Lake Villa, Illinois

Price last sold for: 389,000
Current price: $224,900
Bedrooms: 3
Bathrooms: 2.5
Square feet: 2,600

Only 25 miles north of the Windy City, the Lake Villa area has a high foreclosure rate of one in every 247 homes. When last purchased in 2005, this short-sale home received $20,000 in upgrades, including hardwood floors and a marble fireplace.