Real Estate Contract & Disclosures
The standard contract and disclosures used in Chicagoland residential real estate transactions — download each form below.
Buying or selling a home in Illinois involves a stack of standard forms — a purchase contract plus several state and federal disclosures. Below are the four most common ones for a typical Chicagoland residential transaction, with a plain-English summary of what each one is for.
If you would like an attorney to review one of these before you sign, contact REAL Law Group for a free consultation.
Multi-Board Residential Real Estate Contract 8.0
The standard purchase contract used for most single-family and condo sales in the Chicago area.
Jointly approved by the Chicago Association of REALTORS® and several Chicagoland bar associations, this is the contract you will most likely sign when buying or selling a home. It sets the price, financing terms, contingencies, attorney review window, inspection rights, and closing date. Illinois law gives both sides a short attorney review period after signing — that is the window where most negotiation actually happens.
Illinois Residential Real Property Disclosure Report
The seller's sworn statement about known material defects in the property.
Required by the Illinois Residential Real Property Disclosure Act (765 ILCS 77) for most residential sales. The seller answers a fixed list of yes/no questions covering the roof, foundation, basement, plumbing, electrical, HVAC, environmental conditions, and known code violations. It is not a warranty, but a knowing misstatement can expose the seller to liability — buyers should read it carefully and follow up on anything flagged.
Illinois Radon Disclosure
Required radon-awareness disclosure given to buyers before contract.
Under the Illinois Radon Awareness Act (420 ILCS 46), sellers of most residential property must give buyers a disclosure form and the IEMA pamphlet describing the health risks of radon. Sellers must also disclose any radon test results and known elevated levels. Radon is a naturally occurring radioactive gas that can collect in basements and lower levels — the only way to know your level is to test.
Lead-Based Paint Disclosure
Required federal disclosure for any home built before 1978.
The federal Residential Lead-Based Paint Hazard Reduction Act requires sellers (and landlords) of housing built before 1978 to disclose any known lead-based paint or hazards, share any reports they have, and give buyers a 10-day window to conduct a lead inspection. Buyers must also receive the EPA's lead pamphlet and sign the disclosure acknowledgment before the contract is binding.
Have an attorney review before you sign
Illinois law builds an attorney review period into the Multi-Board contract for a reason — the form is standardized, but the deal is not. Inspection responses, financing terms, closing dates, credits, and disclosure follow-ups are all negotiated during that window.
REAL Law Group represents buyers and sellers across the Chicago area from contract review through closing. If you have a contract in hand or a question about any form on this page, we are happy to look at it.
Need help with a contract or disclosure?
Our Chicagoland real estate attorneys can review, negotiate, and close on your behalf. Free consultation — call (630) 299-7600.