Double Close Funding in Chicago, IL | Swift Deal Funding
Double Close Funding in Chicago, IL
Chicago is one of the strongest wholesale markets in the country, and the double close is the structure that makes serious wholesaling here sustainable. The reason is legal: Illinois’s Real Estate License Act limits unlicensed wholesalers to assigning no more than one property per 12-month period — beyond that you need a real estate license. A double close is structurally different. You take title and become the principal owner, buying from the seller and reselling as the property’s owner rather than assigning a contract. Swift Deal Funding is a direct lender that wires the cash for your A-to-B purchase so you can take title and immediately resell to your end buyer, both legs closing the same day at one Chicago title company.
The metro’s price variance is enormous — a citywide median near $300,000 masks deep-discount inventory on the South and West Sides alongside premium North Side blocks. Investor-heavy neighborhoods like Englewood, Austin, Chatham, South Shore, and Humboldt Park produce steady distressed and two-flat deals, while value-add demand stays high from out-of-state and local buy-and-hold buyers. A double close protects your spread and keeps your activity outside the assignment limit. Funded amounts here commonly run $150,000 to $600,000, though we can fund up to $100,000,000+ on a single transaction. We never pull credit, verify income, or ask for tax returns.
How Double Close Funding closes in Chicago
Illinois is a wet-funding state — money must be in escrow before the title company disburses — and Chicago title offices double close routinely because of the license law. The sequencing:
- You line up one investor-friendly Cook County title company to run both the A-to-B and B-to-C legs.
- We wire our funds to that office by 9 AM the morning of closing, so cash is in escrow before anyone signs.
- The A-to-B leg funds with our money; the seller is paid and title moves to you — you are now the principal owner.
- The B-to-C leg closes minutes later; your end buyer funds, you take your spread, and we are repaid from those proceeds before the file disburses.
Because taking title is the structure that keeps you outside Illinois’s assignment limit, confirm both the same-day sequencing with your title company and how the license law applies to your deal with an Illinois real estate attorney.
Pricing
Tiered flat fee, collected on the settlement statement only when the deal closes:
| Funded Amount | Fee Rate | Example |
|---|---|---|
| Up to $1,000,000 | 1.25% | $300K deal = $3,750 |
| $1M – $10M | 1.0% | $2.5M deal = $25,000 |
| $10M+ | Custom | Contact us |
No upfront fees, no application cost. You pay only if the transaction funds and closes.
What you’ll need
- Fully executed A-to-B purchase contract
- Fully executed B-to-C contract to your end buyer
- Verified end buyer with proof of funds or a financing pre-approval
- Same-day closing scheduled on both legs
- A single Cook County title company handling both transactions
No credit check, no income docs, no tax returns. A local note: the double close has you take title as principal, which is structurally distinct from an assignment and is how Chicago wholesalers operate past Illinois’s one-property assignment limit — confirm the structure with an Illinois real estate attorney.
A typical Chicago double close scenario
A wholesaler ties up a distressed two-flat in Englewood at $135,000 and has a buy-and-hold investor at $195,000. Assigning would both expose the $60,000 spread and count against the one-property-per-year assignment cap — so the wholesaler double closes at a Cook County title company. We wire $135,000 by 9 AM. The A-to-B leg funds, the seller is paid, and title moves to the wholesaler as principal. Minutes later the B-to-C closes with the end buyer’s $195,000. We are repaid $135,000 plus the 1.25% fee ($1,687) from proceeds. The wholesaler nets roughly $58,313 — and operated as a principal owner, not an assignor.
Apply
Upload both contracts and your end buyer’s proof of funds through our online form. Standard turnaround is about 48 hours to wire-ready; same-day funding is available for complete files submitted before 11 AM Eastern.
Frequently Asked Questions
How does a double close work with Illinois's wholesaler license law in Chicago? +
This is the key reason Chicago wholesalers double close. Illinois's Real Estate License Act limits unlicensed wholesaling: you can't market and assign more than one property per 12-month period without a real estate license. A double close is structurally different — you actually take title and become the principal owner, buying from the seller and reselling as the property's owner rather than assigning a contract. Taking title as a principal is generally outside the assignment-based activity the license limit targets. We fund the A-to-B leg so you can take title. Confirm your specific situation with an Illinois real estate attorney.
Which Chicago title companies handle same-day double closes? +
Many established Cook County title and escrow offices run back-to-back A-to-B and B-to-C closings, since double closing is common here precisely because of the license law. Illinois is a wet-funding state, so our money is in escrow before anyone signs. Use one title company for both legs — splitting them breaks the same-day sequencing. When you apply, give us your title contact and we coordinate the 9 AM wire and second-leg disbursement. Confirm same-day funding on both legs with your title company before you set the date.
Why double close instead of assign in Chicago specifically? +
Two reasons stack here. First, the legal one: Illinois caps unlicensed assignment-based wholesaling at one property per 12 months, while taking title in a double close sidesteps that assignment activity. Second, the spread stays private — your markup never hits the seller's settlement statement, which matters on wide-margin deals in Englewood, Austin, or Chatham. We fund the A-to-B purchase and are repaid from the B-to-C proceeds. Always confirm how the license law applies to your deal with an Illinois real estate attorney before relying on the title-taking structure.
Apply for Double Close Funding in Chicago, IL
Submit your application online — same-day decisions for complete files before 2 PM Eastern.