Here’s a number that should stop every real estate professional in their tracks: 53%. That’s the share of foreign buyers who purchased U.S. residential real estate with all cash in 2025, up from just 18% in 2022. These buyers bring no financing contingencies, no appraisal risks and no rate anxiety. For agents who know how to find and serve international buyers, that’s not just a statistic; it’s a business opportunity.
This business opportunity is especially significant for agents here in Chicagoland. Data from the National Association of REALTORS®’ 2025 International Transactions in U.S. Residential Real Estate report makes the case. Since 2010, Illinois has ranked within the top 10 U.S. states for foreign buyer residential real estate purchases, and the majority of the state’s international buyers are in and around Chicago.
The reasons for the high international demand in our region are multifaceted, rooted in demographics, global business and the simple fact that Chicago is one of the most internationally connected cities in the world.
As a real estate professional in Chicagoland, it is critical to both understand this growing trend, and to learn how to maximize it for your business.
Chicago’s foreign buyer’s market revealed
Illinois isn’t a foreign buyer’s market waiting to happen. It is one that’s been quietly thriving for years.
Illinois is the fifth-largest exporting state in the U.S. and the largest in the Midwest. It is home to more than 80 foreign consulates that facilitate employee relocation for global firms and ranks fourth in the nation for the number of employees supported by U.S. subsidiaries. Chicago alone has 29 sister city relationships across the world. With those statistics in mind, combined with factors like the ease of international travel from Chicago’s airports and the diversity of Chicagoland’s many neighborhoods, it’s no surprise that the region has a growing and thriving foreign-born population.
The state’s foreign-born population currently sits at 1.82 million, or 14.4% of all Illinois residents. Cook County alone is home to more than 1.1 million foreign-born residents (21.3% of its population). Chicago proper’s foreign-born share stands at 20.6%, representing roughly 557,000 people. In 2023, 17% of all Illinois homebuyers were immigrants, according to NAR’s Local Market Assessments Report.
These residents aren’t just potential buyers themselves. They are often the most trusted referral source for international buyers relocating from abroad. In 2025, referrals from previous clients and personal contacts together made up 61% of all foreign buyer leads, according to NAR. A real estate professional’s website/internet presence was the second most common lead source for foreign buyers after referrals. If you want to tap into this massive market, networking and shaping your web presence to attract international buyers are both key.
Chicago is a bargain compared to global peers
One of the most compelling (and underutilized) arguments agents can make to international buyers is price. Home prices in many U.S. metro areas, including Chicago, are comparatively inexpensive when measured against the central areas of major global cities. A buyer who is accustomed to prices in central London, Hong Kong or Singapore may find Chicagoland’s price-per-square-meter figures genuinely surprising. This framing can be a powerful tool in marketing to overseas buyers or their stateside relocation contacts.
For example, the average price per square meter for a home in central Hong Kong is $21,150, according to NAR data, while homes in downtown Chicago average about $4,750 per square meter.
When networking with and marketing to international buyers, especially those coming from countries with high real estate prices and a high cost of living, it’s critical to emphasize the cost savings that can be expected from a move to Illinois.
Know your buyers: Who is coming, and how are they transacting?
The top five countries from which foreign buyers moved to Chicagoland in 2025 included India (16% of Illinois foreign buyers), Mexico, China, Ukraine and the UK (each making up 11% of Chicagoland foreign buyers). While the number of foreign buyers from India is trending upward, the number of buyers from Mexico dropped sharply, from 25% of all foreign buyers in 2024 to just 1% in 2025. This is likely due to shifts in immigration policy over the last year.
It may also have an impact on the cash purchase trend among international buyers in Chicagoland. The percentage of foreign buyers paying cash has risen dramatically over the past three years, from 18% in 2022, to 25% in 2023, 38% in 2024 and finally 53% in 2025. This shift has real implications for how agents position and negotiate on behalf of their foreign clients, and it makes international buyers increasingly attractive to sellers in competitive situations.
Dollar volume of homes purchased by foreign buyers nationally reached $763 million in 2025, a 19% rebound from the 2024 trough of $643 million. The market is recovering and growing, and real estate professionals who build their international client base now are positioning themselves ahead of that curve.
Are you ready?
Chicagoland has always been a global city. Our demographics, our business community and our growing international real estate market tell the same story: the world is already here. The question for Realtors is whether they’re ready to serve it. The opportunity is real, and it’s right in our backyard.
Ramona Ruskuls is the director of specialty divisions, Mainstreet REALTORS®.