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 $900,000 - $1,000,000
Over $1,000,000
149 Properties Found. Page 1 of 13

Fantastic Location Historical Palmer Sq Across ...

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$950,000 Contingent

  • 7 Beds
  • 4 Baths
  • 0.08 Acres

Residential

3055 West Palmer Boulevard, Chicago, IL

MLS® #09650530

Fantastic Location Historical Palmer Sq Across From Magnificent Palmer Sq Park. Remarkable Greystone 2 Flat Plus A Finished Basement, 1800 Sq Ft Apts. 1st Floor Owners Unit Has A Master Suite W Adjoining Bath Off The Master Bedroom. Totally Rehabbed, Gorgeous Kitchens, 3 Bedrooms, 2 Baths, Please...

Rare Opportunity To Own This Iconic Italianate ...

REDUCED 9% Photo of Listing #09661777
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$899,000 Active

  • 3 Beds
  • 2 Baths
  • 0.06 Acres
  • 1,656 ft²

Residential

319 West Eugenie Street, Chicago, IL

MLS® #09661777

Rare Opportunity To Own This Iconic Italianate Cottage In The Heart Of The Old Town Triangle. Outside: Wrought Iron Fencing And Beautifully Established Gardens Front And Back. Charming Italianate Details Including Decorative Flattened Arch Frames Over The Windows And Doors, Lovely Paired Corbels...

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® #09629818

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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$765,000 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...

Fantastic 3 Bedroom Located In Eugenie Terrace!...

NEW Photo of Listing #09692956
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$749,000 Active

  • 3 Beds
  • Baths

Residential

1715 North Wells Street #39, Chicago, IL

MLS® #09692956

Fantastic 3 Bedroom Located In Eugenie Terrace! Great Floor Plan With Gorgeous Terrace (room For Furniture And Grill!) And Steps From The Pool. Amazing Location, On Wells Street, Steps From The Park And Lake, And In Lincoln School District! Great Bedroom Sizes With Fantastic Flow Of The Floor Pla...

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

REDUCED 2% Photo of Listing #09382902
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$630,000 Price Change

  • 3 Beds
  • 2 Baths
  • 2,150 ft²

Residential

401 East Ontario Street #3509, Chicago, IL

MLS® #09382902

3 Bedroom Residential Property in Chicago, IL

REDUCED 5% Photo of Listing #09486175
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$560,000 Contingent

  • 3 Beds
  • 3 Baths
  • 3,381 ft²

Residential

5831 North Sheridan Road #a, Chicago, IL

MLS® #09486175

This Unit Is Now Bank Owned! Please Submit Of...

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$550,000 Active

  • 2 Beds
  • 2 Baths
  • 1,850 ft²

Residential

1515 North Astor Street #7c, Chicago, IL

MLS® #09658326

This Unit Is Now Bank Owned! Please Submit Offers By Monday At 5:00pm.

This Custom Home On Large Corner Lot Home Has B...

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$535,000 Contingent

  • 4 Beds
  • Baths
  • 0.24 Acres
  • 3,100 ft²

Residential

10000 South Hoyne Avenue, Chicago, IL

MLS® #09631425

This Custom Home On Large Corner Lot Home Has Been Updated With Prof Grade Kitchen With Sub Zero, Fisher Paykel Appliances Custom Gray Lacquer Cabinets, Eat In Kitchen. Formal Dining Room, 3 Fireplaces, 4 Bedrooms + Den And 2 Bedrooms With Private Full Baths, Lovely Cherry Wood Built-ins, Marble ...

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 July 25th, 2017 at 4:20am CDT.