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Council declares foreclosed property surplus, sets $100,000 minimum bid
South Beloit City Council · March 30, 2026
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Summary
Council declared a foreclosed property surplus and amended the proposed ordinance to set a minimum bid of $100,000; staff cited a Winnebago County fair market value of $131,980 and said the city has incurred about $13,000–$14,000 in legal and related costs.
The South Beloit City Council voted on Feb. 16 to declare a foreclosed residential property surplus and to solicit bids with a council-amended minimum bid of $100,000. City staff said the parcel’s fair-market value, per Winnebago County taxpayer records, is $131,980 and that the city has incurred roughly $13,000–$14,000 in…
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