Foreclosures in Illinois: Illinois Foreclosures by County, City, or Zip
Illinois is the fifth most populous state in the U.S. and ranks 12th in population density. Most of the IL residents can be found in metro Chicago, where nearly 65% of the state's population is housed. Smaller cities and rural areas abound throughout the state, though most real estate for sale, foreclosed homes, financially distressed property and investment homes can be found in the Chicago area. The state's Interior Plains cities of Rockford and Aurora, central-state cities such as Peoria and Springfield and southern areas near St. Louis, Bloomington and Champaign all offer attractive home buying options if you take time to research the variety of available foreclosure, bank auction and government owned real estate listings .
While the total number of available IL foreclosures changes on a daily basis, it is not uncommon to see over 74,877 available foreclosed IL homes to choose from on average. Given Chicago's status as third most populous city in the country, it offers Illinois' largest quantity (over 18,000 properties) and broad variety of low cost housing options in the form of bank REO, home auctions, pre-foreclosures, short sales, tax liens and more. On a county wide basis, Chicago's Cook county showed 37,633 foreclosed homes. Foreclosures in Will county, Du Page county, Kane county and Lake county contribute to the on-going inventory of Illinois bargain real estate.
Thanks to Illinois' agricultural production, natural resource diversity, physical location, and Chicago's role as a regional cultural center and transportation hub, it is expected to remain an important locale for real estate buyers and foreclosure investors for years to come. HUD homes, tax sales, home auctions and even owner financed home purchases are good investments to consider when looking for discount IL real estate.