Nothing in this Article shall affect the right of a mortgagee to foreclose its mortgage by a common law strict foreclosure as in existence in Illinois on the effective date of this Article.
15-1403.Common Law Strict Foreclosure.
Article XV. Mortgage Foreclosure · Part 14. Methods of Terminating · Not amended since adoption on record · Last verified July 20, 2026
In one sentenceSection 15-1403 preserves a mortgagee's pre-existing right to foreclose through common law strict foreclosure as it existed in Illinois before Article XV took effect, alongside the statutory methods the Article otherwise requires.
Full Text of 735 ILCS 5/15-1403
Plain-English Summary
Article XV generally channels foreclosures into the judicial process it sets out, but Section 15-1403 keeps one older avenue open. It states that nothing in the Article affects a mortgagee's right to foreclose through common law strict foreclosure, as that remedy existed in Illinois on the Article's effective date.
The section doesn't describe strict foreclosure's mechanics -- it preserves whatever right existed under prior Illinois common law, leaving that body of law intact rather than folding it into the statutory judicial-sale procedure that dominates the rest of this Part.
Frequently Asked Questions
What does Section 15-1403 preserve?
A mortgagee's right to foreclose by common law strict foreclosure, as that right existed in Illinois on the effective date of Article XV.
Does Article XV eliminate common law strict foreclosure?
No. Section 15-1403 states that nothing in the Article affects that right.
Is strict foreclosure the same as the judicial sale process described elsewhere in Article XV?
No. It's a separate, older common law remedy that the Article leaves undisturbed rather than replacing with the statutory judicial sale procedure.
Where does Article XV generally require foreclosures to proceed?
Section 15-1405 generally requires foreclosure through the judicial process this Article sets out, but Section 15-1403 keeps common law strict foreclosure available as an exception.
Does Section 15-1403 create new rights for mortgagees?
No. It only preserves whatever strict foreclosure right already existed under Illinois common law.
Amendment History
(Source: P.A. 84-1462.)
Source & verification. Section text and amendment history are
reproduced verbatim from the Illinois Compiled Statutes, published by the
Illinois Compiled Statutes, Illinois General Assembly / Legislative Reference Bureau. Last verified July 20, 2026.
· Official source
Also known as: illinois common law strict foreclosurealternatives to judicial foreclosure illinoisstrict foreclosure illinois mortgage