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  • Chicago Resources
  • Chicago Resources
  • Chicago, Illinois has always been known as being an industrialized center of the United States. It is considered as ...

Illinois Foreclosures for Sale

Chicago has recorded a steep drop in housing prices, with the median listing price sitting at just under $230,000. In the state's capital city, Springfield, median listing prices are currently at $99,000. These statistics show strength in the market, making the purchase of Illinois foreclosures a worthwhile investment.

Illinois is situated in America's Midwest region, which touches borders with other states including Indiana, Iowa, Kentucky, Missouri and Wisconsin. The area is largely dominated by the Central Plains, which accounts for nearly 90% of the region in Illinois. It is a large scope of land that stretches across much of the state, featuring a combination of low altitude flatlands, hills and wide-ranging valleys. Perhaps the most important sector of this region is the Till Plains, which is noteworthy due to its huge contribution to Illinois' agricultural industry. The soil perfectly accommodates the production of corn, making the state a highly regarded contributor to the export of corn around the US. Besides the Central Plains, other smaller regions can be found in the state as well, including the Shawnee Hills (just south of the Central Plains) and the Gulf Coastal (located at the southern edge of the state).

Along with the state's strong agriculture industry, other avenues of revenue include manufacturing. The construction of various types of machinery develop a wealth of economic power to the state; manufacturing tools and equipment which are relative to a number of different industries, such as farming tools and equipment used for the building and construction industry. Services including law firms, hotels, accounting agencies, advertisement branches and private health care institutes also contribute greatly to Illinois' burgeoning economy. The mining industry garners most of its profits from coal, gravel, petroleum and crushed stone, along with other products such as clay and Tripoli.

Springfield's demographic displays an average age of about 36, with the general median household income coming in at about $49,251. Households with children account for nearly a quarter of all homes in Springfield; the rate of married couples in households also comes to nearly half as well. The number of houses being sold per month has experienced an increase in sales also, making now the perfect time to invest in Illinois home foreclosures.