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3 of 5 sites should bring $3M

Published: Wednesday, Jan. 2, 2013 5:01 p.m. CDT • Updated: Thursday, Jan. 3, 2013 1:45 p.m. CDT
Caption
(Alex T. Paschal/apaschal@saukvalley.com)
Rita Crundwell's home on Dutch Road in Dixon on Friday, Dec. 7, 2012, after being opened up to the media to tour and photograph.

DIXON – Three of Rita Crundwell’s five properties should bring more than $3 million.

The U.S. Marshals Service said Wednesday that it has entered into contracts with buyers who would pay more than $3 million for properties at 1403 Dutch Road and 1556 Red Brick Road and about 81 acres of farmland, all titled to the former Dixon comptroller who pleaded guilty to federal wire fraud in November.

Marshals also announced an unsolicited offer of $350,000 for 1679 U.S. Highway 52 in Dixon. Counteroffers will be accepted until 2 p.m. Jan. 25.

The service will not name the buyers or release the sale prices until the sales are finalized. The same buyer is not under contract for more than one parcel.

Closings are expected within the next 30 to 45 days.

Dating back to October, U.S. Marshals received unsolicited offers totaling $1.69 million on the three parcels.

Those offers and a process to make counteroffers were announced, which led to a total of 13 offers.

Since Crundwell was arrested April 17 for stealing nearly $53 million from the city, she has agreed to the liquidation of assets she acquired with proceeds from her fraud.

To date, the U.S. Marshals have recovered about $8 million from the online and live auctions of about 400 quarter horses, vehicles, trailers, tack, a luxury motor home and personal belongings from Crundwell’s homes in Dixon and Englewood, Fla.

The net proceeds will be given to the city as restitution.

No bids have been made on her home in Englewood, Fla., which is not yet officially up for sale.

 

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