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 $800,000 - $900,000 Over $1,000,000
109 Properties Found. Page 1 of 10

$3,000,000 Reduction. Accepting Offers & Sh...

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...

Short Sale. City Home Featuring Huge Gourmet K...

REDUCED 18% Photo of Listing #10032111
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$1,800,000 Active

  • 4 Beds
  • Baths
  • 0.06 Acres

Residential

N/A, Chicago, IL

MLS® #10032111

Short Sale. City Home Featuring Huge Gourmet Ktch With Wolfe Appl, Mohogony Cabinetry, Granite Tops, Sep Lr & Dr, Office/projection Room, Beautiful Mstr Ste, Heated Floor In All Bth, 4 Private Terraces, 2 Car Garage, With Elevator.

One Of A Kind Condo In Lucien Lagrange-designed...

REDUCED 8% Photo of Listing #10030271
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$1,100,000 Active

  • 4 Beds
  • Baths
  • 2,800 ft²

Residential

653 North Kingsbury Street #1801, Chicago, IL

MLS® #10030271

One Of A Kind Condo In Lucien Lagrange-designed Building In River North. 2800sf 4bd/4.1ba Lives Like A Single-family Dwelling. This Unique Home Features Floor-to-ceiling Windows, Polished Concrete Floors, 3 Balconies & Abundant Storage. Desirable Split Floorplan W/bedrooms Separated From The...

Best Deal In Gold Coast! Unobstructed Lake View...

REDUCED 5% Photo of Listing #10077778
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$850,000 Active

  • 3 Beds
  • Baths
  • 3,400 ft²

Residential

1515 North Astor Street #21a, Chicago, IL

MLS® #10077778

Best Deal In Gold Coast! Unobstructed Lake Views Unit Faces Both East And West. High Floor Sought After Astor St. This Unique Duplex Was 2 Condos Combined Into One Amazing Home. Many Upgrades But Will Need Updates. Kitchen Is Chef Ready With Custom European Style Cabinetry And Built In Pantries, ...

5 Bedroom Residential Property in Chicago, IL

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$825,000 Active

  • 5 Beds
  • 0.06 Acres

Residential

1538 West Fry Street, Chicago, IL

MLS® #10072456

Great Vacant Lot On Busy North Ave (route 64). ...

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$750,000 Active

  • 2.5 Acres

Lot / Land

27w046 North Avenue, West Chicago, IL

MLS® #10065672

Great Vacant Lot On Busy North Ave (route 64). Surrounded By Well Established Businesses Near The Corner Of County Line Rd And North Ave. Many Options For Possible Development Include Strip Mall Or Office / Retail Building. Traffic Count Of Over 78,000+. Outstanding Regional Demographics, Close T...

This Beautiful Brick 2 Story Home Is Has 4 Bedr...

REDUCED 2% Photo of Listing #09967954
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$609,000 Active

  • 4 Beds
  • Baths
  • 0.12 Acres

Residential

7813 West Seminole Street, Chicago, IL

MLS® #09967954

This Beautiful Brick 2 Story Home Is Has 4 Bedrooms And 3.1 Baths. Conveniently Located. Updates Include Kitchen, Counter Tops, Hardwood Floors, Deck, Windows And Much Much More! Pursuant To Short Sale

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

REDUCED 2% Photo of Listing #09913237
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$585,000 Contingent

  • 3 Beds
  • Baths
  • 2,142 ft²

Residential

1459 West Sunnyside Avenue, Chicago, IL

MLS® #09913237

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...

5 Bedroom Residential Property in Chicago, IL

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$499,000 Contingent

  • 5 Beds
  • 3 Baths

Residential

2520 West Haddon Avenue, Chicago, IL

MLS® #09769867

Fantastic All Brick 2 Flat In The Desirable Ros...

NEW Photo of Listing #10135013
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$489,900 New

  • 6 Beds
  • 0.11 Acres

Residential

5818 North Fairfield Avenue, Chicago, IL

MLS® #10135013

Fantastic All Brick 2 Flat In The Desirable Rosehill Section Of West Ridge! You Won't Find Many Like This One In The Area!

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 November 12th, 2018 at 4:22pm CST.