The property, which is roughly bordered by First Street on the north, Clay Street on the east, Newell Street on the south, and railroad tracks on the west, has a long history in Woodstock. It is best known, however, as the Woodstock Die Cast property… . a foreclosure judgment of about $4.725 million was entered earlier this year. Of that, about $4.3 million was principal, about $329,000 was interest, about $60,000 was taxes, and late charges accounted for about $5,198.
… the property is scheduled to be sold at 10 a.m. Thursday in Room 262 at the McHenry County Sheriff’s Office.
city …[obtained] the property in the 1980s through a water lien after Woodstock Die Cast vacated the property. The city was required to clean up the land to satisfy the Illinois Environmental Protection Agency before it could be developed. The city also acquired three neighboring properties as part of the redevelopment effort. …All in all, the city’s cost was about $2.5 million….A tax increment financing district that includes much of downtown is being used to make the yearly $200,000 payment on bonds associated with the city’s cost
Click on the following for more details: Northwest Herald | Project put up for auction
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