Home owned by Crown Point going on auction block
By Carrie Napoleon Post-Tribune correspondent February 18, 2013 10:10AM
Updated: February 19, 2013 8:09AM
CROWN POINT — A West South Street home purchased by the city about eight years ago for improvements to the water works is finally headed to the auction block.
“I am happy to report all the legal hurdles have been cleared,” said Keith Stevens, the city’s chief of staff. An auction of the home and property at 301 W. South St. is slated 1 p.m. April 6.
Bednar Auctions has been tapped to sell the corner lot home purchased by the city in around 2005 for the water utility. At the time officials expected the site could house a lift station to serve the neighborhood. However as time went on, design plans changed and it was determined the property would not be needed for those improvements.
Stevens previously has said selling the property would make the most sense because the home still has some value. If it were to sit too much longer unattended it would fall into further disrepair. In its present state it could be renovated and returned to the tax rolls to benefit the city.
An undisclosed reserve has been set on the auction based on appraisals of the property. State statute requires the city to obtain two appraisals and set a minimum bid of not less than 90 percent of the average of two appraisals for the auction.
“If they don’t meet the reserve it will not be sold. Any profits will be returned to the city,” Stevens said.
Auction fees will be paid for by the purchaser. Mayor David Uran said if the house does sell he would like that money returned to the utilities, since it was their money that purchased it.
“They can use this money for seed money,” Uran said.
More information about the auction can be found at www.bednarauctions.com. Interested buyers may also be able to arrange a showing by contacting 942-9074 or (312) 805-1809 in Illinois.