Possible assignment

[Simon W.]

hi,

There is a property that I might be able to put it under contract.
I found a potential buyer who does rehab and wholesaling as well.

I didn't tell the person the "assignment fee" since he asked me how much is the fee.

The thing is, the property was originally being sold for $12K, then negotiated some more, brought it down to $10K, then negotiated some more and brought it down to $5K.

I originally want to profit $15K since I was able to get it down to $5K and sell it to a contractor for $20K.

If I was just to assign it I want to make at min of $5K profit.

The property is in another state and this new potential buyer is also in another state.

Now my questions are

1. Is assigning allowed in Illinois?
2. Do you think $5,000 assignment fee is fine if the property I can get it for is $5,000?

Thanks for any input.