Audit details Manteno golf-course sale, reverter buyout and net proceeds

Auditors reviewed the long history of the village golf course property, two deeds (one with a reverter clause) and legislative steps taken to remove the reverter clause so the property could be sold.

Auditors said the village pursued a legislative remedy in 2019 to remove the reverter clause; the report cites a Senate bill filed to authorize the state to remove the clause for Manteno and documents the associated process. The auditors reported the village paid $352,000 to buy out the reverter clause and estimated total related expenses at roughly $400,000. "The reverted clause cost the village $352,000," emeritus auditor Jim Edmondstone said during the presentation.

Sale details: auditors said the golf course (about 63 acres) was advertised locally, drew only one bid and sold for $600,000; auditors noted the appraiser's breakout showing roughly $570,000 allocated to land and about $30,000–$330,000 for personal assets depending on appraisal pages. The auditors' later parcel-by-parcel review found parts of the former course sold at higher per-acre rates after splitting parcels, and they concluded the village may not have realized full market value on the overall property sale.

Trustees and interested residents disputed some appraisal readings and said the village pursued the legislative route to clear title, with associated legal and administrative costs. One trustee pointed to the rollout and committee activity during the legislative process and asked whether the records fully documented village-level discussion and decision points.

Next steps: auditors included the complete appraisals and email chains in their exhibits and recommended the trustees review the records to ensure completeness and transparency; trustees said they will do so and that more documents will be posted once account numbers are redacted for public release.