capital
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Illinois · IL

Transactional funding in Illinois

Lobeling Capital funds the A-to-B leg of double closings in Illinois: 1% of the purchase price with a $1,000 minimum, approval within 24 hours, no credit check, and the wire goes to the closing agent before your A-to-B closes.

Wholesaling law in Illinois

Rule
One unlicensed deal per year
Citation
225 ILCS 454/1-10 (Real Estate License Act of 2000), as amended by Public Act 101-0357; penalties under 225 ILCS 454/20-10
Effective
2020 (Public Act 101-0357, signed August 2019)

Illinois treats anyone who deals in real estate contracts on two or more occasions in any 12-month period as a broker. One wholesale assignment per rolling year is allowed without a license; the second one requires an Illinois broker license. The Department of Financial and Professional Regulation can assess civil penalties of up to $25,000 per offense for unlicensed practice.

What it means for a double close

The rule is aimed at dealing in contracts. When you double close, you buy the property as principal and sell it as the owner, which falls under the owner exemption in 225 ILCS 454/5-20 rather than the contract-dealing definition. That is why Illinois wholesalers who do more than one deal a year run them as double closes with transactional funding.

How closings work in Illinois

Title or escrow company closings

Closings here are typically handled by a title or escrow company. We wire directly to the title company’s escrow account, and both legs of the double close must close at that same company.

Illinois closings run through title companies, which suits a same-day double close well: both legs close at one title company, the A-to-B is funded by our wire, and the B-to-C proceeds repay it the same afternoon.

Chicago-area deals often involve Cook County transfer stamps and municipal water and zoning certifications. Those are the seller’s and title company’s items, but build the lead time into your closing date so the B-to-C does not slip past the A-to-B.

Funding a double close in Illinois

  1. 1Send us your A-to-B purchase contract and B-to-C resale contract with the closing date.
  2. 2We review the deal, not your credit, and approve within 24 hours.
  3. 3Funds are wired to the closing agent handling both legs before the A-to-B closes.
  4. 4The B-to-C closes, our funding is repaid from the proceeds, and you keep the spread.

Sources

General information, not legal advice. Last reviewed October 2, 2026. Statutes change; confirm current rules with an attorney licensed in Illinois.