Hey Maria,
I am finishing up my undergrad at Illinois. It is a great program, although I am not sure if the English Department is separate from comparative literature at the grad level.
I would not worry too much about funding. Although we have had a few problems this year with the state giving the public institutions the tax money they usually get, Illinois is in much better condition than a lot of other state institutions right now. California and Wisconsin come to mind (the latter I checked out for grad school and their provost or chancellor remarked about some faculty having to take several unpaid furlough days within the semester).
Illinois has amazing faculty, and although I do not know what period you are interested in, I know that we have remarkably strong professors in Modernism (especially Irish literature), theory, and early and nineteenth-century American literature.
If you have been offered funding, I would say visit. Illinois has always been very generous with their packages once you are in. Most English majors have the option of a funded seventh year if they need one to finish their dissertation. I myself was guaranteed six years of funding (and the teaching load is about the same for any state institution--less than others I had been looking into when I applied). If you feel comfortable here, let the DGS know how serious you are. I'm sure they will be very lucky to have you