On December 3, 2010, only two after taking office for his four-year term as Sheriff of McHenry County, Keith Nygren sold his house in Hebron to Bryan Krause, his subordinate, employee and head of the County garage facility that services sheriff's department vehicles.
If Nygren were put under oath, or if Bryan were, when would they say they had begun to plan that real estate transaction. Before December 3? Before December 1? Before November 2, which was Election Day in McHenry County?
When did Bryan apply for his mortgage to buy a house for $250,000 that very likely was worth about $170,-180,000 on December 3? Does he have a friend in the banking business who made him a very good deal on a loan? What was the true Fair Market Value of 10213 Meadow Lane in Hebron on December 3?
Nygren wasn't too concerned "about security" during the years he owned that house in Hebron. If anyone wanted to find out where he lived, a quick visit to the Treasurer's Office or the Recorder's Office would have provided the answer.
If it wasn't a problem before December 3, why is it now? Or is it?
To legally hold the Office of Sheriff of McHenry County, Nygren must be a resident of the County. Is he? As the people of Chicago are finding out, intent is an important element of residency.
If Nygren sold the Hebron home and Mrs. Nygren is a Florida resident and living in Cape Coral, Florida and assuming that they aren't divorcing, what odds would Jimmy the Bookmaker lay on Nygren's hanging around in McHenry County?
Is he getting his ducks lined up, so that he can resign (retire?) and clear out of state?
For many homeowners the interest on the primary's home mortgage is an important tax consideration. Renters don't get that deduction. A decent apartment, sufficient in size to hold his familiar household furnishings, would cost $1,500-2,000/month - in after-tax dollars. Is Nygren in a 40-50% total income tax bracket, effectively pushing his monthly housing cost to $36,-48,000/year out of his $145,000 salary? Why wouldn't he want to continue to own?
Or is he renting a room (or the entire house he just sold) from Bryan on some kind of a sweetheart deal; say, $200/month? If he rents the room/house for less than FMV, won't Bryan be gifting the difference to him? And, of course, filing the appropriate Federal and Illinois Gift Tax Returns?
And, if Nygren did get, say, $70,000 more than the FMV of the house on the date of sale, would that excess be a gift to him from Bryan?
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6 comments:
I have it on good authority that Keith and Marge were seen wearing tie-dyed pants and beads, trying out a new RED VW Microbus. They were saying something about their hero drove a RED VW Beetle, then everyone was going to go grooov'n.
You know? When I got that call to meet over at the VW dealer for a photo op, I thought it was a crank call.
Thanks, Justin!
See this could be the start of something big. Afterwards you guys can go to the Red Mill and toss back a few cold ones. I want a 5 x 7 autographed glossy. Just think Gus; a chance to be just like Obama and the Republicans. Both side of the isle sitting together. I can see it now… Cats and dogs living together…VW’s parked side by side. I have visions of the two of you with long hair flowing, wearing headbands, chillin in the park. Oh please turn up the radio, listen to the Young Rascals, loving the harmonica?
Life would be ecstasy, you and me endlessly...
Groovin' ... on a Sunday afternoon
Really couldn't get away too soon —
Justin, OK, I'll start on my ponytail, but I'm still a long way from autographing that 5x7 for you. Now I would be willing to autograph one of my yard signs for you...
Keep an eye on FirstElectricNewspaper at www.firstelectricnewspaper.com for Breaking News soon.
This exchange is funny! Back to reality, I saw Keith Nygren and he looks like a man under an extreme amount of stress. He has a walking cast on his legs. His diabetes must be bad. Congentital heart disease looks as if it is also taking it's toll.
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