Online bidding registration must be complete 24hrs prior to the live event.
Property Description
SOLD at Auction $17,600 per acre
FARMLAND AUCTION
+/- 156.71 Acres, Hurlbut TWP. Logan County, IL.
10 AM, Tuesday, September 10th
Auction will be held at:
Lincoln Banquet Center
201 Madigan Drive,
Lincoln, IL 62656
Live in Person, Public Auction with Online Internet Bidding.
Highly Productive, Class A Soils, 141.9 PI.
1 mile rows.
Buyer will assume the owners 50% share crop agreement obligation for the 2024 crop year.
Open farm tenancy for 2025 crop year.
Lease and Easement Agreement for Wind Energy Project
+/- 156.71 acres in total
The farm is all tillable except for the county roadside ditches.
FSA indicates +/- 155.42 tillable acres, 141.9 PI.
5 yr APH: Soybeans: 74 bu/acre; Corn: 246 bu/acre.
Part of the south 1/2, of the south 1/2, of section 2, T18N-R4W, Hurlbut TWP. Logan County, IL.
Assessor Parcel Number: 14-002-003-50.
2023 payable 2024 real estate tax = $8,696.02 = $55.49 per acre.
Possession will be given at closing subject to the 2024 crop share agreement.
Buyer receives a base payment of $250 per tillable acre at closing = $38,855.00
Crop share agreement.
Tenant furnishes labor, machinery, applications, and hauling.
Lessor receives 50% of the crop, minus 50% of input cost, less the base payment, on or before Dec 20th, 2024.
Refer to lease for additional information.
Lease and Easement Agreement for Wind Energy Project: The Property is subject to a lease and easement agreement for wind energy project dated January 9th, 2021. The Wind Easement Agreement covers said 156.71 acres.
Travis Selby
Land Broker and Auctioneer
IL Lic.# 441001485
Mobile Phone: 217-304-1686
Terms and Conditions:
Day of Auction Procedure: The property will be offered as one individual 156.71 acre tract. The auction will be conducted publicly with online bidding available for pre-registered online bidders. Bidding shall remain open until the auctioneer announces bidding closed.
Online Bidding Procedure: The online pre-bidding begins Friday, September 6th, 2024, at 8:00 AM(CST) closing Tuesday September 10, 2024, at the close of live the event.
All bids on the tracts will be visible online, the identity of the bidders is confidential.
Server and Software Technical Issues: In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, Ag Exchange reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Ag Exchange shall be held responsible for a missed bid or the failure of the software to function properly for any reason. E-mail notification will be sent to registered bidders with updated information as deemed necessary by Ag Exchange.
BIDDING IS NOT CONDITIONAL UPON FINANCING.
Acceptance of Bid Prices/Contracts: All successful bidders will sign a sale contract at the auction site immediately following the close of the bidding. Copies of such contracts are available for review at the office of the auctioneer.
Down Payment: A 10% earnest money deposit of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of a personal check, business check, or cashiers check. The balance of the contract purchase price is due at closing.
Closing: Closing shall take place 31 days after auction day, or as soon thereafter as applicable closing documents are completed. The anticipated closing date is on or before October 11th, 2024.
Possession: Possession will be given at closing subject to the current 2024 crop lease agreement. Buyer shall receive lease payment of $38,855.00 at closing. Refer to lease for details. Possession is also subject to a lease and easement agreement dated January 9, 2021 for a wind energy project. Wind Easement Agreement covers said 156.71 acres.
Title: Sellers shall provide an Owners Policy of Title Insurance in the amount of the purchase price and shall execute a warranty deed conveying to the buyer(s). Sellers shall pay the premium for the Title Insurance Policy and the sellers search charges. Commitments for Title Insurance will be available for review at the office of the auctioneer and at the auction site. Bidders shall be deemed to have reviewed and approved the Title Commitments by submitting bids.
Real Estate Taxes and Assessments: Buyer shall be responsible for 2024 real estate taxes due and payable in 2025.
Mineral Rights: The sale of the property shall include all mineral rights owned by the seller.
Agency: Ag Exchange Inc. and its representatives are Exclusive Agents of the Seller.
Survey: A new survey shall not be provided, and the sale shall not be subject to a survey. The land will sell per deeded acre.
Disclaimer and Absence of Warranties: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the sales contract.
ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.
The property is being sold on an as is basis, and no warranty or representation either expressed or implied, concerning the condition of the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning this property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the sellers or the auction company. All sketches and dimensions in this brochure are approximate. Photographs are used for illustrative purposes only. Conduct at the auction and increments of the bidding are at the discretion of the auctioneer. The sellers and the auction company reserve the right to preclude any person from bidding and to remove any person from the auction if there is any question as to the persons credentials, fitness, conduct, etc. All decisions of the auctioneer are final.
Sellers: Kimberly Schmidt, Amy Wilson, Bryan D Schmidt, and Kevin Schmidt.
