Legal Question in Real Estate Law in Illinois

If the property is truly abandoned, and there is still a mortgage on it, then chances are the Bank has taken possession of the property. If you wish to purchase the property, you can contact the bank to discuss with them the possibility.

Alternatively, if taxes have not been paid, then you can bid on the taxes at a tax auction through the County. This is a long cumbersome process that may not result in you actually getting the property.

Under either scenario, speak with an attorney familiar with real estate and foreclosures. A good attorney with the right information can provide you the necessary details for you to make an informed decision on this property.

At this point, you only option probably is to contact the owners and purchase it from them. You may be able to buy the taxes at the auction, but this is a very exacting exercise. There are many deadlines and notices you would need to send in order to eventually take title this way. I would suggest you contact a real estate attorney in your area who can guide through the various options.