There's a lot of risk associated with post closing possession, even if you take all the precautions available to you. Delaying closing is the best option.If your possession has been "adverse," you own it. Learn how long it takes to foreclose on a home in Illinois, the best way to avoid foreclosure and the 10 steps in the Illinois home foreclosure process. Selling a rental property in Chicago with existing tenants takes special marketing skills and expertise. The following provides information on how residential and commercial property vacancy in the Cook County Assessor's Office (CCAO) is handled. If the transaction is completed at p.m. , the buyer is entitled to vacant possession at that time, since that is "upon completion. Call 3-1-1 or visit the 3-1-1 website to report a problematic vacant building or occupied building with a vacant storefront.