Thinking a buying a pre-foreclosure, short sale or foreclosure (bank owned property) in the Gold Coast? Everybody is searching for that elusive good deal in one of the most expensive affluent neighborhoods in Chicago, but finding it can be a tedious, stressful project. The payoff is the obvious discount you will receive on the purchase price. Along the way expect to deal with a lot of competition, long waits for an answer from the bank, and many times the homes are “cash only”, they will not accept a mortgage contingency.
The Gold Coast is such a highly coveted area to live with everything right outside your front door, from tree lined, perfectly manicured streets to shops, cafes and just a couple of blocks to the lake. This contributes to why there can be multiple offers when bidding on one of these homes. So do your research and put your best foot forward when you make an offer, odds are there will be no counter-offer. You can see a list of Gold Coast foreclosures, pre-foreclosures and short sales below.
Gold Coast Short Sales and Foreclosures
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