(770 ILCS 70/16)
(from Ch. 82, par. 516)
Sale pursuant to foreclosure.
A. In all actions to enforce
a lien under the provisions of this Act, the court shall, for cause,
appoint a receiver with the usual powers granted in equity to operate the
leasehold, subject to the lien or liens being enforced and, upon request by
plaintiff, the court shall appoint a receiver or other person to conduct the
sale of the property subject to the lien or liens being enforced.
1. No property, real or personal, shall be sold by virtue of any
judgment of foreclosure under this Act, except at public sale, between the
hours of 9:00 a.m. and 5:00 p.m., and pursuant to the procedures of this
2. The receiver or other person conducting the sale shall give public
notice of the sale as follows:
(a) The notice of sale shall include at least the following information,
but an immaterial error in the information shall not invalidate the legal
effect of the notice:
(1) The case, title, case number and the court in which the foreclosure
(2) The time and place of the sale;
(3) If the leasehold is sold, a legal description sufficient to identify
it with reasonable certainty;
(4) If personalty is sold, a description thereof sufficient to identify
it with reasonable certainty, its location and times and place where it may
be inspected prior to sale;
(5) The name, address and telephone number of the person conducting the
(6) The terms of the sale; and
(7) Such other information order by the court.
(b) The notice of sale shall be published at least three consecutive
calendar weeks (Sunday through Saturday,) once in each week, the first of
such notices to be published not more than 35 days prior to the sale, the
last such notice to be published not less than 7 days prior to the sale by
an advertisement in a newspaper circulated to the general public in the
county in which the foreclosure action was brought.
C. The person conducting the sale shall also give notice to all parties
in the action who have appeared and have not theretofore been found by the
Court to be in default for failure to plead. Such notice shall be given in
provided in the applicable rules of Court for service of papers other than
process and complaint, not more than 28 days nor less than 7 days prior to
the day of sale. After notice is given as required in this Section, a copy
thereof shall be filed in the office of the Clerk of the Court entering the
judgment, together with a certificate of counsel or other proof that notice
has been served in compliance with this Section.
D. The person conducting the sale shall again give notice in accordance
with this Section of any adjourned sale; provided, however, that if the
adjourned sale is to occur less than 30 days after the last scheduled sale,
notice of any adjourned sale need be given only once, not less than 5 days
prior to the date of the adjourned sale.
E. No other notice by publication or posting shall be necessary unless
required by order or rule of the Court.
F. Upon sale of any property, the person conducting the sale shall give
to the purchaser a certificate describing the property purchased by him or
her, showing the amount paid therefor, or if purchased by the holder of the
lien or liens being enforced, the amount of his or her bid.
G. There shall be no right of redemption from foreclosure sale under
this Act and all rights and equities of redemption from any judgment of
foreclosure are barred.
H. The person conducting the sale shall promptly make a report to the
court and upon motion and notice in accordance with court rules applicable
to motions generally, the court shall conduct a hearing to confirm the
sale. If the court finds that notice of the sale required with subsections
B, C, D and E were given and that the sale was not conducted fraudulently,
the court shall then enter an order confirming the sale and giving
possession of the property to the purchaser. The confirmation order may also;
1. approve the receiver's fees and costs arising between the entry of
any judgment or order appointing the receiver and the confirmation hearing;
2. provide for a personal judgment against any party for a deficiency.
I. Upon confirmation of the sale, the person who conducted the sale or
the court shall execute an instrument to the holder of the certificate of
sale sufficient to convey title to the property purchased, which instrument
shall identify the court and the caption of the case in which judgment was
entered. Signature and recital in the instrument of the title or authority
of the person signing the instrument conveying title, of authority pursuant
to the judgment and of the giving of the notices required by this Section
is sufficient proof of the facts required and of such authority to execute
the instrument of conveyance, but such instrument shall not be construed to
contain any covenant on the part of the person executing it.
J. The court granting the judgment of foreclosure may make further
orders to enforce possession of the property purchased under any sale of
(Source: P.A. 86-377.)