About foreclosures
Summary
In this section of EveryBlock, we publish recent foreclosure filings in Chicago, so you can see how the collapsing housing market is affecting your neighborhood.
Each report includes the block where the foreclosure occurred, the date the foreclosure was filed, the type of property involved (single-family structure, multi-unit structure, condominium) and a case number unique to each filing.
Several things can happen after a foreclosure filing, including the auctioning of that property. In Illinois, the average time between an auction and the first filing is 13 months.
The data is provided through a partnership with Woodstock Institute. Note that the data doesn't include all property types (such as industrial and commercial). Woodstock's focus is on residential property.
Also note that these figures differ from Woodstock's foreclosure figures and analysis reports. That's because Woodstock looks at foreclosures throughout the Chicago region, whereas EveryBlock only tracks filings in Chicago proper.
If a filing appears on EveryBlock, it means a lender has filed a foreclosure in Circuit Court of Cook County Chancery Court.
Source
The data comes from Woodstock Institute, which buys the data from the Record Information Services. The data is updated every two weeks. However, it usually takes about a month after the initial filing for the data to get to Woodstock, and then to EveryBlock.
Before sending the information to EveryBlock, Woodstock screens the data to remove duplicate entries. Woodstock also performs research to identify each property's type.
What is the partnership between EveryBlock and Woodstock Institute?
Woodstock Institute is a research, policy development, and advocacy organization working to improve access to safe and affordable financial products and services in underserved markets. EveryBlock and Woodstock Institute forged a partnership to provide the public more information about the foreclosure crisis in Chicago.
Woodstock gets its data from the Record Information Services and issues regular reports on the housing crisis, including a report about Chicago City and Regional Foreclosure Activity for the first half of 2008. Woodstock routinely adds new reports on its foreclosure updates page.
As noted above, Woodstock's figures differ from totals you will find on EveryBlock. The main reason is that EveryBlock focuses only on the city of Chicago proper, while Woodstock tracks foreclosures throughout the metro area.
