$199,000

3 Beds   2 Baths   Single-Family
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S Calumet Ave Apt 1
Chicago, IL 60653

Status: Active
Listing ID: 57941169

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Potential Home Value

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Current Value
$199,000
Potential Value
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Public Records

Short Sale

Short sale properties represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value. Existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons.

First Steps to Buying a Short Sale

Short sales often present opportunities for real estate investors to purchase property at below market prices. A short sale occurs when the mortgage lender on a property agrees to give a release for less than the amount owed on the loan. This usually occurs when the loan on the property becomes delinquent and is headed toward foreclosure. An alert property owner who knows he is facing foreclosure is well advised to keep an open line of communication with his lender. And the lender is well advised to keep an open mind to the consequences of a loan default and the benefits of agreeing to a short sale. When the lender and property owner can agree on a short sale price, the owner can advertise that the property is a short sale and can list it accordingly. Such listings attract a lot of attention and can expedite the sale of the property.

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Rental Value

The estimated rental value for S Calumet Ave Apt 1 located in Chicago, IL is $1,420/month. Comparable homes around S Calumet Ave Apt 1 that are rentals have monthly ranges starting as low as $1,211 per month and as high as $1,630 per month. An owner looking to use this property as an investment could bring a return in the area of $1,211 - $1,630 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
05/25/22   Preforeclosure
03/18/22   Preforeclosure

Chicago, IL
Home Inspectors
Pentagon Inspections & Services, Inc
Jonathan Howard
3127249000
Keeshin Inspection Services
Stuart Keeshin
773-871-2356
Reliant Inspection Service Corp.
Fidel F. Gonzales
630-935-7170
True Blue Home Inspections, Inc.
James Clark
3129250166
Homes On This Street
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S Calumet Ave Apt 1
Chicago, IL 60653

3 Beds   2 Baths   Single-Family

$199,000

Status: Active Listing ID: 57941169

Property Information

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Public Records

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Property Description

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Listing URL

https://static.foreclosure.com/listing/address.html?address=S-Calumet-Ave-Apt-1-Chicago-IL-60653/57941169_lid

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