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
124 Properties Found. Page 1 of 11

Rare Opportunity To Own This Iconic Italianate ...

REDUCED 5% Photo of Listing #09661777
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$850,000 Contingent

  • 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...

View Our Virtual 3d Tour! Amazing 5 Star Hotel/...

NEW Photo of Listing #09798371
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$769,900 Active

  • 1 Beds
  • 2 Baths
  • 1,223 ft²

Residential

401 North Wabash Avenue #2792, Chicago, IL

MLS® #09798371

View Our Virtual 3d Tour! Amazing 5 Star Hotel/condominium Investment/in Town Opportunity At Chicago's Trump Tower! East And South Facing Views Of Lake Michigan And The Chicago River From The Spacious Lr And A "bigly" Mbr Suite. Beautiful One Bedroom And Two Full Baths Offering Open Full Kitchen,...

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...

This Move In Ready, East Facing, 2 Bed/2 Bath P...

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$655,000 Active

  • 2 Beds
  • 2 Baths
  • 1,461 ft²

Residential

240 East Illinois Street #2504, Chicago, IL

MLS® #09778705

This Move In Ready, East Facing, 2 Bed/2 Bath Property Is Located In The Highly Sought After Streeterville. Live Your Dream In The Heart Of Chicago's "magnificent Mile." This Area Is Home To The Best Restaurants, Cultural Venues, And The Most Upscale Shopping In Chicago - All Within Walking Dist...

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.

Do Not Miss! 3 Bedroom 2.5 Bathroom Duplex Down...

REDUCED 3% Photo of Listing #09761876
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$649,000 Active

  • 3 Beds
  • Baths
  • 2,700 ft²

Residential

718 West Aldine Avenue #1, Chicago, IL

MLS® #09761876

Do Not Miss! 3 Bedroom 2.5 Bathroom Duplex Down In East Lakeview. High End Custom Fixtures, Sub Zero, Viking And Bosch Appliances, Brazilian Gerry Hardwood Flooring, Huge Private Deck With Grill, Wet Bar, Two Fireplaces.. The List Goes On! Smart Home Equipped. This Is A Short Sale, Working With E...

This Home Offers A Tremendous Investment Opport...

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$599,000 Contingent

  • 6 Beds
  • Baths
  • 0.07 Acres
  • 4,147 ft²

Residential

3218 South Canal Street, Chicago, IL

MLS® #09716379

This Home Offers A Tremendous Investment Opportunity. The Home Is Loaded W/ 2 Central Air Units, 2 Split Fujitsu Hvac Units, One Downstairs For The Media Equipment Room To Run The Home Theatre. Cherry Hardwood Flooring And Cabinetry W/ 14-inch Floor Trusses W/ Joists & Base Flooring Is Double Cov...

3 Bedroom Residential Property in Chicago, IL

REDUCED 5% Photo of Listing #09382902
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$599,000 Active

  • 3 Beds
  • 2 Baths
  • 2,150 ft²

Residential

401 East Ontario Street #3509, Chicago, IL

MLS® #09382902

Short Sale - Amazing Opportunity For A Patient ...

REDUCED 17% Photo of Listing #09641889
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$562,000 Active

  • 4 Beds
  • Baths
  • 0.09 Acres
  • 2,613 ft²

Residential

5507 North Lakewood Avenue, Chicago, IL

MLS® #09641889

Short Sale - Amazing Opportunity For A Patient Purchaser! In The Same Family For 80 Years, This Charming 4 Br Has Had Mechanical/structural Updates (furnace, Central Air, Roof) But Yearns For A "forever 'family'" To Bring It To The Next Level. Surrounded By Million Dollar Homes, A Little Tlc And ...

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 November 24th, 2017 at 3:35pm CST.