4 Beds   2 Baths   1,824 Sq. Ft.   Commercial

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S Muskegon Ave
Chicago, IL 60617

Status: Inactive
Listing ID: 56008153

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Property Information

  • Bedrooms: 4
  • Bathrooms: 2
  • Living Area Size: 1,824
  • Lot Size: 0.07 acres
  • Year Built: 1900
  • Source ID: 1850995
  • Parcel Number: 21312090150000
  • Property Type: Commercial
  • Plaintiff: Hsbc Bank Usa Trustee
  • Defendant Name: REASON LEE JR
  • Case Number: 20CH007502
  • Recording Date: 12-29-2020
  • Trustee Address: 2121 Waukegan Rd
  • Trustee City: Bannockburn
  • Trustee State: IL
  • Trustee Zip: 60015
  • Trustee Phone: (847) 291-1717
  • Deed Category: LP

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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.


    AVM Analysis

  • Valuation Estimate: $119,000

    Loan Information

  • 1st Mortgage Date: 11-17-2005

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Chicago, IL
Home Inspectors

Pentagon Inspections & Services, Inc
Jonathan Howard
Keeshin Inspection Services
Stuart Keeshin
Chicagoland Home Inspectors Inc
Charles Bellefontaine

S Muskegon Ave
Chicago, IL 60617

4 Beds   2 Baths   1,824 sq. ft.   Commercial


Status: Inactive Listing ID: 56008153

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