Location, location, location...it's all about location and of course situation.
as far as 60526 it depends where you are at.
i only deal with serious buyers/sellers if you are one, email me if you have further questions.
thanks and good luck.
We have a lot of foreclosures to come from bad loans. They are concentrated more in cal and florida. They may also be in your area. If so those will be coming through 2012. That is 2 years. Government interference (aka loan mods and foreclosure moratoriums) could extent that time frame. I expect it could be a year or more to clear all those foreclosures once they arrive. That suggests 2013, more likely 2014 would be the first possible up year for prices nationwide (barring hyper-inflation).