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
125 Properties Found. Page 1 of 11

$3,000,000 Reduction. Accepting Offers & Showin...

REDUCED 54% Photo of Listing #09803547
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$2,600,000 Active

  • 6 Beds
  • 5 Baths
  • 0.37 Acres
  • 12,000 ft²

Residential

817 West Hutchinson Street, Chicago, IL

MLS® #09803547

$3,000,000 Reduction. Accepting Offers & Showings. Must Sell... This Exquisite, Architecturally Significant Home, Designed By George Washington Maher Was His Largest & His Last Design In The 2 Block Hutchinson Street Landmark District. The Famous Prairie School Architect, Explicitly Designe...

4 Bedroom Residential Property in Chicago, IL

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$2,300,000 Contingent

  • 4 Beds
  • Baths

Residential

N/A, Chicago, IL

MLS® #09927181

Short Sale. Photos Reflect A Family Packing Up ...

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$1,250,000 Active

  • 4 Beds
  • Baths
  • 0.08 Acres
  • 3,440 ft²

Residential

2727 North Racine Avenue, Chicago, IL

MLS® #09971454

Short Sale. Photos Reflect A Family Packing Up Their Home. Appointments Thru Listing Agent Only. This Lovely Family Home Has Room For Everyone. Many Beautifully Crafted Details In This James D. Letchinger Built Brick Home. Chef's Kitchen With Stainless Steel Appliances, Cherry Cabinets, Granite C...

Gorgeous Sheridan Park Historic District **** A...

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$850,000 Contingent

  • 9 Beds
  • 3 Baths
  • 0.12 Acres

Residential

4750 North Dover Street, Chicago, IL

MLS® #09940910

Gorgeous Sheridan Park Historic District **** A Must See! Red Brick & Limestone 3 Story-3 Flat - 3 Bdrms / 1 Ba Each Floor With Decorative Fireplaces & Sunrooms. Dining Rooms Have Barrel Vaulted Ceilings. W-i Closets In Each Front Hall. Hardwood Floors/maple On Levels 1 & 2 / Cherry On Level 3. ...

Attention Investors - Own Four Income Units In ...

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$845,000 Active

  • 7 Beds
  • 4 Baths

Residential

1729 North Fairfield Avenue, Chicago, IL

MLS® #09976426

Attention Investors - Own Four Income Units In Rapidly-appreciating West Bucktown - Legal Three-flat With Finished Attic - Rehabbed From Top To Bottom With Gut Rehabbed Plumbing, Electric, Roof -fully Occupied With Great Tenants - Gross Rent $5100/month -under Market Rents! Tenants Responsible Fo...

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

REDUCED 1% Photo of Listing #09798371
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$739,500 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,...

Great Opportunity To Own This Grand Custom Buil...

REDUCED 6% Photo of Listing #09885542
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$725,000 Contingent

  • 4 Beds
  • Baths
  • 3,654 ft²

Residential

827 East Oakwood Boulevard, Chicago, IL

MLS® #09885542

Great Opportunity To Own This Grand Custom Built Home With A Very Comfortable And Open Floor Plan Great For Hosting Friends And Family In Historic Bronzeville. There Are No Small Rooms In This 3,700 Square Foot Home That Boasts 6 Bedrooms, 3.5 Baths, Air Jet Bathtubs, Huge Chef's Kitchen, Granite...

Large Classic Chicago 2-flat (approx 1360 Sqft ...

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$675,000 Contingent

  • 4 Beds
  • 2 Baths
  • 0.08 Acres

Residential

3717 North Oakley Avenue, Chicago, IL

MLS® #09790341

Large Classic Chicago 2-flat (approx 1360 Sqft Per Unit) Directly Across The Street From Bell School. 30' Wide Lot. Roof, Masonry And Most Windows Replaced Or Rehabbed Approx. 15 Years Ago. Concrete Foundation With Steel Posts And Beams. 2 Car Brick Garage. Cosmetic Updates Will Make It A Good Re...

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.

This Beautiful Brick 2 Story Home Is Has 4 Bedr...

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$621,000 Active

  • 4 Beds
  • Baths
  • 0.12 Acres

Residential

7813 West Seminole Street, Chicago, IL

MLS® #09967954

This Beautiful Brick 2 Story Home Is Has 4 Bedrooms And 3.1 Baths. Conveniently Located. Updates Include Kitchen, Counter Tops, Hardwood Floors, Deck, Windows And Much Much More! Pursuant To Short Sale

Absolutely Gorgeus!!!!!under Construction!!!! ...

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$615,000 Active

  • 5 Beds
  • 4 Baths
  • 3,600 ft²

Residential

5008 West Warwick Avenue, Chicago, IL

MLS® #09984992

Absolutely Gorgeus!!!!!under Construction!!!! With Estimated Completion In Aug 2018!!! High End Single Home On Residential Street In Portage Park. Still Time To Pick Up Finishes, House Built Tailored To Please Your Dream House!!!!! Featuring High Ceilings On All Floors Including Basement!!!...

A Tasteful Victorian Home In The Heart Of Raven...

REDUCED 2% Photo of Listing #09913237
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$585,000 Contingent

  • 3 Beds
  • Baths
  • 2,142 ft²

Residential

1459 West Sunnyside Avenue, Chicago, IL

MLS® #09913237

A Tasteful Victorian Home In The Heart Of Ravenswood. The Classic Exterior Home Invites You Inside To A Modern And Desirable Floor Plan. Featuring An Updated & Open Kitchen With 42'' Cabinets, Granite Counters & Stainless Steel Appliances, It Is Great For Entertaining. Upstairs Features 3 Large B...

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 June 23rd, 2018 at 2:50am CDT.