Chicago Foreclosures & Short Sales 

Searching for foreclosures and short sales in Chicago? If so you’ve come to the right place. Both foreclosures and short sales for sale in Chicago can be a great way to save money while also finding a great deal on a new home or condo. Although each can be a significantly more complex transaction, our team of Chicago real estate experts can help you navigate the rough waters of either a short sale or foreclosure property anywhere in town. So whether you’re a real estate investor or a regular home buyer looking for an everyday place to live, start browsing some of Chicago’s hottest short sales and foreclosures featured on the MLS below.

Search short sales and foreclosures in Chicago, or learn more about short sales and foreclosures below.

View Chicago Short Sales & Foreclosures on the MLS

All Listings $200,000 - $300,000 $300,000 - $400,000
$400,000 - $500,000 $500,000 - $600,000 $600,000 - $700,000
$700,000 - $800,000 $800,000 - $900,000 Over $1,000,000
179 Properties Found. Page 1 of 15

Rare Kinzie Park Opportunity To Own Luxury Rive...

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$1,595,000 Active

  • 3 Beds
  • Baths
  • 3,000 ft²

Residential

477 North Canal Street, Chicago, IL

MLS® #09369080

Rare Kinzie Park Opportunity To Own Luxury Riverfront Condo Beautifully Maintained As 1st Floor Media Room Opens To Front Yard...attached Garage...great Amenities...hard Too Find...

Huge Price Drop! This Is An Amazing Opportunity...

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$1,499,000 Active

  • 4 Beds
  • Baths
  • 6,500 ft²

Residential

4837 South Ellis Avenue, Chicago, IL

MLS® #09513249

Huge Price Drop! This Is An Amazing Opportunity To Buy A Large Home On A Substantial Lot! Located In Kenwood Close To The University Of Chicago And The Chicago Lab School, This Sun-filled 7,200 Square Foot Single Family Offers Expansive Living Space On Three Levels. It Is Set On A Massive 75 X 18...

Short Sale.sold As-is - Amazing 2 Story Single...

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$1,150,000 Contingent

  • 3 Beds
  • Baths

Residential

2316 North Janssen Avenue, Chicago, IL

MLS® #09511539

Short Sale.sold As-is - Amazing 2 Story Single Family Home In Lincoln Park. All Brick/limestone Facade With Exqisite Finishes Featuring A Chefs Kitchen With Subzero, Viking, Meile An Dacor, Custom Mahogony Cabinets & 1 1/4 Granite. 2 Wbfplc, 2 Ldry Rooms, Huge Master Suite With Steam Shower, 2 ...

This Gorgeous Corner Lot Home Has A Totally Uni...

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$895,000 Contingent

  • 5 Beds
  • Baths
  • 0.07 Acres
  • 3,800 ft²

Residential

2476 West Hutchinson Street, Chicago, IL

MLS® #09584743

This Gorgeous Corner Lot Home Has A Totally Unique Layout For The Buyers Who Have Seen It All! It Offers 5+ Bedrooms, 4.5 Baths, A 3rd Floor Flex Space, A True Walkout Basement And So Much More! Meticulously Renovated With Modern, Designer Finishes Including All New Hardwood Floors, White Shaker ...

Short Sale, So Please Allow Time For Bank Appro...

REDUCED 11% Photo of Listing #09500257
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$775,000 Active

  • 3 Beds
  • 4 Baths
  • 3,657 ft²

Residential

4756 West Bryn Mawr Avenue, Chicago, IL

MLS® #09500257

Short Sale, So Please Allow Time For Bank Approval. Home Was Built In The 60's, Has Good Bones But Needs Updating.

Come Home To Elegant Urban Chic In One Of Chica...

REDUCED 1% Photo of Listing #09477854
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$775,000 Active

  • 3 Beds
  • Baths
  • 2,800 ft²

Residential

1826 South Indiana Avenue #d, Chicago, IL

MLS® #09477854

Come Home To Elegant Urban Chic In One Of Chicago's Historic Neighborhoods. This Hot South Loop Kensington Park 2800 Sq. Ft. Town Home By Belgravia Is A True Gem. South Facing Formal Living Room With Gas Fireplace And Dining Room. 9'6" High Ceilings. A Sunny Eat In Kitchen With Double Oven & Sep...

5 Bedroom, 4 Bathroom, Plus Office, 2-story Bri...

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$750,000 Contingent

  • 3 Beds
  • 4 Baths
  • 0.07 Acres
  • 3,300 ft²

Residential

1317 North Bell Avenue, Chicago, IL

MLS® #09562513

5 Bedroom, 4 Bathroom, Plus Office, 2-story Brick, Single-family House. Hardwood Floors Throughout With Great Natural Light. Large Open Concept On The Main Floor With An Eat-in Kitchen. Plenty Of Space For An Additional Dining Room Table. Stainless Steel Appliances. Full Bathroom. Front And Bac...

Beautiful Extra Wide Townhome On The Parkway Ad...

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$749,000 Contingent

  • 3 Beds
  • Baths
  • 3,300 ft²

Residential

1419 South Campus Parkway, Chicago, IL

MLS® #09513216

Beautiful Extra Wide Townhome On The Parkway Adjacent To Park With Spectacular Views Of The City And Park. Freshly Painted Large Rooms With Tall Ceilings, Feels Like A Single Family. Great Open Floor Plan. Kitchen Has 42" Cherry Cabs, Ss Appls, Granite & Hdwd Fls. Master Bath Ensuite Features Jac...

Short Sale. 25 X 125' Lot In Lakeview. Price Is...

REDUCED 3% Photo of Listing #09591763
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$725,000 Active

  • 5 Beds
  • 0.07 Acres

Residential

1440 West Melrose Street, Chicago, IL

MLS® #09591763

Short Sale. 25 X 125' Lot In Lakeview. Price Is For Land Value Only; Building Is A Total Tear Down. Survey Is Uploaded In Documents.

Short Sale. Sold As Is. Seller Will Not Pay For...

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$650,000 Contingent

  • 5 Beds

Residential

652 North Oakley Boulevard, Chicago, IL

MLS® #09405106

Short Sale. Sold As Is. Seller Will Not Pay For Survey. Taxes Prorated At 100%. Ukrainian Village Brick 2 Flat In Great And Upcoming Area. Great For Live In Owner Or Can Be Converted To A Sinlge Family House. Owners Unit Is Duplexed With Hardwood Floors And Deck. 2 Car Garage And Ard Is Plus.

3 Bedroom Residential Property in Chicago, IL

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$645,000 Contingent

  • 3 Beds
  • 2 Baths
  • 2,150 ft²

Residential

401 East Ontario Street #3509, Chicago, IL

MLS® #09382902

A closer look at short sales and foreclosures in Chicago

So just what is the difference between a foreclosure and a short sale? Well, a foreclosure is the process in which the property is taken possession of because of a mortgagor’s failure to keep up with the mortgage payments. A short sale on the other hand is the sale of real estate in which the net proceeds fail to meet the debt owed by the former owner. In a short sale, all lien holders agree to accept less than the amount owed, which is precisely why finding a short sale can save active home buyers money.

Contact us for more Chicago short sale and foreclosure information

Want to learn more about how we can help you secure a short sale or foreclosure in Chicago? Reach out to us at your earliest convenience or begin browsing active MLS listings above to see just what's available right now.

Foreclosures and short sale properties can often present great deals for home buyers and real estate investors. For advice and information about buying a foreclosure in Chicago, please contact us.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Berkshire Hathaway HomeServices KoenigRubloff Realty Group are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed.

Listing information last updated on April 23rd, 2017 at 6:50am CDT.