Chicago-based independent real estate brokerage Baird & Warner has launched a foreclosure search tool on its Web site, the company announced Monday.

The company said it has seen a 276 percent increase in traffic since the tool’s debut a month ago. The tool allows users to search for foreclosures by neighborhood, property type, price range, school districts, amenities, or mapped sections of the Greater Chicago area.

"The foreclosure transaction is vastly different today than it was five or 10 years ago," said John D’Ambrogio, the company’s vice president of strategic development, in a statement. "Years ago only a few people specialized in these transactions. Often buyers (hadn’t) even seen the property, they merely invested in its potential."

D’Ambrogio heads the company’s bank-owned (REO) properties division and said he has seen increased buyer demand for easy access to the large number of foreclosures on the market.

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