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
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...

Short Sale. City Home Featuring Huge Gourmet K...

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$2,200,000 Contingent

  • 4 Beds
  • Baths
  • 0.06 Acres

Residential

N/A, Chicago, IL

MLS® #10032111

Short Sale. City Home Featuring Huge Gourmet Ktch With Wolfe Appl, Mohogony Cabinetry, Granite Tops, Sep Lr & Dr, Office/projection Room, Beautiful Mstr Ste, Heated Floor In All Bth, 4 Private Terraces, 2 Car Garage, With Elevator.

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® #10017468

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...

One Of A Kind Condo In Lucien Lagrange-designed...

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$1,199,900 Active

  • 4 Beds
  • Baths
  • 2,800 ft²

Residential

653 North Kingsbury Street #1801, Chicago, IL

MLS® #10030271

One Of A Kind Condo In Lucien Lagrange-designed Building In River North. 2800sf 4bd/4.1ba Lives Like A Single-family Dwelling. This Unique Home Features Floor-to-ceiling Windows, Polished Concrete Floors, 3 Balconies & Abundant Storage. Desirable Split Floorplan W/bedrooms Separated From The Ent...

Must Sell Now! Imagine Waking Up To Lake Michig...

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$985,000 Active

  • 3 Beds
  • Baths
  • 3,400 ft²

Residential

1515 North Astor Street #21a, Chicago, IL

MLS® #10077778

Must Sell Now! Imagine Waking Up To Lake Michigan Views On Highly Sought After Astor St. This Unique Duplex Was 2 Condos Combined Into One Amazing Home In The Heart Of Gold Coast! Home Has Many Updates. Kitchen Is Chef Ready With Highly Customized And Ergonomically Designed European Style Cabinet...

Contemporary Brick 4 Bedroom 3.5 Bath Single Fa...

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$949,000 Active

  • 3 Beds
  • Baths
  • 0.06 Acres
  • 2,900 ft²

Residential

2140 West Charleston Street, Chicago, IL

MLS® #10060377

Contemporary Brick 4 Bedroom 3.5 Bath Single Family In Bucktown. 12 Ft. Ceilings. Hardwood Maple Floors. Gourmet Cook's Kitchen With Stainless Appliances Including Jenn-air 6 Burner Range, Granite Counters, Breakfast Bar. Spacious Deck Off Kitchen/great Room With Stairs To Deck Over 2 Car Gar...

5 Bedroom Residential Property in Chicago, IL

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$825,000 Active

  • 5 Beds
  • 0.06 Acres

Residential

1538 West Fry Street, Chicago, IL

MLS® #10072456

Great Vacant Lot On Busy North Ave (route 64). ...

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$750,000 Active

  • 2.5 Acres

Lot / Land

27w046 North Avenue, West Chicago, IL

MLS® #10065672

Great Vacant Lot On Busy North Ave (route 64). Surrounded By Well Established Businesses Near The Corner Of County Line Rd And North Ave. Many Options For Possible Development Include Strip Mall Or Office / Retail Building. Traffic Count Of Over 78,000+. Outstanding Regional Demographics, Close T...

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

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$725,900 Price Change

  • 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...

Beautiful 6 Bed/4.1 Bath Home In Norwood Park -...

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$650,000 Contingent

  • 6 Beds
  • Baths
  • 0.24 Acres
  • 4,546 ft²

Residential

5912 North Nickerson Avenue, Chicago, IL

MLS® #10021187

Beautiful 6 Bed/4.1 Bath Home In Norwood Park - Custom Built 15 Years Ago. Large Home With Amazing Features Such As Wrap Around Porch, Pool And 3 Car Garage. Short Sale - Bank Approval Needed. All Showings Must Be Accompanied By Buyer's Broker.

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

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 September 23rd, 2018 at 9:36am CDT.