Just a few years ago, short sales were a major part of the real estate landscape here in Chicago as homeowners all over the city were looking for creative ways to get out from a mortgage that exceeded the property’s actual market-value. Thankfully, the market has improved significantly over the last 12-18 months and short sales aren’t quite as common during the real estate downturn that began all the way back in 2008.
Despite the turnaround however, short sales are still an incredible way to save money on a new Chicago home or condo, and depending on where you look, plenty of fabulous short sale options are still available in neighborhoods all over the city.
If you’re looking for an area of Chicago with a large inventory of short sales, the South Loop may offer the most variety in terms of property-types and price ranges, with nearly 20 condos currently on the market that range from one-to-three bedrooms and between $100,000 and $300,000. And much like with any South Loop property for sale, South Loop short sales offer buyers all kinds of advantages—just some of which include a close proximity to The Loop, plenty of public transportation, and of course lots of outdoor amenities like Grant Park and the beautiful Chicago lakefront.
To take a closer look at South Loop short sales for sale, browse the available home listings below and give us a call today at (312) 280-9600 to schedule a private showing of a home you’d like to see in person!
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