Illinois Bulk Sale Notice — IDOR Form CBS-1: Chicago restaurant guide
Illinois Department of Revenue
What it is
The state version of the bulk-sale notice. The purchaser (or seller) files Form CBS-1 at least 10 business days before buying a business's inventory, fixtures or equipment outside the ordinary course of business; otherwise the purchaser is personally liable for the seller's unpaid Illinois taxes up to the value of the assets.
When a restaurant needs it
Only if you are buying an existing restaurant's assets.
How to apply
E-mail the completed CBS-1 with the sales contract and financing agreement to REV.bulksales@illinois.gov (or fax 217-785-2635 / mail). IDOR issues a bulk sales release once the seller's taxes, penalties and interest are paid.
Documents you’ll need
- Form CBS-1
- Sales contract
- Financing agreement
Good to know
Make the closing contingent on the IDOR release and the City's bulk sales clearance; questions 217-782-9904.
Official source
IDOR — Form CBS-1 instructions
Answer a few questions about your space and get every permit in order, with a timeline, a cost range, walkthroughs, and every application filled in for you to sign with Open.
Last reviewed 2026-10-06. Guidance only, not legal advice.