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
$700,000 - $800,000 Over $1,000,000
106 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...

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.

Incredible Opportunity To Own An East Lincoln P...

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$1,599,000 Contingent

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

Residential

2018 North Orleans Street, Chicago, IL

MLS® #10379280

Incredible Opportunity To Own An East Lincoln Park Home At A Significant Discount! Steps From The Park, This Home Encompasses Vintage Charm With Modern Improvements. Spectacular Custom Finishes Throughout Include Preserved Original Pocket Doors And Millwork, Built-ins, Wall Coverings, Light Fixtu...

6 Bedroom Residential Property in Chicago, IL

REDUCED 7% Photo of Listing #10349316
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$1,295,000 Contingent

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

Residential

1143 West Montana Street, Chicago, IL

MLS® #10349316

Extra Wide Hartland Park Townhouse 4 Beds/4.5 B...

REDUCED 1% Photo of Listing #10415525
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$755,000 Active

  • 4 Beds
  • Baths
  • 3,362 ft²

Residential

2640 North Hermitage Avenue, Chicago, IL

MLS® #10415525

Extra Wide Hartland Park Townhouse 4 Beds/4.5 Baths Feature 13 Ft Ceilings, Bay Windows & Surround Sound. One Of The Largest Floorplans In The Neighborhood. Eat-in Kitchen Featuring 42" Custom Maple Cabinets, Granite Backsplash & Island, Beverage Fridge & Pantry. Spacious Balcony Off Kitchen Perf...

7 Bedroom Residential Property in Chicago, IL

NEW Photo of Listing #10449278
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$699,000 New

  • 7 Beds

Residential

2441 North Harding Avenue, Chicago, IL

MLS® #10449278

Three Flat Building In Avondale Area

A Tasteful Victorian Home In The Heart Of Raven...

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$599,900 Active

  • 3 Beds
  • Baths
  • 0.06 Acres
  • 2,142 ft²

Residential

1459 West Sunnyside Avenue, Chicago, IL

MLS® #10348435

A Tasteful Victorian Home In The Heart Of Ravenswood. The Classic Exterior Home Invites You Inside To A Modern And Desirable Floor Plan. Featuring An Updated & Open Kitchen With 42'' Cabinets, Granite Counters & Stainless Steel Appliances, It Is Great For Entertaining. Upstairs Features 3 Large B...

Parkshore On The Lake-views Of The Lake, Park A...

REDUCED 11% Photo of Listing #10384642
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$589,000 Contingent

  • 2 Beds
  • Baths

Residential

195 North Harbor Drive #502, Chicago, IL

MLS® #10384642

Parkshore On The Lake-views Of The Lake, Park And City From Floor To Ceiling Bay Windows. Combination Living Room/dining Room With 2 Bedrooms, 2.5 Baths, In Unit Washer And Dryer. Needs Some Tlc, But Good Potential. Full Amenity Building Has 24 Hour Doorman, Rooftop Pool, Sun Deck, Jacuzzi, 2 ...

Enjoy Every Sunset From This Penthouse Condo Wi...

REDUCED 10% Photo of Listing #10397876
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$540,000 Contingent

  • 3 Beds
  • Baths
  • 1,834 ft²

Residential

3140 North Sheffield Avenue #709, Chicago, IL

MLS® #10397876

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...

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

REDUCED 5% Photo of Listing #10380965
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$500,000 Price Change

  • 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 Sale. May Require 1-90 Days To Get Bank Approval. Boutique Elevator Building Provides Access Right At Your Door. Super Quiet Building Brick & Concrete Between Floors. Newly Refinished Oak ...

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 July 17th, 2019 at 1:35am CDT.