On August 3, 2018, Illinois' Governor Bruce Rauner approved House Bill 5176 ("HB5176"). HB5176 defines how law firms must publish the sale of a foreclosed property in Cook County, which is home to the City of Chicago. Effective immediately, the notice of sale will now need to be published in the real estate section of the newspaper within the township in which the property is located. Before this amendment, the notice did not need to be posted in the newspaper circulated within the same township as the property. Whether this change will have any effect on increased bidding activity at individual foreclosure sales remains to be seen. While Kluever & Platt believes that previous foreclosure sales will not be affected by the bill, we recommend going forward that any notice of any sale for a Cook County property should be published in the township where the property is located.
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