2498 Co Rd 550 E, Dewey, IL 61840 Property Records

Champaign County property record for 2498 Co Rd 550 E, Dewey, IL 61840

Property Summary

Property Type	Single Family Home
Lot Size	5.22 acres (227,383 sqft)
Owner	2 Individual Names on Record
Last Sale	$510,000 (Dec 2012)
Tax Bill	$7,750 (2024)
Deeds & Mortgages	Oct 2023 Line of Credit Apr 2021 Mortgage + 2 more
Flood Zone	Zone A (high risk)
APN	`16-07-36-200-018`

Property Details

APN / Parcel Number

Primary APN	`16-07-36-200-018`

Exterior

Lot Area	227,383 sqft (5.22 acres)

Location & Zoning

Street Address	2498 COUNTY ROAD 550 E
City	DEWEY
State	IL
Zip	61840-9725
Property Category	Residential
Property Type	Residential > Single Family > Home
Legal Description	LOT PT 1 SUMMERFIELD EAST SUB
Legal Range	07E
Legal Township	21N
Legal Section	36
Legal Subdivision	SUMMERFIELD EAST SUB
Legal Lot Number	1
Jurisdiction	CHAMPAIGN IL
Township / Civil Division	NEWCOMB
Census Block Group	3
Census Block	3065
Census Tract	10500

Owner

Source: Champaign County records, as of April 29, 2026

Owner names and exact recorded amounts shown locked on this page are available instantly with a free trial.

Owner of Record	2 Individual Names on Record
Mailing Address	2498 COUNTY ROAD 550 E, DEWEY, IL 61840-9725
Occupancy	Owner Occupied
Owner Type	Individual
Vesting	Tenants by the Entirety

Deeds, Mortgages & Sale History

Date	Document
Oct 5, 2023	Deed of Trust, Mortgage · Line of Credit BUSEY BANK
Apr 12, 2021	Deed of Trust, Mortgage · Conventional Mortgage CARROLLTON BANK
Apr 5, 2022	Deed of Trust, Mortgage · Conventional Mortgage BUSEY BANK
May 3, 2021	Deed of Trust, Mortgage · Line of Credit CARROLLTON BANK

Assessor's Deed Record

Deed Names	2 Names on Deed
Last Sale	Dec 10, 2012 · Amount on Record
Deed Sale	Dec 10, 2012 · Amount on Record
Deed Document Number	201231459
Record Updated	Jun 8, 2026

October 2023: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	CHAMPAIGN IL
Property Address	2498 COUNTY ROAD 550 E, DEWEY, IL 61840-9725
Transaction Type	Mortgage
Record Updated	Oct 16, 2023

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	0000014340
Date	Oct 5, 2023
Instrument	2023R14340

Lender

Name	BUSEY BANK
Type	Bank
Address	CHAMPAIGN, IL 61820

Agreement

Type	Line of Credit
Amount	Amount Recorded
Term	239 Months
Due	Sep 26, 2043

Interest

Rate Type	Adjustable Rate
Change Frequency	Monthly

April 2021: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	CHAMPAIGN IL
Property Address	2498 COUNTY ROAD 550 E, DEWEY, IL 61840-9725
Transaction Type	Mortgage
Record Updated	Apr 28, 2022

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	0000008357
Date	Apr 12, 2021
Instrument	2021R08357

Lender

Name	CARROLLTON BANK
Type	Bank
Address	SPRINGFIELD, IL 62704

Agreement

Type	Conventional Mortgage
Amount	Amount Recorded
Term	361 Months
Due	May 1, 2051

Interest

Rate Type	Fixed Rate
Rate	3.37%

April 2022: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	CHAMPAIGN IL
Property Address	2498 COUNTY ROAD 550 E, DEWEY, IL 61840-9725
Transaction Type	Mortgage
Record Updated	Apr 15, 2022

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	0000006092
Date	Apr 5, 2022
Instrument	2022R06092

Lender

Name	BUSEY BANK
Type	Bank
Address	CHAMPAIGN, IL 61820

Agreement

Type	Conventional Mortgage
Amount	Amount Recorded
Term	180 Months
Due	Apr 1, 2037

Interest

Rate Type	Fixed Rate
Rate	2.25%

May 2021: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	CHAMPAIGN IL
Property Address	2498 COUNTY ROAD 550 E, DEWEY, IL 61840-9725
Transaction Type	Mortgage
Record Updated	May 18, 2021

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	0000010266
Date	May 3, 2021
Instrument	2021R10266

Lender

Name	CARROLLTON BANK
Type	Bank
Address	SPRINGFIELD, IL 62704

Agreement

Type	Line of Credit
Amount	Amount Recorded

Interest

Rate Type	Adjustable Rate
Change Frequency	Monthly

Tax Assessment & Valuation

Source: Champaign County assessment roll, as of April 29, 2026

Property Jurisdictions

Type	Name
State	Illinois
County	Champaign County
County Subdivision	Newcomb Township
Unified School District	Mahomet-Seymour Community Unit School District 3 (PK - 12)

Tax Bill & Assessment History

Year	Tax Bill	Assessed Value	Assessed Market Value
2025		$126,360 (+29.14%) Land $26,900 Building $99,460	$379,080 (+29.14%) Land $80,700 Building $298,380
2024	$7,750.00 (+17.73%)
2022	$6,583.00 Homeowner's exemption	$97,850 Land $20,830 Building $77,020	$293,550 Land $62,490 Building $231,060

Assessed value and assessed market value are set for property tax purposes, not market price estimates; both are a fraction of this property's market value.

Flood

Source: FEMA National Flood Hazard Layer, effective July 14, 2021 · OpenFEMA NFIP redacted claims and policies, as of September 2026

FEMA Flood Zone	Zone A high risk
100-Year Floodplain	Yes 1% annual chance
Floodway	No
Base Flood Elevation	Not determined for this zone
Flood Insurance Requirement	Required federally backed loans
Nearby Flood Policies	9 in force
Nearby Flood Claims	3 (1994–2008)
Most Recent Claim	Jun 2008 · alluvial fan flooding

Values are read at the parcel center point; flood claims are located to the census block group, not this parcel; lenders make the official flood determination.

Wildfire

Source: USDA Forest Service Wildfire Risk to Communities (2nd edition), as of 2024

Wildfire Risk	Low lower than 80% of the US · above 71% of Illinois
Wildfire Likelihood	0.01% annual chance
Exposure	Direct burnable vegetation

Values cover an area roughly 900 ft across, not the parcel itself; insurers use their own ratings.

Internet Providers

Source: FCC Broadband Data Collection, based on 13 locations within half a mile, as of December 31, 2025

Provider	Max Down / Up (Mbps)
Verizon Fixed Wireless	300 / 20
Starlink Satellite	280 / 30
Volo.net Internet+Tech Fixed Wireless · Fiber in parts of the area	50 / 50

May also be available: Frontier, Mediacom Xtream, Nextlink.

Cell Coverage

4G LTE (outdoors only), no 5G reported

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