2 Baths   2,176 Sq. Ft.   Multi-Family

4423 W Congress Pkwy, Chicago, IL 60624

Status: Inactive
Listing ID: 24924849

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Property Information

  • Bathrooms: 2
  • Living Area Size: 2,176
  • Lot Size: 3125
  • Year Built: 1900
  • Source ID: 5645849
  • Estimated Value: $137,615
  • Day(s) On Site: 4101
  • Improvement Value: $19,539
  • Assessed Value: $24,663
  • Land Value: $5,124
  • Parcel Number: 16-15-132-014-0000
  • Property Type: Multi Family Dwelling
  • Plaintiff: CHICAGO TITLE LAND TRUST COMPANY
  • Defendant Name: WILLIAMS JESSE
  • Recording Date: 09-29-2010
  • Deed Category: LP
  • Document Number: 1027241130

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Preforeclosure

Often, the preforeclosure period is the best time to purchase a property. The process begins when a lender first notifies a borrower that his or her loan payments are behind. If a borrower has no other means to bring the payments up to date, he or she is far better served to sell the property as soon as possible before it falls into foreclosure.

First Steps to Buying a Preforeclosure

Preforeclosure status means the owner of the property has defaulted on his mortgage obligation and the lender is taking steps to foreclose on the loan and take possession of the property. This situation places the property owner and the lender in a disadvantaged position. But it may not be too late for the property owner to work things out with his lender.  At the same time the lender may be interested in allowing a short sale (sale of the property for less than the amount owed) just to avoid the costly process of foreclosure on the loan, and then the expense of marketing the property. That leaves open the opportunity for a real estate investor to come in and solve the problem for both parties.

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W Congress Pkwy
Chicago, IL 60624

2 Baths   2,176 sq. ft.   Multi-Family

Active 

Status: Inactive Listing ID: 24924849

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