Illinois bulk sales law 2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by entering the 'Date of Notice' and 'Date of Intended Sale' at the top of the form. This establishes the timeline for your transaction.
3. In Section I, identify the business being sold. Fill in the 'Business Name', 'D/B/A', and complete the address fields including city, state, and zip code. Ensure you provide accurate contact information such as phone and fax numbers.
4. Continue with federal identification numbers and business structure details. Specify how long the business has operated at its current location and any relevant tax registrations.
5. Section II requires a description of the property being sold. If applicable, attach additional schedules for detailed descriptions.
6. In Section III, indicate the sales price and any amounts escrowed for taxes or debts owed to the City of Chicago.
7. Complete Sections IV and V with detailed information about both transferor/seller and transferee/buyer, ensuring all fields are filled accurately.

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