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
103 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...

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

Tremendous Opportunity! Spacious, Light-filled ...

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$729,000 Active

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

Residential

911 West Addison Street, Chicago, IL

MLS® #10538626

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...

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

REDUCED 1% Photo of Listing #10415525
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$720,000 Re-activated

  • 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...

Stunning Duplex Penthouse With An Abundance Of ...

REDUCED 36% Photo of Listing #10361544
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$700,000 Contingent

  • 3 Beds
  • Baths
  • 2,400 ft²

Residential

1301 West Madison Street #522, Chicago, IL

MLS® #10361544

Stunning Duplex Penthouse With An Abundance Of Natural Light. This Unit Features Towering Ceilings, City Skyline View, Spacious Open Floor Plan, Granite Throughout, Upgraded Wood Flooring And Is Complimented With Floor To Ceiling Windows. Ss Appliances Surrounding Granite Kitchen Island. Gleaming...

Attention Investors/ Rehabbers! The Lower Leve...

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$549,900 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!

All Brick 3 Unit Building On Quiet Street. All ...

REDUCED 5% Photo of Listing #10333815
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$549,900 Active

  • 6 Beds
  • 3 Baths

Residential

2633 West Potomac Avenue, Chicago, IL

MLS® #10333815

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.

Well Kept 3 Unit With Full Finished Basement. 2...

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$510,000 Contingent

  • 6 Beds
  • 3 Baths

Residential

6520 North Mozart Street, Chicago, IL

MLS® #10447786

Well Kept 3 Unit With Full Finished Basement. 2 Car Garage. All 2 Bedroom Apartments With Possible Extra Room In Enclosed Porch. Renters Are Month To Month With No Leases - Short Sale. Room Sizes Are Estimated. Listed Price Is Pre-approved With Short Sale Lender

Motivated Seller! Enjoy This Flowing And Spacio...

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$499,000 Contingent

  • 4 Beds
  • Baths
  • 0.07 Acres
  • 3,800 ft²

Residential

3821 North Kilpatrick Avenue, Chicago, IL

MLS® #10516020

Motivated Seller! Enjoy This Flowing And Spacious Floor Plan And Soaring Ceilings In This 4 Bed / 3.1 Bath, 3,800 Sf, Newer Construction, Single Family Home In The Highly-desirable Old Irving Park Area. This Home Boasts A Spacious Rooftop Deck With Pergola And Connected Rear Deck Off Of The Livin...

Classic, Split 2 Bedroom/2 Bath In The Heart Of...

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$475,000 Active

  • 2 Beds
  • 2 Baths

Residential

1001 West Madison Street #208, Chicago, IL

MLS® #10540533

Classic, Split 2 Bedroom/2 Bath In The Heart Of West Loop (starbuck's Building)! This Home Offers: Newer Wide-plank, Dark Hardwood Floors, Large Kitchen With 42" Medium Stain Cherry Cabinets, Stainless Steel Appliances, Kitchen Island With Breakfast Bar & Wine Storage. Large Living/dining Room Co...

Thanks To Oversized Windows And Southern Exposu...

NEW Photo of Listing #10548570
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$455,000 New

  • 4 Beds
  • Baths
  • 2,800 ft²

Residential

822 East Pershing Road, Chicago, IL

MLS® #10548570

Thanks To Oversized Windows And Southern Exposure This 2006 Rowhouse Is Bright And Light Filled. Tall Ceilings On Each Level Create Volume. Your View Is Beautiful Mandrake Park Across A Lush Boulevard. The First Floor Has A Defined Living/dining Room And An Open Kitchen To The Family Room With An...

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 October 18th, 2019 at 1:20am CDT.