Derwood K. Ruggles Estate

Make plans to participate in this live on-site only real estate auction! We will also be selling Derwood’s pickups, Bobcat skid loader, trailers, antiques, collectibles, firearms, furniture and tools in partnership with Webster Auctioneers. The personal property portion of the auction will be a 2-ring auction, so bring a friend!

The Ruggles real estate is located at 706 NW 5th Ave, Aledo, Mercer County, IL. This is a very nice single level 5202 sq. ft. Stran Steel building located on two large lots in the city limits of Aledo. Loaded with unlimited potential, this offering will be sold in two tracts. Tract 1 is the steel frame building which houses a very nice two-bedroom apartment and a large shop area as well as recently built open-front two-bay building. The second Tract is a large open lot ready for your improvements.

For private showings, call auction manager Dale Jones at (309) 299-6400.

TRACT 1

• Stran Steel 51ft. X 102ft. steel framed building built in 1969
• Concrete floors throughout
• New Duro-Last PVC membrane roof 2022
• Very nice 2BR apartment
• 1 ½ bathrooms
• 2-bay open-front building constructed in 2023
• .93 taxable acres
• Meticulously maintained park-like setting!

TRACT 2

• Open lot ready for your new home or other venture!
• 1.21 acre taxable acres

Tracts 1 & 2 will be sold individually for a lump-sum, total dollar amount for each tract,  based on the legal descriptions and taxable acres.

The tracts will NOT be offered in their entirety at the conclusion of the auction.

Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property.

Immediately following the auction, the successful buyer(s) will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing which will take place on or before 5:00 pm on Tuesday, October 15th, 2024. The seller will provide an executor’s deed, title insurance in the full amount of the purchase price and pay the 2023 real estate taxes, due and payable in 2024. The 2024 real estate taxes due in 2025 (estimated as a credit to the buyer at closing, based on the most current tax information) will be paid by the buyer. Buyer will be responsible for the taxes accruing in 2024 and all subsequent real estate taxes. Possession will be given at the time of closing.

All announcements made on sale day shall take precedence over prior advertising, either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate, however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no express or implied warranties made by the seller or Merit Auctions pertaining to the real estate, which is being sold “AS IS”.