BergProperties.com
  • Home
  • Advanced Search
  • Selling
  • Buying
  • For Sale By Owner
  • Foreclosures
  • About
  • Blog
  • Contact Us
    Login
    708-434-1165

    Sign in to your account

    Need to reset your phone number?

    Don't have an account with us?

    Click here to sign up.

    Foreclosure Search

    TO
    Advanced Search

    Receive Chicago Foreclosures Daily via Email

    Just click the sign up button on the right and once you set up a search we will set you up to receive properties the day they hit the market.

    Stages of Forclosure

    Pre-Foreclosure (short sale): There are some fantastic opportunities to purchase properties under market value prior to them going into foreclosure. A home owner that is headed into foreclosure may elect to sell the property prior to the bank or government forcing the issue.

    Sounds like a good idea but what happens if similar homes in the area are selling for $200,000 and the seller owes $275,000 to the bank to clear the mortgage? A short sale is where the home owner gets the bank to forgive part of the mortgage in order to enable the sale to go through. 

    Why would the bank do this? It costs them a lot of money to sell a home through the foreclosure process. If they believe that the homeowner will default on the mortgage anyway and it makes financial sense the bank will proceed with a short sale. We can help you navigate this process. If you have questions please call us at 708-434-1165.

    Auction: The next stage of a foreclosure is an auction. The bank does not own the property but it is forcing the property to be sold so that it can recoup some of the money that they are owed. There are some additional challenges to buying real estate this way. 

    The first is that here in the Chicago land area they require 25% of the total purchase price at the auction followed by the rest within 72 hours (or something close to this).  So really you need cash to buy these homes. 

    The second issue is that the buyer is responsible for all liens (past taxes, mechanics liens, code violations, etc) associated with the property whether they are disclosed or not.  Additionally and more importantly if the property is occupied then the responsibility to evict lies with the new owner.  Because of the way the laws are written this process can take a year or longer in cases when the squatter knows how to plays the eviction game in court to his or her advantage.

    Foreclosure (bank owned, REO): If the property does not sell at auction then the bank takes possession.  They evict anyone living in the property. They clean up outstanding liens and they put the home on the market looking to sell it quickly (30-45 days). The bank does not want to be a landlord.  They want to unload the home so they price it to sell. Of the 3 stages I have listed this is probably the easiest one for the average buyer to complete a purchase.

    411 W Ontario Street Unit #612, Chicago image
    411 W Ontario Street Unit #612, Chicago $449,000

    Welcome to Ontario Street Lofts - your perfect urban oasis! 2BD/2BA with Heated Garage Parking INLCUDED! Enjoy all the convenience of city living with all the comforts of...

    board logo
    • 2 Beds
    • 2 Baths
    • MRD11706462 MLS
    • NEW Status
    board logo
    5203-05 S Wabash Avenue, Chicago image
    5203-05 S Wabash Avenue, Chicago $1,848,000

    7.4 CAP RATE Perfect Turn key, Future 1031 opportunity. Property is in process of lease up from $2450 to $2650 min credit score, 3 times income and past landlord history...

    board logo
    • MRD11708953 MLS
    • NEW Status
    board logo
    4225 W Jackson Boulevard, Chicago image
    4225 W Jackson Boulevard, Chicago $289,900

    Welcome to West Garfield Park!!! Would you look at this 2 Unit, income producing property which is also a historic Chicago Greystone. This is perfect for an Investor or t...

    board logo
    • 8 Beds
    • 2 Baths
    • MRD11708952 MLS
    • NEW Status
    board logo
    1651 W Pratt Boulevard Unit #AG, Chicago image
    1651 W Pratt Boulevard Unit #AG, Chicago — Pratt Boulevard Place $169,900

    This Lovely Garden Level Large 2 Bedroom/1 Bathroom features Exposed Brick Walls, High Ceilings, In-Unit Laundry, Central Air Conditioning, and a Gas Fireplace. UPDATES!...

    board logo
    • 2 Beds
    • 1 Baths
    • MRD11708951 MLS
    • NEW Status
    • Pratt Boulevard Place Bldg.
    board logo
    4457 W Walton Street, Chicago image
    4457 W Walton Street, Chicago $40,000

    WEST HUMBOLDT PARK -- Vacant residential corner lot for sale can be purchased with adjacent lot at 4459 W Walton (2 separate PINs). Zoned RS-3 allowing for the construct...

    board logo
    • MRD11708948 MLS
    • NEW Status
    board logo
    4459 W Walton Street, Chicago image
    4459 W Walton Street, Chicago $50,000

    WEST HUMBOLDT PARK -- Vacant residential corner lot for sale can be purchased with adjacent lot at 4457 W Walton (2 separate PINs). Zoned RS-3 allowing for the construct...

    board logo
    • MRD11708945 MLS
    • NEW Status
    board logo
    1441 W Fry Street Unit #2S, Chicago image
    1441 W Fry Street Unit #2S, Chicago $299,000

    Open concept 2 Bedroom 1 bath in Hot Noble Square/West Town location. Hardwood floors throughout, soaring ceilings, light and bright unit featuring a chef's kitchen with ...

    board logo
    • 2 Beds
    • 1 Baths
    • MRD11708928 MLS
    • NEW Status
    board logo
    1511 N Bell Avenue, Chicago image
    1511 N Bell Avenue, Chicago $1,007,500

    Heart of Wicker Park Location. Location, Location resonates throughout this beautiful Victorian Red Brick multi unit home that sits on a double lot. This one of a kind p...

    board logo
    • 5 Beds
    • 3 Baths
    • MRD11708923 MLS
    • NEW Status
    board logo
    2640 W 23Rd Place, Chicago image
    2640 W 23Rd Place, Chicago $489,000

    FULL & TRUE Gut Rehabb Down to the Studs. Condo quality, 2-Unit Building. Each Unit features 2 bed/ 1 bath units, with Modern Kitchens and tasteful bathrooms. Including ...

    board logo
    • 4 Beds
    • 2 Baths
    • MRD11708902 MLS
    • NEW Status
    board logo
    8728 S Buffalo Avenue, Chicago image
    8728 S Buffalo Avenue, Chicago $135,900

    Come and see this amazing find. Bungalow Beauty that has so much space, that you would not think so from the outside. This property has 4 bedrooms and 1 bath with a bon...

    board logo
    • 4 Beds
    • 1 Baths
    • MRD11708895 MLS
    • NEW Status
    board logo
    2615 W Foster Avenue Unit #201, Chicago image
    2615 W Foster Avenue Unit #201, Chicago $209,900

    2 Bed 2 Bath Condo with a private balcony at a great location. SUPER LOW HOA! Only 1 block away from top-rated Budlong Elementary School. This condo features a large livi...

    board logo
    • 2 Beds
    • 2 Baths
    • MRD11708894 MLS
    • NEW Status
    board logo
    480 N Mcclurg Court Unit #P-311, Chicago image
    480 N Mcclurg Court Unit #P-311, Chicago $32,000

    PARKING AT CITYVIEW USUALLY NOT AVAILABLE! THERE ARE 421 UNITS AND ONLY 334 PARKING SPACES. GREAT FLAT SPACE, VERY CLOSE TO THE ENTRANCE/EXIT - EASY IN - EASY OUT! Great ...

    board logo
    • MRD11708892 MLS
    • NEW Status
    board logo
    480 N Mcclurg Court Unit #P-276, Chicago image
    480 N Mcclurg Court Unit #P-276, Chicago $32,000

    PARKING AT CITYVIEW USUALLY NOT AVAILABLE! THERE ARE 421 UNITS AND ONLY 334 PARKING SPACES. GREAT SPACE! VERY CLOSE TO THE ENTRANCE/EXIT - EASY IN - EASY OUT! Great to b...

    board logo
    • MRD11708890 MLS
    • NEW Status
    board logo
    1255 N Sandburg Terrace Unit #1801, Chicago image
    1255 N Sandburg Terrace Unit #1801, Chicago — Eliot House $286,000 ▲

    Converted Junior 2 Bedroom and 1 Bathroom Condo with A Large East Facing Balcony, Brazilian cherry hardwood floor thru-out the unit, gourmet kitchen w/42" euro cabinets, ...

    board logo
    • 2 Beds
    • 1 Baths
    • MRD11708889 MLS
    • PRICE CHANGE Status
    • Eliot House Bldg.
    board logo
    4624 N Commons Drive Unit #307, Chicago image
    4624 N Commons Drive Unit #307, Chicago — Pueblo Commons $190,000

    Indoor garage parking. Extra large bedrooms including master suite with private bath. Great layout spacious unit condo in elevator building. Granite counter top, maple ca...

    board logo
    • 2 Beds
    • 2 Baths
    • MRD11708885 MLS
    • NEW Status
    • Pueblo Commons Bldg.
    board logo



    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 our company are marked with the MRED Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (the MRED logo) 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 accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. 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.

    Copyright 2023 MRED LLC. All rights reserved.

    Based on information submitted to the MRED as of . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the DMCA) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@theMLSGRID.com.

    The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

    Like or Share
    Loading likes...

    Address Search

    Lincoln Park

    • 1155 W Armitage Ave
    • 2512 N Bosworth Ave
    • 1850 N Clark St
    • 1920 N Clark St
    • 1872 N Clybourn Ave
    • 2309 N Commonwealth
    • 615 W Deming Pl
    • 600 W Drummond Pl
    • 345 W Fullerton Pky
    • 399 W Fullerton Pky
    • 900 W Fullerton Ave
    • 2700 N Hampden Ct
    • 2728 N Hampden Ct
    • 1660 N Hudson Ave
    • 1660 N La Salle St
    • 2400 N Lakeview Ave
    • 2500 N Lakeview Ave
    • 2626 N Lakeview Ave
    • 2650 N Lakeview Ave
    • 1960 N Lincoln Park West
    • 2020 N Lincoln Park West
    • 2100 N Lincoln Park West
    • 2144 N Lincoln Park West
    • 2740 N Pine Grove Ave
    • 2600 N Southport Ave
    • 1636 N Wells St
    • 1749 N Wells St

    South Loop

    • 125 E 13th Street
    • 1305 S Michigan
    • 1307 S Wabash
    • 1440 S Michigan
    • 1516 S Wabash
    • 1529 S State
    • 1601 S Indiana
    • 1601 S Michigan
    • 1632 S Indiana
    • 1717 S Prairie
    • 1819 S Michigan
    • 1900 S State
    • 2001 S Calumet
    • 212 E Cullerton
    • 221 E Cullerton
    • 5 E 14th Place
    • 61 W 15th
    • 1201 Prairie
    • 1322 S Prairie
    • 1335 S Prairie
    • 233 E 13th
    • 1235 S Prairie
    • 1841-1901 S Calumet
    • 1347 S Michigan
    • 1629 S Prairie
    • 1211 S Prairie
    • 1250 S Indiana

    Loop

    • 155 N Harbor Drive
    • 161 W Harrison St
    • 195 N Harbor Drive
    • 20 N State St
    • 201 N Westshore Drive
    • 208 W Washington St
    • 212 W Washington St
    • 360 E Randolph St
    • 40 E 9th St
    • 400 E Randolph St
    • 41 E 8th St
    • 431 S Dearborn St
    • 600 S Dearborn St
    • 633 S Plymouth Ct
    • 701 S Wells St
    • 71 E Wacker Drive
    • 800 S Wells St
    • 801 S Plymouth Ct
    • 910 S Michigan Ave

    Gold Coast

    • 1212 N Lake Shore Drive
    • 1100 N Lake Shore Drive
    • 1300 N Lake Shore Drive
    • 100 E Bellevue Pl
    • 1550 N Lake Shore Drive
    • 111 W Maple St
    • 1 E Scott St
    • 21 w Goethe St
    • 1440 N Lake Shore Drive
    • 1122 N Clark St
    • 2 E Oak St
    • 33 E Delaware Pl
    • 1221 N Dearborn St
    • 71 E Division St
    • 1339 N Dearborn St
    • 40 E Cedar St
    • 1415 N Dearborn St
    • 1212 N La Salle St
    • 1150 N Lake Shore Drive
    • 1250 N Dearborn St
    • 1516 N State St
    • 1400 N Lake Shore Drive
    • 1450 N Astor St
    • 50 E Bellevue Pl
    • 1 E Schiller St
  • Home
  • Property Search
  • Foreclosures
  • About Us
  • Real Estate News
  • Contact Us
  • Oak Park
  • Riverside
  • Hinsdale
  • River Forest
  • IDX Real Estate Websites by
    • Accessibility • Terms • Privacy