Foreclosure properties for sale in Northwest Illinois are pressuring affordable housing officials in the counties of Whiteside, Carroll, Bureau, LaSalle, Marshall, Lee, Ogle, Stark and Putnam to prepare for the expected rise in number of families needing housing help from local officials.

Among recent foreclosures affecting a lot of families are eight apartment buildings previously owned and managed by Lonnie Chattic, one of the board members of the Sauk Valley Landlord Association.

Four of these rental buildings have been taken back by banks and all renters of two of these buildings have been ordered to move out of their units, according to records filed at the Whiteside County Courthouse.

One of the eight troubled apartment buildings has been scheduled for auction in a December sheriff’s sale and three have been targeted for foreclosure by banks, based on Whiteside court filings.

As more renters are expected to move out from the foreclosed apartment buildings, affordable housing officials have been thinking of ways to help the affected renters.

What worsened the situation was the decision of the state of Illinois to cut its funding for homeless programs in Tri-County. After reducing funding from $100,000 last year to only $20,000 this year, the state has also delayed delivering the money.

With the rising number of renters forced out from foreclosure properties for sale and the sharp drop in public funding, Whiteside County was forced to close its waiting list for rental vouchers. There are only 285 rental vouchers available for residents of Whiteside.

According to Housing Authority director Lynn Deter, families have to wait for six months on the average to be able to move into the 265 available public rental houses in Whiteside County.

Sandra Julifs, chief executive of the Tri-Counties Opportunities Council, said that affordable housing is now the top problem in the area. It is only Tri-County which provides emergency housing, either through its Homeless Prevention Rehousing Program or through its transitional shelter program. The rehousing scheme is a federally-funded rental program that subsidizes the rent of qualified households for up to one year and six months. Qualified families are those that have been forced out of their rentals or have been made homeless.

According to Sterling city officials, Chattic owned around 20 rental buildings in the Sterling area before most of them became foreclosure properties for sale. Because the buildings were mostly occupied by low-income families, the affordable housing problem worsened when the rental buildings went into foreclosure.

 Author Resource:->  Original Post: Foreclosure Properties for Sale in Illinois Rental Sector on

Article From Real Estate Pro Articles