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Local

'Mooney property' in downtown DeKalb draws no bidders

Property will go back to the bank

A former auto dealership is shown at 204 North 4th Street in DeKalb.
A former auto dealership is shown at 204 North 4th Street in DeKalb.

DeKALB – There was no love for propertieson Locust Street and 204 N. Fourth St. at a public auction on Thursday.

No one submitted a bid for the properties, which collective have become known as the "Mooney property," at an auction at the DeKalb County Sheriff's Office in Sycamore. Office Coordinator Ashley Carlson said because the property had no interested bidders, it will be returned to the bank with a value of $530,900.

The former Mike Mooney's General Motors auto dealership buildings are now bank-owned, and consists of three different properties The building has been home to several auto dealerships since the 1940s. It also was DeKalb's last barbed wire factory.

It could go up for auction again, though.

"There has to be another court date for [the bank] to have in order to approve another [auction]," Carlson said.

The building has been vacant since 2012, when Mooney sold the dealership but not the building. The Kiwanis Club of DeKalb park cars in the property's lots during Corn Fest every year.

Notably, the city of DeKalb just voted Monday to create a third tax increment finance district (known as 'TIF 3'), which will include downtown DeKalb and the Mooney property. City Manager Bill Nicklas has said the city is not interested in purchasing the property.

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