The house is a short sale and according the listing information it states it requires some "TLC"...
However, the fact that it is not FHA approved tells me that it will need more than a little "TLC". Usually, FHA homes (not to be confused with condos, that's a whole other matter) need to be in habitable condition & this one may not be. Best way to tell is to go see it, which I can help you with.
If that's the case (that the home is not in move in condition) you may want to consider a 203k loan product. Contact Matt Bukovy at Wintrust Mortgage 773.416.7107, ask him to enlighten you on the requirements for this type of loan.
On another note, if you want accurate & up to date information for your home searches use my website it's free & tied in to the MLS (multiple listing service, every broker is on there). See below for the link.
Hope this helps & good luck!