Many associate Chicago foreclosures for sale with low-end housing in neighborhoods slightly less desirable than say, the Gold Coast for example. But in a market as large as Chicago, foreclosures are listed at all kinds of price points, of which include a number of luxury properties.
Two Chicago foreclosures for sale are currently priced over $1 million: a beautiful single-family home in Lakeview and an equally impressive townhome in the heart of River North. Other great opportunities on luxury foreclosures in downtown Chicago include a 2 bedroom, 2 ½ bath at 680 N. Lake Shore Drive; a roomy 2 bedroom, 2 bathroom at 345 N. LaSalle; and a 2 bedroom, 2 bathroom condo at 222 N. Columbus with a unique layout and a ton of potential.
If you’ve never purchased a Chicago foreclosure however, it’s important to do your due diligence before even making an offer. Always do a thorough inspection of the home or condo, and always be prepared to work closely with a bank or lender, as they will be the primary seller of the home. In addition, most all foreclosures are sold “as-is,” which is why a proper and comprehensive inspection is such a key factor during these transactions.
If you're interested in learning more about luxury Chicago foreclosures for sale, or just want to see what's currently on the market, take a closer look at the active MLS listings featured below & call us today for more information!
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