Is my condo a distressed property?I live in a condo development and my unit is in a building of 10 units. 3 units are occupied by owners, 1 unit has been empty for over two years after foreclosure, while the remaining units are occupied by renters. I am certain that this phenomenon is similar across the other buildings in the development. Does this qualify as a distressed property? I am hoping for recommendations on what actions can be taken...Not looking for your typical "wait it out" or "walk away" advice either. Is the brief outline above seemingly enough to seek legal advise and/or action?September 21 2012 - Schaumburg00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.