Close

Local TopicWhat's the deal with these crazy free real estate transactions?

Local TopicWhat's the deal with these crazy free real estate transactions?
Go to top of page
‹ Back
Message Menu
MadScientist 100+ OP 
~ 3 days, 10 hrs ago    
What's the deal with these crazy free real estate transactions?
 
A house on this street has a demolition notice sign, which lead me to this other property.
Take a look at 2510 W Martin Luther King Junior Dr.
recorder.peoriacount y.gov/recorder/eagle web/docSearchResults .jsp?searchId=1
 
From 2014 to 2019 there are multiple city abatement liens. In 2020 the court gives the property to the city. In 2021 non profit P TOWN CAR CLUB gets it for $1. Then in 2022 it goes, Brian Monge, who I believe is the owner of the non profit, and then to Tucker Labertha for $10. Then to AG LLC in 2024 for $10. Two more city liens, then it is mortgaged in 2025.
 
I looked at the property tax records and it shows more realistic amounts, like a sale for $10,000. I must not understand the legal records properly, where it says $1.
propertytax.peoriaco unty.gov/parcel/view /1807380008/2025
 
From 2011 to 2018 it shows 8 SALE IN ERROR. A sale in error is when the government sells a property but makes a mistake in the description. The buyer is then legally allowed to reverse the transaction and then collect a substantial amount of interest on the money that is returned to them. Some buyers make a business of finding incorrectly listed properties so they can collect on the interest money.
 
What's interesting is from 1999 to 2018 PIONEER CIVIC SERVICES INC. owned the property. It seems like some king of money moving scam may have been going on. That non profit has shut down. www.pjstar.com/story /news/2012/08/20/not -for-profit-housing- agency/42396779
Have something to add to the discussion? Log in or sign up to comment.
Replies:
Message Menu
kraziebill 5k+17.5 yrs
~ 3 days, 9 hrs ago    
I must not understand the legal records properly, where it says $1. #msg1950848
 
@MadScientist : For it to be a legal document, it must show an amount, but doesn't have to reveal the actual sale price. It's quite customary to use the $1 method for these records.
skutfarcus reacted
Post a comment »

** Would you be interested in keeping up to date with news & events going on in the Peoria area? Consider supporting an alternative social media platform for Peoria by creating an account today! (it's fast, easy, privacy focused, and free!)


« Back to Chat
Views: 49
# Replies: 1

Don't miss what's happening in Peoria
People on Peoria.com are the first to know.