Tax Lien Certificates In Illinois IL

Illinois is an excellent state for tax lien certificate sales. Here is a summary of information for tax sales in Illinois:

Interest Rate

36% for full year, on farm land 24%

Redemption Period

2 years

Illinois tax lien auctions

Most county tax lien sales are in November

Illinois tax deed sales

Illinois does have tax deed sales but they are not very common and are called scavenger sales. If enough properties are available, Scavenger sales in Illinois are conducted during odd-numbered years.

Bidding Process

All auctions are by competitive bid. In most counties, you must pre-register to bid approximately 10 days in advance of the sale

State Specific Information

Illinois is probably one of the best tax lien certificate investing states because the interest rate is high and the redemption period is short. Very populated counties have competitive sales.