Your Landlord Is in Foreclosure. What Happens to You?
If you rent in Chicago and your building goes through foreclosure, you have rights.
If you rent in Chicago and your building goes through foreclosure, you have rights. The Keep Chicago Renting Ordinance protects qualified tenants when a lender or new owner takes over a foreclosed rental property.
What the ordinance generally requires
A lease
The new owner must usually offer qualified tenants a lease renewal or extension at a set rent.
or
$10,600
A one-time relocation assistance payment.
The new owner must also give tenants written notice of their rights and maintain the building.
Common problems we see
- Tenants told to leave without any offer or payment
- Utilities shut off or repairs stopped after the foreclosure
- “Cash for keys” offers far below what the ordinance requires
How we help
We review your lease and the foreclosure case, confirm whether you qualify, and demand the lease or payment you're owed.
This page is general information, not legal advice. Every case is different.
Talk to the attorney about your case.
Send your summons or court papers. We will review them and tell you where you stand.
Got a notice from a bank or new owner?
Don't sign anything until you call +1 (555) 555-5555.