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
41 Properties Found. Page 1 of 4

Whoopty! Easily Turn This Skeleton Of A Two-fla...

REDUCED 5% Photo of Listing #11247997
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$500,000 Active

  • 11 Beds
  • 6 Baths
  • 0.06 Acres

Residential Income

2934 North Lawndale Avenue, Chicago, IL

MLS® #11247997

Whoopty! Easily Turn This Skeleton Of A Two-flat Into A Duplex Up And Duplex Down With Rs-3 Zoning. However, If You Want To Go Another Direction, There Are Four Electrical Panels, Four Water Meters, And Four Electrical Meters...just Sayin'. Each Of The Middle Floors Are Framed And Plumbed For 3 B...

Legal Two Flat In Prime Roscoe Village Location...

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$459,000 Contingent

  • 3 Beds
  • 3 Baths

Residential Income

3111 North Oakley Avenue, Chicago, IL

MLS® #11309412

Legal Two Flat In Prime Roscoe Village Location! First Floor Unit With 2 Bedrooms, 2 Baths, Duplexed Down To Semi-finished Basement, Front Porch, Large Kitchen, Hardwood Floors, Replacement Windows And More. Second Floor Unit Is Bright And Sunny, Has 1 Bedroom Plus Office/den, Large Living Room...

Lender Asked To List For Short Sale Process. No...

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$459,000 Contingent

  • 8 Beds
  • 3 Baths

Residential Income

5038 North Harding Avenue, Chicago, IL

MLS® #11055905

Lender Asked To List For Short Sale Process. Not Approved Yet. Cook County Shows Property Is 3 Units Each Is 3-bedrooms 1 Bath With Garden 2 Bedrooms 1 Bath. Hardwood Floors Finished Basement. 2-car Garage. Close To Public Transportation, School, Park, And Shops.

Location, Location, Location This 2 Unit Br...

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$450,000 Contingent

  • 7 Beds
  • 5 Baths
  • 0.09 Acres

Residential Income

2034 West Monroe Street, Chicago, IL

MLS® #11255835

Location, Location, Location This 2 Unit Brick Corner Piece Is A Diamond In The Rough With A Total Of 6 Bedrooms, 2 Full Baths In Units 1 And 2. Plus A Full Finish Basement With Half Bath. Needs Some Painting And Minor Repairs, Up Dates Needed In The Kitchen And Bathrooms. Minutes From Down...

Stop The Car!! Yes The Lot Here Is A True Doubl...

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$430,000 Contingent

  • 5 Beds
  • 3 Baths
  • 0.18 Acres
  • 2,320 ft²

Residential

5735 North Mango Avenue, Chicago, IL

MLS® #10648095

Stop The Car!! Yes The Lot Here Is A True Double Lot 63 Frontage And 123 Depth. This Property Is For You To Tear Down, Develope Or A Total/complete Rehab. Property Being Sold As Is And The Buyer Is Responsible For The Removal Of Everything In The Property And Garage. This Is An Estate. Value Is ...

Fantastic And Bright Condo. Great Open Floor Pl...

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$420,000 Active

  • 2 Beds
  • 2 Baths
  • 1,700 ft²

Residential

2052 North Lincoln Park Avenue W 801, Chicago, IL

MLS® #11278136

Fantastic And Bright Condo. Great Open Floor Plan Boasts Tons Of Character. Huge Living Space With Hardwood Floors Has Plenty Of Room For Living, Dining & Office And Is Flooded With Natural Light All Day Long. Easily Relax In Either Of The Large Bedrooms. Steps From Famous Restaurants, Lakeshore ...

Beautiful 2 Story 6 Bed 3 Bath Home On An Overs...

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$409,900 Active

  • 4 Beds
  • 3 Baths
  • 1,460 ft²

Residential

4415 North Saint Louis Avenue, Chicago, IL

MLS® #11305087

Beautiful 2 Story 6 Bed 3 Bath Home On An Oversized Lot In Albany Park. First Level Has 1 Bed, 1 Full Bath And An Amazing Custom Kitchen With Marble Floors, Stainless Appliances, Granite Counters, Built In Oven/microwave And An Island With Tons Of Storage. The Second Level Has 3 Beds, A Full Bath...

Spectacular Home In Canaryville. Beautiful Desi...

REDUCED 4% Photo of Listing #11261015
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$382,000 Active

  • 3 Beds
  • 3 Baths
  • 1,512 ft²

Residential

635 West 48th Street, Chicago, IL

MLS® #11261015

Spectacular Home In Canaryville. Beautiful Design With Spacious Rooms , Gleaming Hw Floors Thru-out. Kitchen Offers Granite Countertops, Ss Appliances, 42" Maple Cabinetry, Plus A Deck Off Of The Kitchen. Main Bath Has Jacuzzi & Marble Tile. Large Bedrooms With Plenty Of Closets. Basement Is...

What Happened Here, You Ask? Let Me Tell Ya. A ...

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$375,000 Contingent

  • 6 Beds
  • 3 Baths
  • 0.07 Acres

Residential Income

2640 North Springfield Avenue, Chicago, IL

MLS® #11245835

What Happened Here, You Ask? Let Me Tell Ya. A Big Ol' Mess. One Unit Is Currently Tenant-occupied And They're Current On Their Rent At $1200/month, So That's Good. But The Rest.. Well. Here's What I Know: Second Floor Unit Has Been Demo'ed As You Can See From The Photos. There Is A 3rd Floor "un...

Great Opportunity! One Unit Complete, One Unit...

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$345,000 Active

  • 4 Beds
  • 2 Baths

Residential Income

2034 North Lamon Avenue, Chicago, IL

MLS® #11282609

Great Opportunity! One Unit Complete, One Unit Partially Rehabbed In Need Of Completion. Nice Value Add Opportunity Plus The Possibility Of Adding A 3rd Basement Unit. Neither Seller Nor Listing Agent Make Any Assurances About The Legality Of A Basement Unit. Bring Offers For This Short Sale!

Great Location, +new Furnaces, +hardwood Floors...

REDUCED 4% Photo of Listing #11245793
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$345,000 Contingent

  • 6 Beds
  • 3 Baths

Residential Income

2146 North Hamlin Avenue, Chicago, IL

MLS® #11245793

Great Location, +new Furnaces, +hardwood Floors Underneath Laminate, +no Violations, +new Front Porch And Decking, +spacious Unfinished Attic, +full English Basement With High Enough Ceilings (at Least I Think They're High Enough, I Didn't Measure) To Create Additional Legal Living Space. Rs-3 Zo...

Elegant And Exclusive 3 Bedroom Converted To A ...

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$340,000 Contingent

  • 3 Beds
  • 2 Baths
  • 1,800 ft²

Residential

40 East Delaware Place 1002, Chicago, IL

MLS® #11262183

Elegant And Exclusive 3 Bedroom Converted To A 2 Bedroom With Massive Closet. Can Easily Be Converted Back. Huge Windows And An Open Floor Plan Allow For The Light To Pour Into The Living Areas. Enjoy A Chef's Kitchen With Sub-zero, Wolf, And Miele. Dining Room Complete With 140+wine Bottle Sub...

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 29th, 2022 at 7:24am CST.