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(A) Offers to purchase a property must be made in writing by sealed bid and submitted to the County Clerk, Tax Extension Department. Forms will be available for this purpose. The permanent index number of the subject parcel must be clearly identified on the outside of the sealed bid.
(B) In the first year in which the county offers a property for sale, the minimum bid amount shall be the current equalized assessed value, increased by the following: (a) 10%; plus (b) an additional amount equal to county expenses for maintenance of such parcel, if any, incurred following acquisition of the tax deed; plus (c) if requested, the value of an eligible municipality’s claim, payable to the eligible municipality. (As set forth in § 37.052, the minimum bid requirement does not apply to a qualified entity.) Additionally, the minimum bid amount shall not apply to bidders who own property adjacent to (i.e., sharing a border with) the property upon which a bid is submitted.
(C) Bids received for a parcel will be retained for 30 days after the initial bid on the parcel. After the completion of the 30-day period, each bid will be opened and evaluated.
(D) The County of Lake, Trustee, by and through the Lake County Clerk, reserves the right to accept or reject any or all bids at any time, and reserves the right to withdraw any parcel from the sale at any time. The County Clerk shall have the authority to withdraw a parcel from the sale and direct its conveyance to the previous owner or an interested party upon payment in full of all amounts remaining unpaid, or to convey the parcel to a governmental entity seeking to rehabilitate a derelict property, particularly where the property has created an economic burden for the municipality in which it is located. The exercise of such discretion shall be made by the County Clerk with full consideration of principles governing the rights and responsibilities of the County of Lake, Trustee, as set forth by applicable Illinois law. The County Clerk may seek input from the Finance and Administration Committee of the County Board, but any such consultation shall not bind the Clerk’s discretion in disposing of property.
(E) The successful bidder will be required to pay the amount bid plus a separate recording fee at the time and place of sale.
(F) The successful bidder is responsible for the current year’s general real estate taxes, which will be billed in the following year, except for bids from municipalities or similar units of local government, to which 35 ILCS 200/21-95 or 35 ILCS 200/21-100 apply.
(G) After receipt of full payment, Lake County, as Trustee, will quitclaim the property to the successful bidder or, if payment occurs prior to the time for issuance of a tax deed, then the county will assign its interest (including the certificate) to the successful bidder.
(H) To ensure that evidence of title is promptly recorded, the County Clerk will deliver the quitclaim deed to the Recorder’s Office, which will in turn send the recorded deed to the purchaser.
(Ord. 21-0420, passed 3-9-2021)