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National market report: 35 percent of Chicago home sales distressed

By The Real Deal | May 07, 2012 03:00PM

Chicago skyline

From the New York May issue: The housing market in the Chicago metropolitan area remains “fragile” due to a large number of vacant homes, lengthy foreclosure processing times and “severely underwater” mortgages, the Chicago Tribune reported. According to a report last month from the U.S. Treasury Department, around 35 percent of Chicago’s home sales are distressed, compared to 34 percent in the nation as a whole. Click here for these stories and more.