Investors scouring Chicago for foreclosures Locals, out-of-towners in rush to snap up homes for rehab, resale or, increasingly, to convert them into rental properties

Pulling up to a distressed home for sale in Oak Lawn last month, Carl Courtright saw that two other potential buyers were looking at the property. He returned a while later to find a third competitor.
After getting 10 minutes to look at it himself, he saw a fourth would-be buyer waiting for his own quick showing of the home.
“There’s a ton of competition,” Courtright said later. “If you’re careful with your money, it lends itself to being a very solid opportunity.”