2659 HOBSON ROAD, DOWNERS GROVE, IL

Fannie MaeReal Estate📍DOWNERS GROVE, IL

List Price

$330,000

Availability

For sale

Pre-bid checklist3/9

The property

Type of sale · Fannie Mae REO (bank-owned)
Interior access · Typical: Agent showings are usually available for agency-owned homes
Cash or financing · Typical: Offers go through an agent or broker. Financing is usually allowed
Title and liens
Occupied or vacant
Condition and repairs
Back taxes, HOA and utilities
Zoning, flood zone and access
Buyer's premium and fees

From the seller's description. Not a guarantee of condition.

Market demand: Real Estate in Illinois sell about 26% of the time, typically ~2 bids. Based on 273 completed sales over the last year.

Appraised valueFixed price

$330,000

Fannie Mae lists this HomePath home at an appraised market value, not an auction starting bid.

This is the asking price set from that appraisal, not a below-market auction bid - a fair price for the home, not a guaranteed bargain.
The real edge of a government REO is a clean sale: clear, insurable title with any past-due property taxes settled at closing.
Sold as-is with no seller repairs, so budget an inspection and repairs on top of the price.

The appraisal reflects the home's condition when it was inspected; values change over time. Not an independent valuation or investment advice - always inspect and confirm the numbers before you make an offer.

Title and tax regime in IllinoisClear title

This is a government REO sale, not a tax sale. The two convey title very differently.

This listing: conveys with clear, insurable title. Past-due property taxes are settled at closing by the seller, there is no redemption period, and no former owner can reclaim it.
County tax sales in Illinois: Illinois is a tax lien state. The county sells the unpaid tax debt, not the house. You buy a certificate that earns interest, and you only get the property if the owner never repays. The former owner then has 30 months to reclaim the property. Title here usually needs a quiet-title action before it is insurable or resellable. None of that applies to this listing.

We do not estimate what a specific property owes. Lien and back-tax amounts live in county records and only a title search returns the real number, so any figure produced without one is a guess you should not bid against. Compare all 51 state tax-sale regimes. State-level rules, not legal advice.

Seller

Fannie Mae

Condition: REO / sold as-is

Full Description

Fannie Mae HomePath REO property at 2659 HOBSON ROAD, IL 60516. Single Family, 5 bed, 3 bath, 1,389 sqft, built 1967. Sold as-is by Fannie Mae.

Pickup information

DOWNERS GROVE, IL 60516

Fannie Mae

Appraised valueFixed price

$330,000

Fannie Mae lists this HomePath home at an appraised market value, not an auction starting bid.

This is the asking price set from that appraisal, not a below-market auction bid - a fair price for the home, not a guaranteed bargain.
The real edge of a government REO is a clean sale: clear, insurable title with any past-due property taxes settled at closing.
Sold as-is with no seller repairs, so budget an inspection and repairs on top of the price.

Title and tax regime in IllinoisClear title

This is a government REO sale, not a tax sale. The two convey title very differently.

This listing: conveys with clear, insurable title. Past-due property taxes are settled at closing by the seller, there is no redemption period, and no former owner can reclaim it.
County tax sales in Illinois: Illinois is a tax lien state. The county sells the unpaid tax debt, not the house. You buy a certificate that earns interest, and you only get the property if the owner never repays. The former owner then has 30 months to reclaim the property. Title here usually needs a quiet-title action before it is insurable or resellable. None of that applies to this listing.

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