This week’s list has 47 foreclosures with great deals like this single family home in http://ilbankhomes.com Chicago’s [Read more…]
Foreclosures in Chicago Rehabbed and Sold For a Profit
Foreclosures in Chicago Rehabbed and Sold For a Profit
Link to form mentioned in video above–> http://goo.gl/dDSPkI
or call Goran Utvic at 312-217-4354
Is it possible to make money flipping foreclosures in this market? Most people think the answer is no…well I say YES!…it is being done in this market and smart investors are making big money buying foreclosures in the Chicago area, rehabbing them and selling for massive profits! I wrote a previous post:
Can you still flip Northwest Chicago real estate in this market and make a profit?
Since then I have done more research and I wanted to post what I have found.
The first foreclosure property…5113 W Melrose Ave , Chicago, Illinois 60641… a 3 bedroom 1 bath Chicago Bungalow, sold on 11/22/2010 for $90,000 the foreclosure was rehabbed completely to a 5 bedroom 2 bath home and sold on 5/27/2011 for $239,900 – market time 2 days! …see for yourself here => Chicago Foreclosures Before and After Sheet
Foreclosure number two…5814 W School St, Chicago, IL 60634 a 4 bedroom 1.5 bath brick Chicago Bungalow was bought for $110,000 on 1/3/2011…the home was rehabbed to a 3 bedroom 2 bath and sold on 6/3/2011 for $230,000 market time 47 days! …see for yourself => Chicago Foreclosures Before and After Sheet
Foreclosure three…a 4 bedroom 2.5 bath brick Chicago Bungalow at 3616 N Luna Ave, Chicago, IL 60641 purchased for $120,750 on 12/22/2010 completely rehabbed to a 4 bedroom 3 bath and sold for $270,000 on 6/17/2011 – market time 19 days! …see for yourself => Chicago Foreclosures Before and After Sheet
Foreclosure number four…4838 W Cornelia St, Chicago, IL 60641 was a 2 bedroom 2 bath that was purchased for $130,000 rehabbed to a 3 bedroom 3 bath and sold for $310,000 on 5/24/2011 – market time 21 days!
You are probably wondering how extensive the rehabs were…well I can tell you the work that was done was very good and higher end. …see for yourself =>Chicago Foreclosures Before and After Sheet
The kitchens were opened up with tall cabinets stainless steel appliances and granite counters. The bathrooms have quality tiles like travertine and glass mosaics, cherry wood vanities and cast iron tubs. The walls, floors, doors and trim were all refinished. The basements were completely finished with ceramic tile floors and drywall.
In other words, none of the examples I have shown you are handyman type repairs, they were rehabbed by professionals. The short market time is an indicator of the kind of quality work that was done…this is the key…the more the prospective buyer is WOWed when viewing the property the first time…the quicker the rehabbed foreclosure sells! and the quicker you sell the more the profit.
I don’t know about you but, if you are as excited as I am with the possibilities, you can start here with your Chicago Foreclosures search!
View my Chicago Foreclosure Case Study Video Here!
REO Foreclosures and Short Sale Condos in Des Plaines, IL
REO Foreclosures and Short Sale Condos in Des Plaines, IL
In the past 3 months 48 properties sold in Des Plaines IL as either an REO A.K.A. bank owned property or as a short sale. The least expensive condo to sell was a 1 bedroom 1 bath unit at 10118 Holly unit #GS for $18,000. The least expensive 2 bedroom condo sold for $39,700.
Currently there are over 100 foreclosures that are either REO or short sale properties listed for sale at less than $100,000. Price range $25,000 – $100,000.
Buying a condo in Des Plaines, IL? REO and Short Sale Properties are the way to go if you are looking to get a bargain!
Read my post What do you need to search Northwest Chicago Foreclosures for great tips on buying foreclosure properties.
If you are looking to buy a foreclosure or a short sale condo in Des Plaines, IL use the map search below 
or signup for priority foreclosure alerts
Single Family REO Foreclosures and Short Sale Properties in Des Plaines, IL
Single Family REO Foreclosures and Short Sale Properties in Des Plaines, ILIn the past 3 months REO Foreclosures and Short Sale Properties accounted for 40% of the market for single family homes in Des Plaines, IL.
The bank owned Foreclosure prices ranged from $70,000 – $279,900. 22 total properties.
The Short Sale Properties price range was $110,000 – $300,000 for a total of 13 properties.
If you are looking to buy a foreclosure or a short sale use the map search below or signup for priority foreclosure alerts.
Can you still flip Northwest Chicago real estate in this market and make a profit?
Can you still flip Northwest Chicago real estate in this market and make a profit?
Every time I come across a good deal and contact Investors I get a lot of hesitation…unlike the late 90’s and early 2000’s when everybody wanted a piece of the action. Well believe it or not, Investors are flipping properties now in this market and making more profits than they ever have!…because a lot of people are hesitant and do not think there is money to be made. That’s exactly what the investors that flipped the properties listed below want you to keep on thinking!
You don’t have to take my word for it, look up the public records for yourself…or email me I’ll send you the MLS Sheets
5210 W Grace St. Chicago, IL 60641 Bought for $118,150 on 11/05/2010 as a foreclosure…property was remodeled and flipped on 2/28/2011 Sold for $242,000 under contract in 9 days!
5758 W Dakin St , Chicago, Illinois 60634 Bought for $125,000 (foreclosure) on 12/15/2010 flipped and Sold 4/26/2011 for $252,000 under contract in 8 days!
6325 W Melrose St, Chicago, Illinois 60634 Bought for $105,000 (foreclosure) on 12/30/2010 flipped and Sold 5/11/2011 for $230,000 under contract in 4 days!
One 
thing these Investors had in common is that they worked with a Realtor that gave them access to foreclosure listings. You can get setup to receive REO foreclosures property listings here
If you email me I’ll send you the MLS sheets so you can see for yourself with before and after pictures that show what work was done to these foreclosure properties.
Lowest Price Foreclosure Deal Sold in Portage Park Chicago – May 9th 2011
Lowest Price Foreclosure Deal Sold in Portage Park Chicago – May 9th 2011
If you were wondering if there really are foreclosure deals out there the answer is Yes! This home sold in Chicago‘s Portage Park neighborhood on May 9th 2011 for $77,000. It’s a 1,056sf home with 3 bedrooms and 1.5 baths. Full listing details for this Portage Park foreclosure deal here.
Buying a foreclosure could save you 
thousands of dollars on your home purchase. You can read more tips on …how to find the right Northwest Chicago foreclosure
Foreclosure deals are out there, you just need to have the right tools and resources to better your chances of getting the foreclosure deal that’s right for you.
If you have been thinking about buying a foreclosure property in Northwest Chicago or suburbs you need to get this list NOW!
Currently there are 13 new foreclosures on the market in Portage Park ranging from $39,900 – $210,000.
Get Your List NOW BY Clicking The FREE FORECLOSURE ALERTS Link Below.