Illinois General Assembly - Illinois Compiled Statutes

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35 ILCS 200/21-225

(35 ILCS 200/21-225)

(Text of Section before amendment by P.A. 103-555)

Sec. 21-225. Forfeited property.

Every property offered at public sale, and
not sold for want of bidders, unless it is released from sale by the withdrawal
from collection of a special assessment levied thereon, shall be forfeited to
the State of Illinois. However, when the court, county clerk and county
treasurer certify that the taxes and special assessments not withdrawn from
collection on forfeited property equal or exceed the actual value of the
property, the county collector shall, on the receipt of such certificate, offer
the property for sale to the highest bidder, after first giving 10 days'
notice in counties with less than 10,000 inhabitants, according to the most recent federal decennial census, and 30 days' notice in all other counties, in the manner described in Sections 21-110 and 21-115, of the time
and place of sale, together with a description of the property to be offered. A
certificate of purchase shall be issued to the purchaser at the sale as in
other cases provided in this Code. The county collector shall receive credit in
the settlement with the taxing bodies for which the tax was levied for the
amount not realized by the sale. The amount received from the sale shall be
paid by the collector, pro rata, to the taxing bodies entitled to it.

(Source: P.A. 97-557, eff. 7-1-12.)

(Text of Section after amendment by P.A. 103-555)

Sec. 21-225. Forfeited tax liens and certificates.

Every tax lien or certificate for property offered at public sale, and
not sold for want of bidders, unless it is released from sale by the withdrawal
from collection of a special assessment levied thereon, shall be forfeited to
the county, as trustee for the taxing districts, and managed pursuant to Section 21-90. Tax certificates are also forfeited to the county in those circumstances described in subsection (d) of Section 21-310 and subsection (f) of Section 22-40 of this Code.

(Source: P.A. 103-555, eff. 1-1-24.)