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S LUELLA AVE , Chicago, IL 60617
Foreclosure
3 2
Built in 1895
N STATE PKWY , Chicago, IL 60610
Foreclosure
1 2
Built in 1974
S RHODES AVE , Chicago, IL 60619
Sold
$222,800
EMV
Pre-Foreclosure
3 2
Built in 1920
S MANISTEE AVE , Chicago, IL 60617
Foreclosure
5 3
Built in 1916
S PRAIRIE AVE , Chicago, IL 60628
Foreclosure
3 2
Built in 1954
S WENTWORTH AVE , Chicago, IL 60628
Foreclosure
3 2
Built in 1926
W 88TH ST , Chicago, IL 60620
Sold
$163,300
EMV
Pre-Foreclosure
3 1
Built in 1957
S MARQUETTE AVE , Chicago, IL 60617
Sold
$120,055
EMV
Pre-Foreclosure
3 2
Built in 1928
S ARTESIAN AVE , Chicago, IL 60652
Foreclosure
4 2
Built in 1952
S COLFAX AVE , Chicago, IL 60649
Sold
$120,000
EMV
Pre-Foreclosure
3 1
Built in 1910
W 78TH PL , Chicago, IL 60652
Sold
$218,100
EMV
Pre-Foreclosure
3 1
Built in 1950
S LOOMIS ST , Chicago, IL 60643
Sold
$158,100
EMV
Pre-Foreclosure
3 1
Built in 1961
E 107TH ST , Chicago, IL 60628
Sold
$215,000
EMV
Pre-Foreclosure
7 4
Built in 1920
N FRANCISCO AVE , Chicago, IL 60618
Foreclosure
3 2
Built in 1909
N ASTOR ST , Chicago, IL 60610
Sold
$417,900
EMV
Pre-Foreclosure
2 2
Built in 1892
N ASTOR ST , Chicago, IL 60610
Sold
$403,000
EMV
Pre-Foreclosure
2 2
Built in 1892
S HOYNE AVE , Chicago, IL 60643
Sold
$375,800
EMV
Pre-Foreclosure
4 2
Built in 1893
N BELL AVE , Chicago, IL 60618
Sold
$767,300
EMV
Pre-Foreclosure
4 2
Built in 1910
S BELL AVE , Chicago, IL 60643
Foreclosure
5 4.5
Built in 1936
S ABERDEEN ST , Chicago, IL 60621
Foreclosure
6 2
Built in 1895

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Latest Mortgage Rates

Mortgage Type Last Week Today Change
15 Year Fixed Mortgage 3.86% 3.75%
Down
-0.028%
30 Year Fixed Mortgage 4.01% 3.94%
Down
-0.017%
5/1 Year ARM 4% 3.99%
Down
-0.002%
15 Year Fixed Mortgage 3.86% 3.75%
Down
-0.028%
5/1 Year ARM 4% 3.99%
Down
-0.002%

Hot Foreclosure Homes in Chicago, IL

Foreclosure Home in Chicago, IL, 60628,  W 108TH PL ID: P2050103
Cook County, Chicago, IL 60628
$47,760
IL - 60628
5 1
Foreclosure Home in Chicago, IL, 60621,  S MAY ST ID: P2054886
Cook County, Chicago, IL 60621
$50,610
IL - 60621
3 1
Foreclosure Home in Chicago, IL, 60617,  S MERRION AVE ID: P2050084
Cook County, Chicago, IL 60617
$77,400
IL - 60617
3 1
Foreclosure Home in Chicago, IL, 60620,  S MAY ST ID: P2050128
Cook County, Chicago, IL 60620
$80,000
IL - 60620
4 1
Foreclosure Home in Chicago, IL, 60617,  S CONSTANCE AVE ID: P2050233
Cook County, Chicago, IL 60617
$99,000
IL - 60617
2 1
ForeclosureDeals.com About Our Listings

Buy Foreclosure Houses, Apartments & Condos in Chicago

ForeclosureDeals offers a solid database of Chicago bank owned foreclosure homes and Chicago government foreclosed homes for sale from federal agencies such as: HUD, VA, FHA, Freddie Mac, Fannie Mae, USDA. These Chicago repossessed homes can be found in a number of ways, such as pre foreclosures, short sales, foreclosure auctions, flipping homes, bankruptcies and home foreclosures for sale in Chicago, IL. Our up-to-date real estate foreclosure listings in Chicago offers cheap distressed properties for buying & investing, in a great variety of properties like commercial & residential, multi & single family homes, lands, condos and apartment foreclosures in Chicago area.

About Foreclosed Homes in Chicago, IL

The windy city offers stunning nightlife, a hip downtown and a diverse urban culture. Real estate in Chicago itself is dominated by commercial buildings, apartments, condos and lofts, all offering luxurious amenities and accommodations including convenient locations to corporate offices and mass transit. In Chicago's suburbs, single and multi family homes are abundant, many frequently for sale at a fairly cheap asking price. Foreclosures here offer a tremendous opportunity for investing in homes which can be purchased at an extremely reasonable rate. Whether you are looking for an opportunity to invest or live in Hyde Park, Lincoln Park or Roscoe Village, Chicago has something for you. Take advantage of these opportunities and start searching for foreclosed homes for sale in Chicago, IL now!

Real Estate in Chicago, the Windy City

Chicago City

Investors are flocking to select cities in the United States to take advantage of incredible domestic real estate opportunities. One of the most advantageous cities in the country for real estate investing is Chicago, Illinois - the Windy City.

Boasting the third-largest metro area in the country, Chicago is a major domestic and global hub for telecommunication, transportation, and industry. O'Hare International Airport is the third-busiest airport in the world, and the city is one of the world's top ten Global Financial Centers for business and finance. The deep, storied tradition behind Chicago and its vibrant culture also make it one of the most desirable big cities for real estate - even with one of the highest metro foreclosure rates in the country.

Prime Real Estate Areas

Foreclosures have hit Chicago as hard as any other city and harder than most, but there are plenty of areas that are prime areas for investors looking for stable prices and easy sales.

These areas feature stable prices, relatively-low crime rates, high standards of living, and a relatively-low incidence of foreclosures. Such areas include Beverly, Gold Coast, Lakeview, Lincoln Park, Lower West Side, and Old Town.

Median Home Prices

Chicago IL City

The median listing price for all homes in Chicago is $209,500, which is 11.9% lower than its previous level. This varies drastically from neighborhood to neighborhood; the most expensive real estate in the city, located in high-end Lincoln Park, has an average listing price of $921,248 and a median sales price of $344,000. This last figure has increased by 5.3% year-over-year.

The low end of the scale - South Deering - reported an average listing price of $49,486 and a median sales price of $59,000 - a decrease of 4.1%.

Areas significantly impacted by foreclosures include Belmont Cragin, Calumet Heights, Humboldt Park, Fuller Park, New City, South Chicago, and South Deering. These neighborhoods are predominantly composed of low-value housing with high foreclosure rates, creating plenty of opportunities for cheap properties (although some with significant rehabilitation costs).

Key Areas in the City

In each city, there are key areas that are in high demand by investors and homeowners alike. Price is a factor, but there are other factors, such as:

  • Low crime rates
  • An abundance of amenities
  • Stable prices
  • Desirable location and distance from downtown

Some of the most in-demand areas and neighborhoods in and around Chicago, according to these factors, include Beverly, Financial District, Gold Coast, Lakeview, Lincoln Park, West Town and Wicker Park. Lakeview in particular is home of Wrigley Field, the home of Major League Baseball's Chicago Cubs, and features a wealth of cultural and social opportunities and amenities. West Town is one of the fastest-growing neighborhoods in the city with a diverse population, safe reputation, and a wealth of amenities and entertainment.

Illinois's Foreclosure Process

The foreclosure process in Illinois is something that should be studied by investors before attempting foreclosure investing in the state. Illinois has a judicial foreclosure process, which means foreclosures go through the court system. Lenders send a notice of intent to sue (lis pendens) to the borrower; a court hearing is then established and the case is argued. Property owners have 90 days from the issue of the complaint to resolve the owed amount. The average time for Illinois home foreclosures is approximately one year from the beginning of the complaint.

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