FARMLAND AUCTION
+/- 669 Acres, 10 Tracts
Fayette County, IL.
Loudon, Avena, Otega, and Wheatland TWPs.
Auction Time & Date:
Thursday, 3:00 PM, July 28th
Auction Location:
Carriage House Event Center
8 West Carriage Lane, Altamont, IL 62411
Buyer receives landowners share of the 2022 cash rent.
1/3 owner, 2/3 tenant crop lease.
Oil Production Revenue
Mature Marketable Timber
Excellent Hunting and Recreational Opportunities
T1: +/- 46 wooded acres, mature marketable timber. Oil production revenue.
PIN 10-08-27-100-008 and a portion of PIN# 10-08-27-200-00.
SEC 27-T8N-R3E LOUDON TWP. Fayette County, IL.
Estimated Real Estate Tax: $92.00 = $2.00 per acre.
T2: +/- 34.00 Acres, +/- 33 tillable acres, 99.2 PI. Oil production revenue.
Part of PIN 10-08-27-200-005; SEC 27-T8N-R3E. LOUDON TWP. Fayette County, IL
Real Estate Tax: $362.00 = $10.65 per acre.
T3: +/- 40 Acres, 100% tillable, 99.4 PI.
PIN 01-12-03-300-003; SEC 3-T7N-R3E, AVENA TWP. Fayette County, IL
Real Estate Tax: $517.08 = $12.93 per acre.
T4: +/- 40 Acres, +/- 39.5 tillable acres, 99.2 PI.
PIN 01-12-09-200-002; SEC 9-T7N-R3E, AVENA TWP. Fayette County, IL
Real Estate Tax: $488.58 = $12.21 per acre.
T5: +/- 80 Acres, +/- 78.50 wooded acres, +/- 1.5 tillable acres.
Mature marketable timber, FORESTRY PLAN
PIN 01-12-09-200-003; SEC 9-T7-R3E, AVENA TWP. Fayette County, IL
Real Estate Tax: $200.24 = $2.50 per acre.
T6: +/- 80 Acres, +/- 75.75 tillable acres, 101.5 PI. Oil production revenue.
PIN 11-15-12-400-002; SEC 12-T6-R2E, OTEGO TWP. Fayette County, IL
Real Estate Tax: $1,113.72 = $13.92 per acre.
T7: +/- 189 Acres, +/- 26.69 wooded acres, +/- 162.31 tillable acres, 106.4 PI.
PIN 19-16-07-300-001; SEC 7-T6N-R3E, WHEATLAND TWP. Fayette County, IL
Real Estate Tax: $2,614.28 = $13.83 per acre. Oil production revenue.
T8: +/- 37 Acres, +/- 6 wooded acres, +/- 30 tillable acres, 106.2 PI
PIN 11-15-13-200-002; SEC 13-T6N-R2E, OTEGO TWP. Fayette County, IL
Real Estate Tax: $511.24 = $13.81 per acre. Oil production revenue.
T9: +/- 77.50 Acres, +/- 10.50 wooded acres, +/- 64 tillable acres, 101.2 PI
FORESTRY PLAN, Part of PIN 11-15-23-100-001; SEC 23-T6N-R2E, OTEGO TOWNSHIP, Fayette County, IL
Real Estate Tax: $1,147.60 = $9.56 per acre, estimated.
T10: +/- 42.50 Acres, +/- 29.25 wooded acres, +/- 13.25 tillable acres, 99.9 PI
FORESTRY PLAN, Part of PIN 11-15-23-100-001; SEC 23-T6N-R2E, OTEGO TOWNSHIP, Fayette County, IL
Real Estate Tax: $1,147.60 = $9.56 per acre, estimated.
Auction terms and conditions:
Procedure: The farm will be offered as 10 individual tracts T1 – T10. Combinations will offered for T3-T4 and T6-T7. 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 at the live event.
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.
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 33 days after auction day, or as soon thereafter as applicable closing documents are completed.
The anticipated closing date shall be Tuesday, August 30th.
Possession: Possession will be given at closing subject to the existing 2022, 1/3 owner, 2/3 farmer crop lease. Buyer shall receive the owners 1/3 share of the 2022 crop cash rent payment do and payable to buyer Dec 1st, 2022.
Survey: A new survey shall be provided where there is no existing legal description. Any need for a new survey shall be determined solely by the seller. The cost of a new survey will be split equally between buyer and seller. The type of survey performed shall be at the sellers option and sufficient for providing title insurance. The final sale price will be the high bid amount times the surveyed acres.
Title: Sellers shall provide an Owners Policy of Title Insurance in the amount of the purchase price and shall execute a Trustees 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 will assume and pay 100% of the 2022 real estate tax due and payable in 2023.
Mineral Rights: The sale of the property shall include all mineral rights owned by the seller.
Agency: Ag Exchange Inc. and their representatives are exclusive agents of the Seller.
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: Elizabeth Lewis and Michael Lewis, Co Trustees of the Jordan D Lewis Jr Living Trust.
