NAB Bank v. LaSalle Bank, N.A.

Illinois Appellate Court
Civil Court
Citation
Case Number: 
2013 IL App (1st) 121147
Decision Date: 
January 22, 2013
District: 
1st Dist.
Division/County: 
Cook Co.,1st Div.
Justice: 
DELORT
Holding: 
Affirmed.
(Court opinion corrected 1/24/13.) Sale price of $20,000, generated at a forced judicial sale of an undivided half-interest in a single-family home, even when compared to $120,000, which is one-half the full appraised value of the property, is not unconscionably low. Inadequacy of sale price alone is not sufficient reason to deny confirmation of judicial sale. Sale was just, as no defects in sale process were alleged, and fair sale price of a one-half interest in a single-family home must be significantly discounted from amount calculated by dividing in half value of entire property. (HOFFMAN and ROCHFORD, concurring.)