15-1507.Judicial Sale.

Once the reinstatement and redemption periods run out under Section 15-1603, or all redemption rights are waived, the property is sold at a judicial sale on the terms the judgment of foreclosure sets. Any judge, sheriff, or other person authorized under Section 15-1506(f) can conduct it, and the mortgagee may request that the sale run in person, online, or both, where available.

Notice of the sale must include contact information for questions about the property, its common and legal description, a description of improvements, pre-sale inspection times if any, the sale's time and place (including whether it's online, in person, or both, and the bidding website if applicable), the sale terms, the case caption and court, and any condominium or common-interest-community disclosures the Condominium Property Act requires. That notice publishes at least 3 consecutive calendar weeks, Sunday through Saturday, once each week -- the first publication no more than 45 days before the sale, the last no fewer than 7 days before it -- through both a general legal-notice advertisement and a separate real-estate-section advertisement (which can be the same newspaper outside the largest counties, or a single combined ad if the paper has no separate sections). The same party must also give direct notice, in the manner used for non-process papers, to every party who has appeared and isn't in default, on that same window of not more than 45 nor less than 7 days before the sale, and file proof of that notice with the clerk.

An adjourned sale generally needs fresh notice under this same Section -- except that no renotice is required if the adjourned sale happens less than 60 days after the last scheduled date, though the person conducting the sale must announce or post the new date, time, and place. If the adjournment pushes the sale more than 60 days past its original date, full renotice is required. Notice may be given before the reinstatement or redemption period even expires, and no further notice by publication or posting is needed beyond what this Section requires, absent a court order. After the sale, the purchaser gets a receipt showing the bid, amount paid, and balance due, and on full payment receives a recordable Certificate of Sale -- freely assignable by endorsement, and always subject to confirmation. Interest at the statutory judgment rate on any unpaid bid balance runs automatically from the sale date to the date of payment.