Community Corner

Foreclosures On The Rise In Lake County

Still just a small part of the housing picture in Lake Forest, Lake Bluff.

According to a report from RealtyTrac, foreclosures are on the rise in Illinois and in Lake County. RealtyTrac is an online marketplace for foreclosure properties.

Grayslake ranked third in Lake County Foreclosure Activity Count with 82 foreclosures in May. Buffalo Grove was fourth with 61 foreclosures. Lake Zurich had 38 foreclosures in May. Other towns counts were: Barrington, 31, Lake Forest 12 and Lake Bluff 10.

Round Lake and Waukegan had the most foreclosures in May with 131 and 121, respectively.

Find out what's happening in Lake Forest-Lake Bluffwith free, real-time updates from Patch.

The total number of Lake County properties that received a pre-foreclosure filing was 647, the highest this year.

Grayslake had one of the highest foreclosure rates in Lake County, 1 in every 162.  The rate is calculated by dividing the total number of housing units in a zip code by the total number of properties that received foreclosure filings.

Find out what's happening in Lake Forest-Lake Bluffwith free, real-time updates from Patch.

Lake County’s foreclosure rate at .36 percent is higher than the Illinois average of .2 percent and higher than the national average of .17 percent.

Filings, which include default notices, auction-sale notices and bank repossessions, represent one in every 272 housing units in Lake County.

Nationwide, foreclosures are down 2 percent from April and 33 percent from May of 2010, according to RealtyTrac’s U.S. Foreclosure Market Report.


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