Pre-Foreclosure & Short Sales

Pre-Foreclosure & Short Sales

Chicagoland Appraisals is a leading provider of real estate appraisals for REO foreclosures and short sales. Our Company appraises real estate throughout the greater Chicago area.

We provide high quality appraisals with detailed opinions of fair market value for mortgage banks, and mortgage servicing clients as well as “quick sale” forecasts that consider your specific timeline.

Our foreclosure and short sale appraisal services cater to the needs of homeowners in default, banks with real estate owned properties (REOs), mortgage lenders, HUD, FHA, law firms, loan service companies and other financial institutions that make personal and commercial loans.

For commercial real estate in foreclosure and bank owned real estate (REOs), owners and banks alike need to know the difference between “fair market” value and “quick disposition” value in order to determine the potential equity position or charge-off liability. Regardless of whether the real property is residential or commercial the fair market value in an ever changing market is crucial to reducing non- performing inventory of REO real estate.

Owners of real estate which are in foreclosure are faced with many challenges. Some are unwilling to allow an inspection of the property or if they’ve already abandoned the property, they may have neglected care of the home for a period of time, or even purposely caused damage.

We have both the knowledge and experience to deal with the specific aspects of foreclosures and short sales, which is why you can rely on our reports to minimize your losses.

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Theresa VanderMeer
Theresa VanderMeer
2023-03-14
I coordinated remotely with Chicagoland Appraisals and had a great experience for my condo in Andersonville. Everything was timely and organized. Good experience overall!
George G
George G
2022-06-10
My wife and I are extremely grateful for the work that Chicagoland Appraisals did at our property. John arrived at our single family home (built 2019) in the Portage Park neighborhood of Chicago, IL. It was an in person COVID friendly home appraisal. John was super professional and had all the equipment he needed to conduct the appraisal efficiently. The turnaround time to receive the PDF file was super fast! The official appraisal conducted by John helped provide the necessary evidence needed to correct the value of our home compared to what a computer spit out from the Cook County assessor's office first pass assessment. Our Cook County 2021 first pass assessment was $740,000 = yearly tax estimate of $15,566.00 Our Cook County Assessor Post-Appeal = $669,390 = new yearly tax estimated of $14,081.00 This reflects an over assessment of $70,610.00 of our property! Our total estimated yearly tax savings equals $1485.00. $1485 x 3 years = $4455 of savings! (until next assessment) We did not hire any lawyers! We only followed the directions on the Cook County official appeal website. My wife and I uploaded the PDF file that Chicagoland Appraisals created and submitted a small residential appeal narrative to support our appeal. We did everything online and did not have to appear before the cook county property tax board. Thanks to everyone at Chicagoland Appraisals, our family can continue to live in the Portage Park neighborhood of Chicago. This company is accurate, honest, and professional. Chicagoland Appraisals offers excellent value for the work performed.
Ryan Mersch
Ryan Mersch
2022-05-25
John was very professional and provided the documents before estimated and has been very diligent and responsive to requests
Thomas Awrey
Thomas Awrey
2022-02-17
I had my Rogers Park condo appraised by Chicagoland Appraisals in mid January of this year. The scheduling process went smoothly and the in-person appointment was swift and informative. I was getting my property appraised to remove PMI, and received the appraisal 3 weeks after the appointment. The process was overall easy and professionally done. Would use them again in the future.
Mark Bair
Mark Bair
2021-04-27
I had an excellent experience with Chicagoland Appraisals and the owner John Tsiaousis and recommend his company and services very highly. I needed an appraisal for the condo I own in Logan Square neighborhood - and it was rather urgent. I had tried other recommended appraisers - but they were too busy or unavailable. I discovered John and Chicagoland Appraisers through them website - which left a very favorable initial impression and means of contact. John was highly responsive from the initial contact - and throughout the process. His approach is professional and courteous. The online scheduling tool was very helpful and enabled me to meet my timing needs. Chicagoland offers both virtual and in person appraisal services. I used the in person appraisal. He arrived on time, was prepared and conducted his inspection efficiently and thoroughly. John promised a quick turnaround on the written document - and actually exceeded expectations. The report was very well constructed and supported his appraisal with relevant comparable properties. John made himself available and responsive to my questions. In addition, the fees for Chicagoland charged were very reasonable and represent a great value for the services delivered. In summary, I've had numerous appraisals done on various residential properties I've owned over the years. I've never had a better appraisal experience than I had with Chicagoland Appraisals and John Tsiaousis. I highly recommend their appraisal services.