Free Illinois Foreclosure Seminar - Wednesday, December 10th

2008 is fast coming to a close and Illinois and the Chicago Area have had another record year of foreclosures.

ilFLS.com, the Illinois Foreclosures Listing Service, is closing out 2008 with the last in our popular series of free foreclosure seminars, Kickstart your Foreclosure Investing. Over the past year we have hosted literally hundreds of mortgage, real estate, and legal professionals who have come to learn more about foreclosure investing from our local team of Chicagoland foreclosure investors.

Topics will include:

• Quickly Search for and Find Foreclosures in the Chicago Area
• How to qualify foreclosure deals
• The different types of foreclosure deals
• Why you should be wary of Illinois foreclosure auctions
  

We look forward to seeing everyone on December 10th!

Kickstart your Foreclosure Investing
Wednesday, December 10, 2008, 7-9pm
Panera Bread, Wheaton, IL
FREE

The Rise of Commercial Foreclosures in Illinois

In the month of October there were over 6000 new foreclosures in Chicagoland Illinois, according to the Illinois Foreclosures Listing Service, ilFLS.com. Not surprising were the number of single family homes and condominiums in foreclosure, as they represent the most active and largest segment of the real estate market. However, every month an increasing number of commercial foreclosures are showing up on the ilFLS.com website.

Commercial properties in foreclosure range from multi-unit apartment buildings in Chicago to whole subdivisions in foreclosure in the collar counties.

Examples of October Commercial Foreclosures:

Commercial Building in Financial District of Downtown Chicago
401 S. Lasalle
Chicago, IL 60605
$6.3 million Due
Preforeclosure

Vacant Land / Development in Kane County
80 Acres on Randall Rand
Algonquin, IL 60102
$8.5 million Due
Preforeclosure

Restaurant Buildings in West Town Chicago
820 N. Ashland
Chicago, IL 60622
$3.9 million Due
Preforeclosure

To search through the newest Illinois commercial foreclosures, auctions and REOs visit ilFLS.com.

New on ilFLS.com: Illinois Probates and Illinois Divorce Filings

Attention Illinois real estate investors attempting to capitalize on the current real estate market, ilFLS.com is trying to help you (yes I am talking to you.)

Since 2004 ilFLS.com, the Illinois Foreclosures Listing Service, has provided the highest quality premium listings of foreclosures, auctions, and REOs to Chicago area investors. High quality because we are located in the Chicago Area and have professionals who record data DIRECT from inside the county buildings.

Our team of professionals are now recording the most current Illinois divorce filings and Illinois probate records.

Current Coverage for Illinois Probate Filings and Illinois Divorce Records:

Illinois Home Market Jumps 24.5% in March 2008

Check out these Illinois housing numbers which just came courtesy of the Illinois Board of Realtors and Medill News Services:

Illinois total home sales in March rose significantly from February, even as national existing-home sales fell 2 percent in the same month.

According to the Illinois Association of Realtors, Illinois total home sales, which includes single-family, condominiums, new and existing homes, jumped 24.5 percent last month to 8,509 compared with February sales of 6,832. The Illinois median price, the price where half the homes sold for more and half sold for less, was $194,500 in March, down 1.3 percent from $197,000 in March of 2007.

Although March 2008 sales for the state were down 29.5 percent from 12,075 in March 2007, experts say they expect further progress this year as the season changes.

My feeling is that the real estate market in Illinois is much more stable than other markets throughout the United States and sales will continue to be driven by local pent up demand for Chicagoland housing.

Let's see how the April 2008 housing numbers turn out.

Chicago Area Illinois Foreclosure Statistics Update 1st Qtr. 2008

The Chicago land area which includes Cook, Dupage, Kane, Kendall, Lake, McHenry, Will and Winnebago Counties has seen another significant upswing in the foreclosure filings in the 1st Quarter of 2008. Overall, since the 1st Quarter of 2006 Chicago land Illinois counties have seen a 100% increase in the number of new foreclosures and a 8% increase over the last quarter of 2007.

CLICK on graphs to see LARGE images of the foreclosures numbers

Chicago Foreclosure Statistics for Uptown Neighborhood "60640" Zip Code

If you would like to see foreclosure statistics for your area in the Chicagoland Area just let me know. ilFLS.com records the newest notice of default foreclosures directly from the Counties so you get the most accurate statistics possible.




NOTE: 90% of the foreclosures in 60640 were on condominiums.

Dupage County Illinois Foreclosure Statistics

The Dupage County foreclosure statistics are recorded directly from the judicial foreclosure filings in Wheaton, Illinois by the Illinois Foreclosures Listings Service (www.ilFLS.com) professional team of recorders. The statistics below are on new foreclosure filings, sometimes referred to as preforeclosures or the Lis Pendens. To receive more information about the preforeclosures, upcoming judicial auction dates or REOs in Dupage and the surrounding counties you can visit ilFLS.com.