Which means all non owner occupied properties are exempt.

In some circumstances, the Act exempts owner-occupied buildings with no more than four units, single-family housing sold or rented without the use of a broker, and housing operated by organizations and private clubs that limit occupancy to members.

If you are unable to find where this data is stored for your county from a simple google search use this website: http://www.netronline.com/ For instance I can query my counties database and find absentee owners that live out of state and own property in my target market area, property with 15 year + deed dates (rough estimate for potential equity), various tax exemptions such as age 65+ / veterans/ disabled etc, filter out bank owned properties, find estates that have not yet settled etc.

You are exempt from capital gains taxes if you owned the house for at least two years and lived in the house for at least two years out of the first five.  

Your seller will probably be exempt from the new legal requirements.

My reading of the bill found references specificly removing use of an exemption from being licensed re financing of a "mobile home".  

-Compliance - Are the documents organized correctly and is the promoter using the right exemptions?  

With any investing in IL watch out for the taxes and tax exemptions because those could kill deals.

Although, getting the homeowner exemption, maybe not as big a deal selling..

I am a professional RE investor who currently flips homes for profit, so I have no exemptions for the owner occupant upon sale.