Best Contract/Method for Double Closing

[Larry Moore]

Trying to decide which is the best method for double closing: using an option contract, or warranty deed transfer. Seems like there are a lot of advocates for using and recording options, but, also some who have issues with their use, such as they do not provide true equitable interest to market the property (vs marketing the option) for an end buyer, and a nominal consideration (such as $10) not being true consideration (one lawyer has suggested at least $500). Transfer of warranty deed seems to be a no-no here in IL; the same lawyer has suggested that the title company hold the deed in escrow until closing. Up until now I have been using a standard sale and purchase contract without a double close. What is everyone else doing?

Thanks