Rita Crundwell
4:48 am
Thu January 3, 2013

Crundwell's Properties Sell for $3 million

The U.S. Marshals Service has entered deals for more than $3 million with buyers on the sale of three of five properties owned by Rita Crundwell, the former comptroller of Dixon, Ill. She pleaded guilty to a federal charge of fraud in November.

Rita Crundwell's primary Dixon residence
Credit Jenna Dooley / WNIJ

According to a release, U.S. Marshals received unsolicited offers totaling $1.69 million on three pieces of Crundwell's property in October.  A total of 13 counter-offers were received. The same buyer is not under contract for more than one parcel. The Marshals will not release sale contract prices or the identity of buyers. This information will become public through the offices of the Lee County, Ill., Clerk & Recorder, Treasurer and County Assessment. Closings are expected within the next 30 to 45 days.

What's next

The Marshals say they have received an unsolicited offer of $350,000  on a fourth Crundwell-owned property, also located in Lee County. Counteroffers will be accepted until 2 p.m. CST Jan 25. An open house will be held Jan. 11, 12 and 18 between 10 a.m. and 1 p.m.

Background

Crundwell, 59, was one of the leading breeders of quarter horses in the U.S. Formerly the comptroller of Dixon, Crundwell pleaded guilty to a federal fraud charge in U.S. District Court in Northern Illinois Nov. 14. Crundwell agreed she owes restitution to the city of Dixon totaling $53,740,394. Since she was arrested April 17, Crundwell has agreed to the liquidation of assets she acquired with proceeds from her decades-long fraud scheme. To date, the U.S. Marshals Service has recovered approximately $8 million from the online and live auctions of approximately 400 quarter horses, vehicles, trailers, tack, a luxury motor home and personal belongings from her homes in Dixon, Ill., and Englewood, Fla. The net proceeds from the forfeited property will be held in escrow pending further proceedings on restitution to the victim of the offense.

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