what is redemption period after the sheriff sale in illinois? FIRST ANSWER In Illinois the redemption period is up until the time of Sheriff Sale. If the property sales to a third party at the time of auction for less than what is owed then the homeowner is entitled to "special redemption" after the sale. Even though the property would sell for less than what is owed the homeowner is still responsible for the entire balance including accrued interest, unpaid taxes, force placed insurance, and the cost to foreclose. Web Reference: http://about.me/markilemons