According to a recently released CoreLogic report, 20.5% of all metro Chicago homes with a mortgage were worth less than the amount of the mortgage at the end of Q3 2013. That translated to 281,696 properties, down from 333,175 at the end of the second quarter of 2013.
Of the 25 largest metro areas by population, Chicago ranked 5th in the number of homes with negative equity.
The full report is available at CoreLogic. Free registration is required to access it.