2 Baths   2,212 Sq. Ft.   Commercial
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W Ohio St
Chicago, IL 60644


This Commercial Preforeclosure is located at W Ohio St, Chicago, IL 60644. It has 2 Baths , 2,212 sqft of living space. This property is currently in pre-foreclosure
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Status: Inactive
Listing ID: 54893295

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Property Information

  • Bathrooms: 2
  • Living Area Size: 2,212
  • Lot Size: 0.14 acres
  • Year Built: 1895
  • Source ID: 1262759
  • Day(s) On Site: 923
  • Parcel Number: 16091170110000
  • Property Type: Commercial
  • Plaintiff: Tcf National Bank
  • Defendant Name: WILLIE JAMES POTTS
  • Case Number: 20CH00949
  • Recording Date: 01-24-2020
  • Trustee Address: 10729 W 159 Th St
  • Trustee City: Orland Park
  • Trustee State: IL
  • Trustee Zip: 60467
  • Trustee Phone: (708) 460-7711
  • 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.


    Loan Information

  • 1st Mortgage Date: 08-23-2005

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Chicago, IL
Home Inspectors
Pentagon Inspections & Services, Inc
Jonathan Howard
Keeshin Inspection Services
Stuart Keeshin
Reliant Inspection Service Corp.
Fidel F. Gonzales
True Blue Home Inspections, Inc.
James Clark
Homes On This Street
View more homes on W Ohio St

W Ohio St
Chicago, IL 60644

2 Baths   2,212 sq. ft.   Commercial


Status: Inactive Listing ID: 54893295

Property Information

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