$221,850 EMV

2 Beds   1 Bath   Condo
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W Grace St # G
Chicago, IL 60618

Status: Active
Listing ID: 57406263

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Foreclosure Timeline

Not in Foreclosure

Pre-Foreclosure

Auction

Bank Owned

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View Foreclosure Status
02/01/22
Lis Pendens issued
The owner of this property was served a notice of lis pendens for missed mortgage payments.
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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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Rental Value

The estimated rental value for W Grace St # G located in Chicago, IL is $1,560/month. Comparable homes around W Grace St # G that are rentals have monthly ranges starting as low as $1,378 per month and as high as $1,790 per month. An owner looking to use this property as an investment could bring a return in the area of $1,378 - $1,790 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
02/01/22   Preforeclosure JP MORGAN CHASE BANK NATION...

Chicago, IL
Home Inspectors
Keeshin Inspection Services
Stuart Keeshin
773-871-2356
True Blue Home Inspections, Inc.
James Clark
3129250166
Pentagon Inspections & Services, Inc
Jonathan Howard
3127249000
Reliant Inspection Service Corp.
Fidel F. Gonzales
630-935-7170
Homes On This Street
View more homes on W Grace St # G
foreclosure.com

W Grace St # G
Chicago, IL 60618

2 Beds   1 Bath   Condo

$221,850 EMV

Status: Active Listing ID: 57406263

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=W-Grace-St--G-Chicago-IL-60618/57406263_lid

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