About Sohum Realty
- Sohum Realty is a licensed real estate brokerage based in Grayslake, Illinois, USA.
- We specialize in helping buyers, sellers, landlords, and tenants with all real estate needs across the Chicagoland area.
- Our team of licensed Illinois real estate professionals delivers honest, knowledgeable, and personalized service.
- We are members of the local Multiple Listing Service and source all website listings through MLSGRID.
- We operate in full compliance with the Illinois Real Estate License Act of 2000 and rules of the IDFPR.
- Our office is located at 70 S US Hwy 45 #207, Grayslake, IL 60030, USA.
- Grayslake is in Lake County, Illinois — part of the greater Chicagoland metropolitan area.
- We are accessible from Libertyville, Waukegan, Mundelein, Vernon Hills, and surrounding communities.
- Phone: (847) 238-2077. Email: info@sohumrealty.com.
- Website: https://sohumrealty.com for listings, market updates, and to connect with our team.
- Residential property buying and selling services across the Chicagoland area.
- Rental and leasing services for both landlords and tenants.
- Investment property consultation and cash flow analysis.
- Comparative Market Analysis (CMA) for sellers to determine accurate listing prices.
- Buyer representation including offer preparation, negotiation, and closing coordination.
- Seller representation including MLS listing, marketing, showings, and full transaction management.
- Yes. Sohum Realty is a fully licensed real estate brokerage in the State of Illinois.
- We operate under the Illinois Real Estate License Act of 2000 (225 ILCS 454).
- All agents are individually licensed by the Illinois Department of Financial and Professional Regulation (IDFPR).
- License status of all agents can be verified at the IDFPR public license lookup at idfpr.illinois.gov.
- Our brokerage follows the NAR Code of Ethics and maintains active MLS membership through MLSGRID.
- Sohum Realty primarily serves Lake County, Cook County, and DuPage County in Illinois.
- Key communities include Grayslake, Libertyville, Waukegan, Mundelein, Vernon Hills, Buffalo Grove, and Palatine.
- We also serve Round Lake, Antioch, Zion, North Chicago, and communities along the North Shore.
- We handle suburban residential transactions and Chicago-area investment properties.
- If unsure whether we serve your area, contact us — we will assist or refer you to a trusted colleague.
- Yes. We have extensive experience guiding first-time buyers through every step of the process.
- We explain the entire purchase process in plain language from pre-approval to closing.
- We help first-time buyers understand Illinois-specific requirements such as the attorney review period and required disclosures.
- We connect buyers with trusted local lenders, attorneys, inspectors, and title companies.
- Illinois IHDA down payment assistance programs are available for eligible first-time buyers.
- Phone: (847) 238-2077 — available Monday through Saturday during business hours.
- Email: info@sohumrealty.com — we aim to respond within 1 business day.
- Website contact form: https://sohumrealty.com — submit your inquiry anytime.
- Office Address: 70 S US Hwy 45 #207, Grayslake, IL 60030, USA.
- For urgent matters related to an active transaction, calling our office directly is the fastest option.
Property Listings & MLSGRID
- All property listings are sourced from MLSGRID, a leading MLS data aggregator.
- MLSGRID connects to participating Multiple Listing Services and delivers accurate, real-time listing data.
- Listings include properties submitted by member brokerages across the Chicagoland region.
- Some listings may also be properties directly represented by Sohum Realty agents.
- Listing data including photos, prices, property details, and status is refreshed regularly from MLSGRID.
- We make every effort to display the most current and accurate data available through MLSGRID.
- Listing status, pricing, and availability can change rapidly in a competitive Illinois market.
- We strongly recommend verifying the current status of any property directly with our agents.
- Sohum Realty is not responsible for inaccuracies in third-party MLS data provided through MLSGRID.
- Always confirm property details including taxes, HOA fees, school districts, and square footage independently.
- Active: The property is currently available and accepting offers.
- Pending: An offer has been accepted and the property is under contract and no longer available.
- Contingent: A contract is in place but subject to conditions such as financing or home inspection.
- Sold: The transaction has closed and title has transferred to the new owner.
- Off Market: The property has been removed from active listing status and is not publicly available.
- Use the request-a-showing form on each listing page on our website.
- Call us at (847) 238-2077 or email info@sohumrealty.com with the address or MLS number.
- Our agents arrange in-person showings, virtual tours, or video walkthroughs.
- We recommend scheduling promptly — desirable properties in the Chicagoland market move quickly.
- After your showing, your agent will provide a property summary and comparable sales analysis.
- Yes. Create a free account on our website to save listings and set up personalized alerts.
- Property alerts notify you when new listings matching your criteria become available.
- You will also receive alerts when a saved property has a price reduction or status change.
- Our agents can set up a personalized MLS search on your behalf with precise criteria.
- Contact us at info@sohumrealty.com or (847) 238-2077 to request a custom property search.
- No. All listing photos, descriptions, and data are protected by copyright law.
- Listing content is owned by the originating brokerage and licensed through MLSGRID for display only.
- Unauthorized downloading, reproduction, distribution, or commercial use of listing content is strictly prohibited.
- Real estate professionals seeking data access must contact MLSGRID directly at mlsgrid.com.
- Violations of MLSGRID or MLS data usage policies may result in legal action.
- Listing data is synchronized from MLSGRID and may experience brief delays during refresh cycles.
- Some details such as photos or additional remarks may not be populated by the listing agent.
- Different websites may display listings at different refresh rates.
- For the most complete and current information on any property, contact our agents directly.
- Discrepancies between our site and Zillow or Realtor.com should be verified with the listing brokerage.
Buying a Home in Illinois
- Step 1 — Financial Preparation: Review your credit and budget. Get mortgage pre-approval from a licensed lender.
- Step 2 — Hire a Buyers Agent: Work with a Sohum Realty agent who will represent your interests.
- Step 3 — Define Your Criteria: Establish must-haves, preferred neighborhoods, commute needs, and budget.
- Step 4 — Search Properties: Browse MLS listings, attend showings, and evaluate homes with your agent.
- Step 5 — Make an Offer: Your agent prepares a written purchase offer with price, contingencies, and timeline.
- Step 6 — Attorney Review: Both parties attorneys review and may modify the contract within 5 business days.
- Step 7 — Home Inspection: Licensed inspector evaluates the property. Results may lead to repair negotiations.
- Step 8 — Appraisal: Your lender orders an independent appraisal to confirm market value.
- Step 9 — Mortgage Final Approval: Lender issues a clear-to-close after reviewing all documentation.
- Step 10 — Closing: Sign all documents, transfer funds, and receive your keys.
- You are not legally required to use a buyers agent but it is strongly recommended.
- A buyers agent represents only your interests and not the sellers.
- In most Illinois transactions, the seller pays the buyers agent commission.
- Your agent handles offer preparation, negotiation, contract coordination, and closing logistics.
- Without representation, you negotiate with the listing agent who has a fiduciary duty to the seller.
- Sohum Realty buyer agents are experienced in Illinois real estate law and local market conditions.
- Illinois is one of very few states providing a mandatory attorney review period after a contract is signed.
- The attorney review period is typically 5 business days from the date all parties sign the contract.
- During this period, either partys attorney may approve, modify, or void the contract without penalty.
- An attorney can identify unfavorable terms, add protective contingencies, or negotiate modifications.
- Sohum Realty strongly recommends every buyer and seller retain a licensed Illinois real estate attorney.
- Attorney fees are typically $500 to $1,500 — one of the most valuable investments in the transaction.
- Down payment: Conventional loans 5 to 20 percent, FHA loans 3.5 percent, VA and USDA loans 0 percent if eligible.
- Earnest money deposit: Typically 1 to 2 percent of the purchase price, paid at contract signing.
- Home inspection fee: Approximately $350 to $600 paid directly to the inspector.
- Appraisal fee: Approximately $500 to $800, required by your lender before final loan approval.
- Attorney fees: Approximately $500 to $1,500 for a licensed Illinois real estate attorney.
- Closing costs: Typically 2 to 5 percent of the purchase price including lender fees, title insurance, and prepaid items.
- Earnest money is a good-faith deposit submitted by the buyer when a purchase offer is accepted.
- In Illinois, it is typically 1 to 2 percent of the purchase price and held in escrow by the title company.
- If the transaction closes successfully, the earnest money is applied toward closing costs or the down payment.
- If the seller defaults, the buyer is typically entitled to a full refund of the earnest money.
- If the buyer defaults without a valid contingency, the seller may retain the earnest money.
- Proper contingencies protect your earnest money — your agent will include all necessary protections in the offer.
- A home inspection is a professional evaluation of the property’s physical condition by a licensed inspector.
- Home inspections are not legally required in Illinois but are strongly recommended for every buyer.
- Inspectors evaluate structure, roof, foundation, electrical, plumbing, HVAC, windows, and insulation.
- The inspection report details defects, safety issues, and items requiring repair.
- Buyers typically have 5 to 10 business days after contract execution to complete inspections.
- Results may be used to request seller repairs, a price reduction, or a repair credit at closing.
- Loan origination fee: 0.5 to 1 percent of the loan amount charged by your lender.
- Appraisal fee: $500 to $800 for the independent property valuation required by your lender.
- Title insurance lenders policy: Typically $400 to $800 to protect the lender against title defects.
- Title insurance owners policy: Optional but strongly recommended for permanent ownership protection.
- Attorney fees: $500 to $1,500 for your Illinois real estate attorney.
- Total buyer closing costs in Illinois typically range from 2 to 5 percent of the purchase price.
- Title insurance protects against defects in the ownership history of a property.
- A lenders title insurance policy is required by your mortgage lender.
- An owners title insurance policy is optional but strongly recommended for permanent ownership protection.
- Common title issues include unpaid liens, errors in public records, and fraudulent deeds.
- In Illinois, title insurance is issued by a licensed title company at closing after a thorough title search.
- Sohum Realty agents work with trusted title companies and can recommend providers at your request.
Selling a Home in Illinois
- Contact us at (847) 238-2077 or info@sohumrealty.com to schedule a free listing consultation.
- Our agent will tour your property and prepare a detailed Comparative Market Analysis.
- We will discuss your goals, timeline, and recommended listing strategy.
- Your home will be listed on the MLS through MLSGRID, our website, Zillow, Realtor.com, and all major platforms.
- We manage all showings, open houses, offer reviews, negotiations, and transaction coordination through to closing.
- Your listing price is determined through a detailed CMA prepared by your Sohum Realty agent.
- The CMA compares your home to recently sold properties of similar size, age, condition, and location.
- We evaluate current active competition and market demand in your specific area.
- Factors include square footage, bedrooms, bathrooms, garage, basement, updates, lot size, and school district.
- Overpricing leads to extended market time and reduced buyer interest. Accurate pricing from day one produces the best outcome.
- Illinois requires sellers to complete and deliver a Residential Real Property Disclosure Report.
- Sellers must disclose all known material defects including structural, roof, basement, plumbing, electrical, and HVAC issues.
- Federal law requires a Lead-Based Paint Disclosure for all properties built before 1978.
- Illinois law requires a Radon Disclosure — Illinois has among the highest radon levels in the US.
- A separate HOA disclosure package is required if the property is part of a homeowners association.
- Failure to disclose known material defects can expose sellers to significant legal liability after closing.
- Net proceeds is the amount you receive after all costs and outstanding balances are deducted from the sale price.
- Primary deductions: remaining mortgage payoff, real estate agent commissions, and Illinois transfer taxes.
- Additional deductions: attorney fees, title fees, recording fees, HOA payoff, and any negotiated repair credits.
- Illinois state transfer tax: $0.50 per $500 of sale price plus applicable local municipal transfer taxes.
- Your Sohum Realty agent will prepare a Sellers Net Sheet before you list giving you a clear picture of expected proceeds.
- The final net proceeds figure is calculated by the title company and presented in a closing statement at closing.
- In the current Chicagoland market, well-priced homes in desirable areas often receive offers within days to 2 weeks.
- After an offer is accepted, the closing process in Illinois typically takes 30 to 60 days.
- Illinois attorney review adds 5 business days at the front of every transaction.
- Homes that are overpriced or need significant repairs may take 60 to 120 or more days to sell.
- Your total timeline from listing to funded closing is typically 60 to 90 days for a well-priced property.
- Sohum Realty provides regular updates on showing activity and recommends pricing adjustments if needed.
- Illinois imposes a state transfer tax at a rate of $0.50 per $500 of the sale price.
- Many local municipalities impose additional transfer taxes on top of the state rate.
- In Cook County, the total transfer tax burden can reach $7.50 to $10.50 per $1,000 or more.
- In Lake County communities such as Grayslake, the transfer tax burden is generally lower.
- Transfer taxes are typically paid by the seller unless otherwise negotiated in the purchase contract.
- Your Sohum Realty agent and attorney will provide a precise transfer tax calculation for your specific property.
- Yes. The vast majority of home sales in Illinois involve properties with an outstanding mortgage.
- At closing, your remaining mortgage balance is paid directly from the sale proceeds before you receive your net.
- Your lender will provide a payoff statement to the title company before closing.
- If the sale price is less than your outstanding mortgage balance, you may need to negotiate a short sale.
- Sohum Realty agents have experience with standard sales, short sales, and estate sales.
- Contact us to review your specific situation — we can help you understand your options before listing.
Renting & Leasing
- Yes. Sohum Realty assists both landlords and tenants with rental and leasing transactions.
- We help landlords list rental properties on the MLS and major rental platforms to attract qualified tenants.
- We assist tenants in finding suitable rental homes, condos, townhomes, and apartments in Illinois.
- Services include lease negotiation, tenant placement, application coordination, and lease document review.
- Contact us at (847) 238-2077 or info@sohumrealty.com to discuss your rental needs.
- Landlords must provide tenants with a habitable dwelling that meets health and safety standards.
- Required maintenance includes functional plumbing, heating, electrical systems, and structural integrity.
- Landlords must give at least 24 hours notice before entering a tenants unit except in genuine emergencies.
- Security deposits must be held in a federally insured, interest-bearing account separate from landlord personal funds.
- Security deposits must be returned within 30 days of move-out with an itemized written statement of any deductions.
- Illinois landlords must comply with the Illinois Landlord and Tenant Act and applicable local municipal ordinances.
- Tenants have the right to a habitable and safe dwelling — landlords cannot rent uninhabitable properties.
- Tenants can withhold rent or use repair-and-deduct remedies if the landlord fails to maintain the property.
- Security deposits are protected — improper retention can result in the landlord owing double the deposit amount.
- Tenants have the right to 30 days written notice for rent increases or non-renewal of a month-to-month tenancy.
- Retaliatory eviction is prohibited — a landlord cannot evict a tenant for exercising their legal rights.
- Sohum Realty recommends consulting a licensed Illinois attorney for specific landlord-tenant legal advice.
- A lease is a fixed-term agreement typically 12 months binding both landlord and tenant for the full term.
- Breaking a lease early without cause may result in financial penalties or liability for remaining rent.
- A month-to-month rental agreement automatically renews each month and can be terminated with proper notice.
- In Illinois, 30 days written notice is typically required to terminate a month-to-month tenancy.
- Leases provide stability — rent cannot be raised and the tenant cannot be asked to leave during the lease term.
- Month-to-month arrangements offer flexibility but less stability for both landlord and tenant.
Mortgages & Financing
- No. Sohum Realty is a real estate brokerage — we do not directly provide mortgage loans or financing.
- We work with a network of trusted, licensed mortgage lenders and brokers in the Illinois area.
- We can refer you to qualified mortgage professionals specializing in FHA, VA, conventional, and jumbo loans.
- Getting pre-approved before you begin your home search is essential in the current competitive market.
- Your Sohum Realty agent will work closely with your lender to ensure financing milestones are met on time.
- Conventional Loan: Standard mortgage not backed by the government. Requires 5 to 20 percent down and good credit.
- FHA Loan: Insured by the Federal Housing Administration. Allows down payments as low as 3.5 percent.
- VA Loan: Available to eligible veterans and active-duty service members. No down payment required.
- USDA Loan: Available for eligible rural and suburban Illinois properties. No down payment required.
- Jumbo Loan: For properties exceeding the conforming loan limit — typically $766,550 in most Illinois counties.
- IHDA Loans: Illinois state-sponsored programs with down payment assistance for eligible buyers.
- Pre-approval is a formal written commitment from a lender stating how much they are willing to lend you.
- It requires submitting income documents, tax returns, bank statements, employment verification, and a credit check.
- A pre-approval letter shows sellers you are a serious, qualified buyer — essential in competitive Illinois markets.
- Without pre-approval, sellers may not consider your offer or may favor buyers who have it.
- Pre-approval helps you shop within a realistic price range and understand your monthly obligations.
- Pre-approval involves verified documentation and carries far more weight than a basic pre-qualification.
- IHDA Access Forgivable: Provides 4 percent of purchase price up to $6,000 as a forgivable down payment grant.
- IHDA Access Deferred: Provides $7,500 in down payment assistance as an interest-free loan repayable at sale or refinance.
- IHDA Access Repayable: Provides $10,000 as a 10-year 0 percent interest repayable loan.
- Illinois Welcome Home Heroes: Provides assistance specifically for veterans, first responders, and teachers.
- All IHDA programs have income limits, purchase price limits, and first-time buyer requirements.
- Sohum Realty agents can connect you with IHDA-approved lenders who process these loan programs.
- Conventional loan: Minimum 620 credit score, with better rates available at 740 or above.
- FHA loan: Minimum 580 for 3.5 percent down. Scores between 500 and 579 may qualify with 10 percent down.
- VA loan: The VA has no minimum but most lenders require 620 or above.
- USDA loan: Typically requires 640 or above from most USDA-approved lenders.
- Jumbo loans: Typically require 700 or above due to higher loan amounts.
- Improving your credit score before applying is one of the most impactful steps to securing better loan terms.
Illinois Real Estate Law
- The Federal Fair Housing Act prohibits discrimination based on race, color, religion, national origin, sex, disability, and familial status.
- The Illinois Human Rights Act extends protections to include sexual orientation, gender identity, marital status, age, and ancestry.
- Real estate agents, brokers, lenders, appraisers, and property managers are all subject to fair housing laws.
- Sohum Realty is fully committed to equal housing opportunity and adheres to all applicable fair housing laws.
- If you believe you have experienced housing discrimination, file a complaint with HUD at hud.gov or the Illinois Department of Human Rights.
- Dual agency occurs when the same agent or brokerage represents both buyer and seller in the same transaction.
- In Illinois, dual agency is legal but must be disclosed in writing and consented to by both parties.
- A dual agent cannot fully advocate for either party since their interests are often in conflict.
- You have the right to decline dual agency and request exclusive buyer or seller representation.
- Sohum Realty always discloses agency relationships clearly and obtains written consent before any dual agency situation.
- Illinois requires sellers to complete and deliver a standardized disclosure form to buyers before an offer is made.
- Sellers must disclose all known material defects including structural, roof, plumbing, and HVAC issues.
- Federal law requires Lead-Based Paint Disclosure for all properties built before 1978.
- Illinois requires a Radon Disclosure — approximately 40 percent of Illinois homes test above EPA action levels.
- Buyers who discover undisclosed defects after closing may have legal recourse against the seller.
- Sohum Realty agents provide sellers with all required disclosure forms and guide accurate completion.
- Illinois has some of the highest property tax rates in the United States.
- Property taxes are assessed by the county assessor based on the estimated market value of the property.
- Lake County property tax rates typically range from 2.0 to 3.5 percent of assessed value.
- Property taxes are paid in arrears — taxes for a given year are typically paid in two installments the following year.
- At closing, property taxes are prorated and the seller credits the buyer for taxes accrued but not yet paid.
- Buyers should carefully review annual property tax amounts when evaluating the total cost of homeownership.
- Verify any Illinois real estate agent or broker license through the IDFPR online license lookup at idfpr.illinois.gov.
- Search by agent name, license number, or brokerage name to confirm active license status and disciplinary history.
- Active Illinois real estate licenses must be renewed every two years and require continuing education.
- A licensed real estate salesperson must work under the supervision of a licensed managing broker.
- Working only with licensed real estate professionals ensures you have legal protections and recourse under Illinois law.
- Complaints are handled by the Illinois Department of Financial and Professional Regulation at idfpr.illinois.gov.
- Grounds for complaint include misrepresentation, fraud, failure to disclose, breach of fiduciary duty, and fair housing violations.
- The IDFPR investigates complaints and can issue sanctions including fines, license suspension, or revocation.
- If the agent is a REALTOR member, you may also file a complaint with the local REALTOR association.
- Sohum Realty maintains the highest professional standards. Contact info@sohumrealty.com for any concerns about our services.
Investment Properties
- Yes. Sohum Realty works with investors seeking single-family rentals, multi-unit properties, and investment opportunities in Illinois.
- We provide investment property analysis including cap rate calculations and cash-on-cash return estimates.
- We have experience with purchase-and-hold investments, fix-and-flip properties, and 1031 exchange transactions.
- Our agents help investors identify undervalued properties and evaluate renovation potential.
- Contact us at (847) 238-2077 or info@sohumrealty.com to discuss your investment goals.
- Cap rate measures investment property return: Net Operating Income divided by Purchase Price.
- Net Operating Income equals annual gross rental income minus operating expenses including taxes, insurance, and maintenance.
- A higher cap rate indicates higher potential return but may reflect higher risk or a less desirable location.
- Cap rates for single-family rentals in Chicagoland suburbs typically range from 4 to 7 percent.
- Investors using mortgage financing also evaluate cash-on-cash return which measures return on actual cash invested.
- A 1031 exchange allows investors to defer capital gains taxes by reinvesting proceeds into a like-kind replacement property.
- The replacement property must be identified within 45 days of selling the original property.
- The purchase of the replacement property must be completed within 180 days of the sale.
- A qualified intermediary must hold the sale proceeds — you cannot receive the funds directly.
- Always consult a licensed CPA or tax attorney before proceeding — the rules are complex and deadlines are strict.
- Illinois landlord-tenant law imposes specific obligations regarding habitability, deposits, entry notice, and lease terms.
- Chicago and many suburbs have local ordinances that exceed state law requirements.
- Rental income is taxable at both federal and Illinois state level.
- Property management costs typically run 8 to 12 percent of gross monthly rent.
- Illinois courts are generally considered tenant-friendly — eviction proceedings can take 60 to 120 or more days if contested.
General & Legal
- No. All information on the Sohum Realty website is for general informational purposes only.
- Nothing on this website constitutes legal, financial, tax, investment, or professional advice of any kind.
- Always consult qualified licensed professionals before making real estate decisions.
- For legal advice, consult a licensed Illinois real estate attorney.
- For financial or mortgage advice, consult a licensed lender, mortgage broker, or certified financial advisor.
- For tax advice, consult a licensed CPA or tax attorney.
- Sohum Realty provides tenant placement and leasing services for landlord clients in the Chicagoland area.
- For full-service ongoing property management, we can refer you to trusted property management companies.
- Our agents assist with initial tenant screening, lease preparation, and move-in coordination.
- Contact us at info@sohumrealty.com to discuss your specific property management needs.
- We work with investors and property owners to maximize the performance of their real estate portfolio.
- Sohum Realty collects personal information solely for the purpose of providing real estate services.
- We do not sell, rent, or trade your personal information to third parties for marketing purposes.
- All data is handled in accordance with our Privacy Policy, GDPR Compliance Statement, and Cookie Policy on our website.
- We implement industry-standard security measures to protect personal information from unauthorized access.
- You have the right to access, correct, or request deletion of your personal information by contacting info@sohumrealty.com.
- Contact us directly at info@sohumrealty.com or (847) 238-2077 to discuss any concern.
- If your concern relates to licensed agent conduct, file a complaint with the IDFPR at idfpr.illinois.gov.
- If the agent is a REALTOR member, file an ethics complaint with the local REALTOR association.
- All complaints received by Sohum Realty are reviewed by our managing broker within 5 business days.
- We are committed to the highest standards of professional conduct and client satisfaction.