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

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

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...

Short Sale. Beautiful Home Featuring Huge Gour...

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$2,200,000 Contingent

  • 4 Beds
  • Baths
  • 0.06 Acres

Residential

429 West Superior Street, Chicago, IL

MLS® #10128516

Short Sale. Beautiful Home Featuring Huge Gourmet Ktch W Wolfe Appl, Mohogony Cabinetry, Granite Tops, Separate Lr & Dr, Office/projection Room, Beautiful Mstr Ste, Heated Floor In All Brs, 4 Privite Terraces, 2 Car Gar.

East Lincoln Park Lovers Who Appreciate Vintage...

NEW Photo of Listing #10314202
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$1,799,000 New

  • 4 Beds
  • Baths
  • 0.07 Acres
  • 3,900 ft²

Residential

2018 North Orleans Street, Chicago, IL

MLS® #10314202

East Lincoln Park Lovers Who Appreciate Vintage Charm With Modern Improvements, This Is The Home For You! Spectacular Custom Finishes Throughout This Home Include Preserved Original Pocket Doors And Millwork, Built-ins, Wall Coverings, Light Fixtures, Updated Kitchen And Bathrooms, And A Large, T...

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

REDUCED 10% Photo of Listing #10030271
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$900,000 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...

5 Bedroom Residential Property in Chicago, IL

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$775,000 Active

  • 5 Beds
  • 0.06 Acres

Residential

1538 West Fry Street, Chicago, IL

MLS® #10307076

Penthouse 2 Bedroom/2 Bath On Lake Shore Drive ...

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$559,000 Active

  • 2 Beds
  • 2 Baths
  • 1,395 ft²

Residential

474 North Lake Shore Drive #6002, Chicago, IL

MLS® #10278642

Penthouse 2 Bedroom/2 Bath On Lake Shore Drive With Sweeping Views Of The Lake And City, This Light And Bright Space Which Features More Square Footage And Higher Ceilings Then Your Other Units Offers Hardwood Floors, Granite Counters, Large Bedrooms With Great Closet Space And Much More! The Bui...

Enjoy Every Sunset From This Penthouse Condo Wi...

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$545,000 Contingent

  • 3 Beds
  • Baths
  • 1,834 ft²

Residential

3140 North Sheffield Avenue #709, Chicago, IL

MLS® #10249165

Enjoy Every Sunset From This Penthouse Condo With Fantastic Western Views! With Over 1800 Square Feet, This Beautiful Home Is A Must See! 3 Bedrooms, 2.5 Baths, Stainless Steel Appliances, Cherry Cabinets, Wide Plank Flooring, Walk-in Closets. This Lovely Condo Is Even On The Quiet Side Of The Bu...

City Living At Its Finest! In The Heart Of Rive...

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$499,900 Contingent

  • 1 Beds
  • Baths
  • 1,150 ft²

Residential

110 West Superior Street #1504, Chicago, IL

MLS® #10291134

City Living At Its Finest! In The Heart Of River North, Welcome Home To Superior 110. Floor To Ceiling Windows With Northern And Eastern Exposure Encapsulate The City Views. A Luxurious Chef's Kitchen Is Equipped With Silestone Quartz Counter Tops, Snaidero Italian Cabinetry And First-class ...

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

Fantastic High Floor One Bedroom Plus Den At Ol...

REDUCED 6% Photo of Listing #09838730
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$495,000 Re-activated

  • 1 Beds
  • Baths
  • 1,456 ft²

Residential

161 East Chicago Avenue #52h, Chicago, IL

MLS® #09838730

Fantastic High Floor One Bedroom Plus Den At Olympia. Jaw Dropping View From The Picturesque Windows Showcasing North And East Views Of The Lake And Skyline. New Hardwood Floors In Living Room And Den. Large Master Bedroom With Newer Bath And Large Shower. Plenty Of Closet Space For Storage. W...

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 23rd, 2019 at 5:50pm CDT.