Learn how to wholesale real estate in Illinois using this step-by-step guide. Learn the stepbystep process of wholesale real estate contracts.Learn how to wholesale real estate in Illinois: 1. This article will delve into the legalities and strategies for executing wholesale deals effectively within the state. Wholesale real estate in Illinois combines the wholesaling principle, where investors buy low and sell high, and the Principle of Equitable Conversion. This doesn't have to be a barrier to you saving money and completing a quick and efficient wholesale real estate transaction in Woodridge. An Illinois purchase agreement is a standard contract for selling real estate from one party to another. Still researching since I am fired up about getting back in the water of real estate investing. A wholesale agreement is a contract that transfers the ownership of goods from an original seller to the buyer through an intermediary, called the wholesaler.