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Former Rock Island livestock auction house in foreclosure – Quad

ROCK ISLAND — A complaint to foreclose has been filed against the former Rock Island Livestock Auction Inc.

The complaint was filed in July by Charlotte R. Doonan, not individually, but as the trustee of the Charlotte R. Doonan 2002 Revocable Trust dated Sept. 27, 2002.

The auction house is located at 534 34th Ave.

According to the complaint, the present indebtedness is $359,980 in principal and $29,398 in interest through May 1, 2016.

The note and mortgage were assigned by Buffalo Prairie State Bank, an Illinois banking corporation, on March 26, 2015, to Ms. Doonan, not individually, but solely as the trustee of the Charlotte R. Doonan 2002 Revocable Trust dated Sept. 27, 2002.

Ms. Doonan passed away in October. According to her obituary, she was most recently chairman of the board of Buffalo Prairie State Bank.

The original date of the mortgage was Dec. 10, 2009, with Rock Island Livestock Auction Inc. borrowing $400,206 from Buffalo Prairie State Bank. According to the complaint, Dave Porth was the president of Rock Island Livestock at the time.

The complaint seeks a foreclosure judgment against Rock Island Livestock Auction Inc., unknown owners, non-record claimants and interested persons.

It also seeks an order granting a shortened redemption period, an order granting possession, a judgment allowing sale of the property by a qualified realtor or auctioneer to hold a public or private sale as the court may direct, and/or that a sheriff’s sale proceed upon entry of a judgment.

It is also seeking a judgement for attorney’s fees, costs, and expenses.

The livestock auction house has a long history in the city. For 75 years, cattle arrived at Rock Island Livestock Auction Co. in the southwest section of the city, at times 2,000 head waiting outside to be auctioned off.

The packing houses would arrive on Mondays, buying what cattle was available. Mr. Porth worked at the company for 49 years, 27 of which he said he was the owner. In the spring of 2016, New York farmer Brandon Jones arrived in Rock Island and took over the business, renaming it Jones Livestock.

The business has been closed in recent months. Attempts to contact Mr. Jones were unsuccessful. Matthew Hays, attorney for the plaintiff, said he could not comment on pending litigation.

A court date has not been set on the complaint.

Article source: http://www.qconline.com/news/local/former-rock-island-livestock-auction-house-in-foreclosure/article_e6ae3012-63a1-5c66-8fd3-e3a45ff950d9.html

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