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
$800,000 - $900,000 $900,000 - $1,000,000 Over $1,000,000
93 Properties Found. Page 1 of 8

$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...

6 Bedroom Residential Property in Chicago, IL

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$1,095,000 Contingent

  • 6 Beds
  • Baths
  • 0.07 Acres
  • 5,000 ft²

Residential

1143 West Montana Street, Chicago, IL

MLS® #10349316

Finish Your Own Home! Here's A Great Opportunit...

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$900,000 Active

  • 5 Beds
  • 4 Baths
  • 0.07 Acres
  • 4,000 ft²

Residential

1847 West Warner Avenue, Chicago, IL

MLS® #10593421

Finish Your Own Home! Here's A Great Opportunity To Create Instant Equity Growth! This Spacious Home Is New Construction That Is 85% Completed And Being Offered As Is. The Owner Is Moving On To Other Projects And Is Looking For Someone Who Wants To Finish Their Own Home. Current Plans Will Give A...

Stunning Turn-of-the-century Single Family Is L...

REDUCED 10% Photo of Listing #10560389
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$895,000 Active

  • 4 Beds
  • 4 Baths
  • 0.04 Acres
  • 3,400 ft²

Residential

1214 North Lasalle Drive, Chicago, IL

MLS® #10560389

Stunning Turn-of-the-century Single Family Is Located On The Border Of Old Town & Gold Coast. With Approximately 800-1100sqft Per Floor, Enjoy Living In This Four Level Home, Including Three Bedrooms + Office, 3 Full Bathrooms And 2 Half Baths And Full Basement + Huge Upper Level Family Room Wit...

Tremendous Opportunity! Spacious, Light-filled ...

NEW Photo of Listing #10675870
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$877,000 New

  • 5 Beds
  • Baths
  • 0.04 Acres
  • 2,502 ft²

Residential

911 West Addison Street, Chicago, IL

MLS® #10675870

Tremendous Opportunity! Spacious, Light-filled Greystone Ideally Located In Lakeview Near The Lake, Wrigley, The Red Line, Shopping & Dining Offers A Versatile Floor Plan With Four Bedrooms On The Second Level, A Master Suite With Private Bath On The Third Level, And A Large Walkout Lower Level W...

(multiple Offer Received. Final Showings Tuesda...

REDUCED 3% Photo of Listing #10589905
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$850,000 Contingent

  • 8 Beds
  • 5 Baths
  • 0.08 Acres

Residential

3244 North Oakley Avenue, Chicago, IL

MLS® #10589905

(multiple Offer Received. Final Showings Tuesday 1/7 At 7:30pm) Short Sale Opportunity-classic Chicago Brownstone In Roscoe Village: Brick 4 Unit Building With 5th Unit In Basement. Legal Non Conforming. Rs-3 Zoning. All Units Have Separate Utilities And Newer, Fully Functioning Mechanicals And A...

9 Bedroom Residential Property in Chicago, IL

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$659,000 Active

  • 9 Beds
  • 5 Baths

Residential

3741 West Lyndale Street, Chicago, IL

MLS® #10648582

Fantastic Investment Opportunity Or A Chance To...

REDUCED 7% Photo of Listing #10591626
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$649,000 Active

  • 3 Beds
  • 3 Baths

Residential

956 West Willow Street, Chicago, IL

MLS® #10591626

Fantastic Investment Opportunity Or A Chance To Have A Home Unlike Anyone Else! Architecturally Unique Home Offering Incredible Space That Is Absolutely Flooded With Light. Whether It's The Huge Skylight Overlooking The Family Room With 18 Foot Ceilings And Wood-burning Fireplace, Or The Wall Of...

Short Sale Incredible Value 12,040 Lot For Deve...

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$599,900 Active

  • 0.27 Acres

Lot / Land

7428 North Rogers Avenue, Chicago, IL

MLS® #10415401

Short Sale Incredible Value 12,040 Lot For Development Alert. Former 8084 Sf Single Family, Built In 1931 Was Formerly North Shore Rest Haven & Became A Licensed Daycare In 1979 And Currently Operates As Such. Property Is Suitable For Current Use As A Daycare Or Rehab To Desired Use. Potential...

*short Sale Approved At List Price!!**amazing O...

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$592,000 Contingent

  • 11 Beds
  • 0.15 Acres

Residential

5144-46 West Nelson Street, Chicago, IL

MLS® #10613406

*short Sale Approved At List Price!!**amazing Opportunity In Belmont Cragin Area, 4 Unit Property With Lots Of Potential. Each Unit Features 2 Beds, 1 Bathroom, Living Room, Separate Dining Room And Kitchen. Property Features A Newer Porch And A 4 Car Garage. Seller Makes No Representation To The...

Beautiful Townhouse In Coveted Wellington Park,...

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$549,900 Contingent

  • 3 Beds
  • 3 Baths

Residential

1745 West Wellington Avenue #-, Chicago, IL

MLS® #10612090

Beautiful Townhouse In Coveted Wellington Park, 3br, Den, 3 Bath. 4 Levels Of Living Space, 3 Bedrooms, 3 Full Bathroom With 2 Car Garage And Extra Spaces In Your Driveway. Convenient Location, Close To Chi Che Park, Whole Foods, Target, Jewel And The Brown Line. Large Kitchen With Stainless S...

Ss Opportunity To Update This Beautiful Penthou...

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$525,000 Contingent

  • 2 Beds
  • 2 Baths
  • 1,400 ft²

Residential

501 North Clinton Street #3404, Chicago, IL

MLS® #10617998

Ss Opportunity To Update This Beautiful Penthouse Northwest Corner Split 2 Bedroom, 2 Bath Condo In Kinzie Park Gated Community And Enjoy It's Panoramic Views Of River And City! Unit Needs Work, But Has Amazing Possibilities! Master Suite Has Dual Vanity, Bathtub And Separate Shower. 2nd Bedroom ...

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 March 29th, 2020 at 1:05pm CDT.