$269,594 EMV

3 Beds   2 Baths   1,329 Sq. Ft.   Single-Family
Get the Preforeclosure Address

S Busse Rd
Mount Prospect, IL 60056


This Single-Family is located at S Busse Rd, Mount Prospect, IL 60056. This listing is NOT an active listing. Updates to this listing have stopped. This listing may be off the market. No further information is available at this time. It has 3 Beds, 2 Baths , 1,329 sqft of living space.
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Status: Inactive
Listing ID: 60469286
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Learn about S Busse Rd in Mount Prospect, IL

This single-family property is available as a preforeclosure at S Busse Rd. It has 3 bedrooms, 2 bathrooms, and 1,329 square feet of living space. Based on our analysis of the current market conditions in Mount Prospect for S Busse Rd and comparable listings, the estimated market value is $269,594. If purchased for rental purposes, the monthly rental rate could range between $1,770 and $1,950. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at S Busse Rd are updated daily along with others in Mount Prospect, Illinois.

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Property Information

  • Bedrooms: 3
  • Bathrooms: 2
  • Living Area Size: 1,329
  • Lot Size: 0.17 acres
  • Year Built: 1970
  • Source ID: 145825902
  • Day(s) On Site: 305
  • Subdivision: ELK RIDGE VILLA UNIT 08
  • Parcel Number: 08-15-208-014
  • Property Type: Single Family Dwelling
  • Plaintiff: Specialized Loan Servicing LLC
  • Case Number: 23CH05713
  • Recording Date: 06-15-2023
  • Trustee Address: 1771 W Diehl Rd
  • Trustee City: Naperville
  • Trustee State: IL
  • Trustee Zip: 60563
  • Trustee Phone: (630) 453-6960
  • Deed Category: LP

Public Records

  • Baths: 2
  • Full Baths: 2
  • No. of Stories: 1
  • Air Conditioning: YES
  • Exterior Wall Type: FRAME
  • Roof Material: ASPHALT SHINGLE
  • Land Area Sqft: 7,320
  • Year Built: 1970
  • APN: 08-15-208-014-0000
  • Property Type: Single Family Residence
  • Living Sqft: 1,329
  • Basement Finish Type: RECREATION ROOM
  • Style: BUNGALOW
  • Subdivision: ELK RIDGE VILLA UNIT 08

Community & Neighborhood

This property in Mount Prospect, IL is located in the Elk Ridge Villa Unit 08 Subdivision.


The property located at S Busse Rd in Mount Prospect, IL is listed as a Preforeclosure

This listing located at S Busse Rd in Mount Prospect, IL could be available as a Rent-to-Own listing as well, additional diligence will be required from the buyer to determine if this listing can be approved as a RTO.

Please take note that this property in Mount Prospect, Illinois is not listed as a Rent-to-Own (RTO) opportunity. It is currently in an initial default stage in Mount Prospect, IL, commonly referred to as Pre-Foreclosure, indicating that the homeowner has missed at least one payment and is considered delinquent. However, instead of going through a potentially lengthy foreclosure process, which could take up to 18 months, the homeowner may be open to considering a Rent-to-Own option that covers their mortgage.

Since Pre-Foreclosure properties are not formally listed for sale, there is no asking price available. Instead, you’ll find either the original loan balance or an Estimated Market Value (EMV) provided. To make a reasonable offer for this home, it’s advisable to use either the loan balance or EMV amount in conjunction with local sale price comparables to determine an appropriate offer. Alternatively, the homeowner might be willing to work with you on a monthly amount that can help them avoid the foreclosure process.

You may also want to check with a real estate attorney or other legal authority to discuss the potential risks of executing a Rent-to-Own agreement with the current Pre-foreclosure owner. If the current owner in Mount Prospect, Illinois doesn't make their mortgage payments, they could lose the property which would directly affect you and your Rent-to-Own agreement.

For this reason, many buyers find a real estate investor or investment company to buy a Pre-Foreclosure property from the current owner. The investor/investment company could then offer you a Rent-to-Own agreement on that property that you worked out with them in advance, which could stabilize the investment and prevent complications.

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.


Loan Information

  • 1st Mortgage Date: 04-17-2003

Legal Information

Credit Information Center

County Information

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Rental Value

The estimated rental value for S Busse Rd located in Mount Prospect, IL is $1,860/month. Comparable homes around S Busse Rd that are rentals have monthly ranges starting as low as $1,770 per month and as high as $1,950 per month. An owner looking to use this property as an investment could bring a return in the area of $1,770 - $1,950 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.

Listing History

Start Date End Date Listing Type Bank Name
06/20/23 04/15/24 Preforeclosure SPECIALIZED LOAN SERVICING LLC

Similar Homes Nearby Mount Prospect, IL

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S Busse Rd
Mount Prospect, IL 60056

3 Beds   2 Baths   1,329 sq. ft.   Single-Family

$269,594 EMV

Status: Inactive Listing ID: 60469286

Property Information

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Public Records

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Property Description

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