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 $600,000 - $700,000 $700,000 - $800,000
$900,000 - $1,000,000 Over $1,000,000
111 Properties Found. Page 1 of 10

$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 Desig...

3 Spacious Bedrooms ~ 3 Full Baths ~ Hardwood &...

REDUCED 2% Photo of Listing #09816542
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$1,299,000 Active

  • 3 Beds
  • 3 Baths
  • 2,384 ft²

Residential

55 East Erie Street #1705, Chicago, IL

MLS® #09816542

3 Spacious Bedrooms ~ 3 Full Baths ~ Hardwood & Marble Flooring ~ Granite Tops ~ Stainless Appliances ~ Fireplace ~ Ample Storage~ 2 Side By Side Indoor Parking Spaces Included In Asking Price ~ Private Balcony With Picturesque South And West Views ~ State Of The Art Fitness Center ~ Full Lengt...

Very Open And Clean Space At Elm Tower. Three E...

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$995,000 Contingent

  • 2 Beds
  • Baths
  • 2,632 ft²

Residential

1155 North Dearborn Street #603, Chicago, IL

MLS® #09837927

Very Open And Clean Space At Elm Tower. Three Exposures For Great Light. Oversized Living Room W/ Fpl Handles Multiple Seating Arrangements. Large Family Room Off Kitchen Could Also Be Formal Dining Room. Hardwood Floors Throughout. Spacious Cook's Granite & Stainless Kitchen W/ Big Center Island...

Rare Opportunity To Own This Iconic Italianate ...

REDUCED 8% Photo of Listing #09661777
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$785,000 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/...

REDUCED 1% Photo of Listing #09798371
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$759,900 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,...

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

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$655,000 Contingent

  • 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 Contingent

  • 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...

Short Sale! Edgebrook Red Brick Double Bay Colo...

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$499,000 Contingent

  • 3 Beds
  • Baths
  • 1,714 ft²

Residential

6467 North Hiawatha Avenue, Chicago, IL

MLS® #09842603

Short Sale! Edgebrook Red Brick Double Bay Colonial On Corner Lot In Highly Desirable In-town Location And Steps To Edgebrook School.. Easy Straight Thru Floor Plan. Sun Filled Home With Grand Size Rooms. Living Room With Woodburning Fireplace And Recessed Lights. Dining Room Open To White Cabin...

5 Bedroom Residential Property in Chicago, IL

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$499,000 Contingent

  • 5 Beds
  • 3 Baths

Residential

2520 West Haddon Avenue, Chicago, IL

MLS® #09769867

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

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$498,000 Active

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

Residential

10000 South Hoyne Avenue, Chicago, IL

MLS® #09834301

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 ...

*bank Approved Price* Lincoln Park Stunning Tri...

REDUCED 3% Photo of Listing #09583866
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$485,000 Contingent

  • 2 Beds
  • 3 Baths

Residential

1701 West Terra Cotta Place #e, Chicago, IL

MLS® #09583866

*bank Approved Price* Lincoln Park Stunning Triplex! 2 Bedrooms And 3 Bathrooms Grace This Beautifully Designed And Unique Home. Hardwood Floors And Vaulted Ceilings Throughout. Modern Kitchen With Granite Counters, Breakfast Bar, And Stainless Steel Appliances, Flows Into A Bright And Sunny Livi...

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 February 25th, 2018 at 9:20pm CST.