No. "On hold" is a temporary suspension and a foreclosure may still proceed at a future date. Chicago is troubled with the large inventory of foreclosed homes that can't be sold and the volume is too much to handle at times. In Chicago's Chancery Division there is a Chancery advice desk where information might be obtained on the process.
Also, Illinois Legal Aid Online has helpful articles on the topic.
The information provided here should not be construed to be formal legal advice. The provision of this general advice does not create a lawyer-client relationship. Persons with legal questions are encouraged to seek independent counsel for advice regarding their individual legal issues.