The Real Estate Market is wide open for purchasing properties in pre or post foreclosure. You can buy off HUD and in a variety of ways. Some keys to remember when investing: 1. Taxes, 2. Insurance, 3. Maintenance, 4. Management, 5. Utilities, and 6. Reserves. Chicago and its surrounding suburbs present ample opportunity to save thousands on buying REO and Pre-Foreclosures. Many homes have been sold at auctions and that route continues to rise. Sheriff auctions increasingly fall behind schedule due to the overwhelming amount of stock [properties].