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
$800,000 - $900,000 Over $1,000,000
57 Properties Found. Page 1 of 5

Short Sale Unit, Sold As-is. No Garage Parking ...

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$1,600,000 Active

  • 4 Beds
  • 7 Baths
  • 5,400 ft²

Residential

545 West Aldine Avenue 6e, Chicago, IL

MLS® #10726872

Short Sale Unit, Sold As-is. No Garage Parking Available With Until. 6th Floor. Needs Extensive Rehabbing. Over 5,400 Square Feet. Known Water Leaking And Potential Mold. Four Bedrooms And Four Full And Three Half Bathrooms. Outdoor Space On Rooftop Terrace. Hardwood Floors Throughout.

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

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$895,000 Active

  • 4 Beds
  • 5 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...

Approved Short Sale Opportunity-classic Chicago...

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

  • 0.08 Acres

Residential Income

3244 North Oakley Avenue, Chicago, IL

MLS® #10589905

Approved 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 Appliances. On Site Laundry In The Basement. Storage Uni...

This Stunning And Unique Three Bedroom Duplex U...

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$799,900 Active

  • 3 Beds
  • 3 Baths
  • 3,000 ft²

Residential

1520 North Cleveland Avenue 3, Chicago, IL

MLS® #10840587

This Stunning And Unique Three Bedroom Duplex Up Penthouse, With A Private 1200 (approx) Square Foot Rooftop Deck, Is Situated In An A+ Location! Numerous Upgrades And High Ceilings Give This Home The Wow Factor You Seek. Contemporary Kitchen Offers Granite Countertops, Clean Subway Tile, Stainle...

Don't Miss The Opportunity To Live In This Hist...

REDUCED 4% Photo of Listing #10749202
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$669,900 Price Change

  • 3 Beds
  • 3 Baths
  • 0.02 Acres

Residential

3807 North Alta Vista Terrace, Chicago, IL

MLS® #10749202

Don't Miss The Opportunity To Live In This Historic Alta Vista Terrace Home! It's A Slice Of European Life Right Here In Lakeview. Alta Vista Terrace Was Designated Chicago's First Historic District, And This Home Features Many Of The Original Architectural Details Both Inside And Out. No Shor...

Be Right In The Middle Of Everything In This Hu...

REDUCED 3% Photo of Listing #10728364
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$460,000 Temporarily No Showings

  • 3 Beds
  • 2 Baths
  • 1,950 ft²

Residential

1520 North Sedgwick Street 2b, Chicago, IL

MLS® #10728364

Be Right In The Middle Of Everything In This Huge Extra Wide Single Floor Condo In Old Town. This Is A Short Salereq 120 Days To Close. Notice: Not For Investors : Tough Investment Rules: Only 1 Unit At A Time For 1 Year With Potential Renewal Granted If Nobody Else Wants To Rent. May Requi...

Beautiful 4 Bed/3.1 Bath Home Available In The ...

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$449,000 Contingent

  • 3 Beds
  • 4 Baths
  • 0.09 Acres
  • 2,700 ft²

Residential

3430 South Giles Avenue, Chicago, IL

MLS® #10268591

Beautiful 4 Bed/3.1 Bath Home Available In The Highly-sought After Near South Gap Neighborhood. Close To Mariano's, Beaches, Harbor, & Iit. Easy Access To Green/red Lines, Metra, & Expressway. Light-filled Family Room, Lots Of Windows With Direct View Into Backyard. Fireplace For Cold Winter Nigh...

Incredible Value & Opportunity In Quiet Logan S...

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$430,000 Contingent

  • 0.07 Acres

Residential Income

2641 North Avers Avenue, Chicago, IL

MLS® #10642343

Incredible Value & Opportunity In Quiet Logan Square Neighborhood. Inviting And Spacious Brick Two Flat With In-law Garden Appt With Separate Entrance. Two Bedrooms Each On Floors 1 And 2. Live In One And Rent Out The Other Two. Hardwood Floors Throughout! Bring Your Remodeling Ideas! Great Patio...

See This Home Today! Wonderful Location In Beau...

REDUCED 2% Photo of Listing #10697875
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$390,000 Contingent

  • 4 Beds
  • 3 Baths
  • 1 Acres
  • 2,524 ft²

Residential

4n670 Country Club Drive, West Chicago, IL

MLS® #10697875

See This Home Today! Wonderful Location In Beautiful Country Setting On Large Acre Lot With Gardens. Home Offers Over 3,600 Square Feet Of Living Pace Including The Finished Basement. Build Equity Right Away By Doing Some Updates. Home Has Solid Bones But Needs Some Tlc. Great Features Includ...

3 Bed 2 Bath Updated Condo. Lake View. Granit...

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$360,000 Active

  • 3 Beds
  • 2 Baths

Residential

4216 North Ashland Avenue 1, Chicago, IL

MLS® #10584661

3 Bed 2 Bath Updated Condo. Lake View. Granite, Stainless, Hardwood Throughout, Massive Master Bedroom With Master Bath And A Deck. Washer/dryer. Walk To Lincoln Square. 1 Exterior Parking Space In Rear. Simple And Accessible. Do Not Be Shy Because This Is A Short-sale And Subject To Bankr...

Property Is Sold As-is! Currently Pursuant ...

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$355,000 Active

  • 0.09 Acres

Residential Income

4549 South Wabash Avenue, Chicago, IL

MLS® #10843036

Property Is Sold As-is! Currently Pursuant To A Short Sale

Check Out This Solid-brick, Raised-ranch Home I...

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$334,900 Active

  • 3 Beds
  • 2 Baths
  • 0.06 Acres
  • 1,146 ft²

Residential

2701 South Hillock Avenue, Chicago, IL

MLS® #10799016

Check Out This Solid-brick, Raised-ranch Home In Chicago's Bridgeport Neighborhood! This Is A Short_sale! Natural Light Comes Through The Large Front Bay Window. Very Bright And Spacious Main Level Features 3 Bedrooms, 1 Full Bathroom Along With Kitchen And Dining Area. Lower Level Is Finished...

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 27th, 2020 at 6:15pm CDT.