Ill. Admin. Code tit. 44, § 5000.810 – Local Government Offer to Purchase | Midpage
§ 5000.810
Ill. Admin. Code tit. 44, § 5000.810
Local Government Offer to Purchase
AUTHORITY: Implementing Section 7.1 of the State Property Control Act [30 ILCS 605/], implementing and authorized by Section 5-675 [20 ILCS 5/] of the Civil Administrative Code of Illinois. (General Provisions and Departments of State Government), Sections 405-215, 405-300, 405-305, 405-310 and 405-315 [20 ILCS 405/] of the Civil Administrative Code of Illinois. (Department of Central Management Services Law) and authorized by Section 6 of the State Property Control Act [30 ILCS 605/] and the Illinois Procurement Code [30 ILCS 500/].DEPARTMENT OF CENTRAL MANAGEMENT SERVICES
a) Any local governing body may submit a binding offer to purchase the property for not less than the established fair market value. Such offer must be received within 60 days of the date of notice given to the governing body. Offers received late may be accepted unless public sale would be more advantageous.
b) If two or more acceptable offers are received sale will be made to the highest bidder. However, if the city, town or village in which the property is located bid on the property they will be given 10 days from bid opening to match the higher bid. If the higher bid is matched the sale will be made to the city, town or village.
c) In the event of tie bids the first bid received will be accepted except as provided in B above.