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
97 Properties Found. Page 1 of 9

$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

REDUCED 8% Photo of Listing #10349316
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$1,195,000 Active

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

Residential

1143 West Montana Street, Chicago, IL

MLS® #10349316

Stunning Turn-of-the-century 4000sqft Single Fa...

REDUCED 9% Photo of Listing #10560389
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$998,000 Active

  • 4 Beds
  • 4 Baths
  • 0.04 Acres
  • 4,000 ft²

Residential

1214 North Lasalle Street, Chicago, IL

MLS® #10560389

Stunning Turn-of-the-century 4000sqft Single Family Is Located On The Border Of Old Town & Gold Coast. There Are Four Levels Including Three Bedrooms + Office, 3 Full Bathrooms And 2 Half Baths And Full Basement. Modern Convenience And Luxury Finishes With The Historic Charm Of Chicago's Brownst...

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...

Beautiful, Well-maintained Brick 2-flat In Edge...

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$850,000 Active

  • 8 Beds

Residential

1473 West Gregory Street, Chicago, IL

MLS® #10603299

Beautiful, Well-maintained Brick 2-flat In Edgewater/andersonville. 1st & 2nd Floor Units Has 3 Bedrooms, 1 Bath. Full Finished Basement With 2 Bedrooms, 1 Bath. Great Rental Opportunity! Top Floor Is Updated With Hardwood Floors And Granite Counter Top! Perfect Location Convenient To All Shoppin...

(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...

Tremendous Opportunity! Spacious, Light-filled ...

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$719,000 Contingent

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

Residential

911 West Addison Street, Chicago, IL

MLS® #10568169

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...

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

NEW Photo of Listing #10613406
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$592,000 Active

  • 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,...

NEW Photo of Listing #10612090
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$549,900 Active

  • 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...

Fully Rented All Brick 3 Unit Building On Quiet...

REDUCED 2% Photo of Listing #10333815
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$539,900 Contingent

  • 6 Beds
  • 3 Baths

Residential

2633 West Potomac Avenue, Chicago, IL

MLS® #10333815

Fully Rented All Brick 3 Unit Building On Quiet Street. All Units Are 2 Bed, 1 Bath With South Facing Back Decks. Building Has Laundry And Storage In Basement, Large Back Yard And Detached 2 Car Garage. All Unit Have Individual Furnaces And Hot Water Heaters.

Attention Investors/ Rehabbers! The Lower Leve...

REDUCED 5% Photo of Listing #10525055
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$524,900 Active

  • 7 Beds
  • 3 Baths
  • 0.06 Acres

Residential

1656 West Bryn Mawr Avenue, Chicago, IL

MLS® #10525055

Attention Investors/ Rehabbers! The Lower Level Has Framing, Plumbing, Electrical And Some Drywall Completed For A 2 Bed, 1 Bath Unit In The Garden. Someone Just Needs To Finish The Job!

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

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$499,000 Contingent

  • 3 Beds
  • 2 Baths
  • 1,950 ft²

Residential

1520 North Sedgwick Street #2b, Chicago, IL

MLS® #10380965

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. Note: Tough Investment Rules: Only 1 Unit At A Time For 1 Year With Potential Renewal Granted If Nobody Else Wants To Rent. May Require 1-90 Days To Get Ba...

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 January 23rd, 2020 at 2:05am CST.