Online bidding registration must be complete 24hrs prior to the live event.
Property Description
+/- 168.22 Acres, Offered in 3 Tracts
Catlin Twp. and Danville Twp. Vermilion County, IL.
Auction Time & Date:
Tuesday, 10:00 AM, January 9th.
Auction Location:
Turtle Run Banquet Center
332 E Liberty Ln, Danville, IL 61832
Productive Tillable Land
Commercial and Residential Development Potential
High Traffic Counts
Wooded Recreational Land
Open Farm Tenancy for 2024
T1: +/- 27.35 Acres; +/- 15.15 Wooded Acres, +/- 12.20 Tillable Acres, 125.6 PI
Standalone tract, cannot be bid on in combination.
Part of section 30, T19N- R12W Catlin TWP. Vermilion County, IL.
PIN# 22-30-200-017, Real Estate Tax = $614.54 = $22.47 per acre.
T2: +/- 56.67 Acres; +/- 51.64 Tillable Acres, 143.9 PI.
Part of section 32, T19N - R11W, Danville TWP. Vermilion County, IL.
PIN# 23-32-100-001, Real Estate Tax = $3,327.72 = $58.68 per acre.
T3: +/- 84.20 Acres; +/- 68.60 Tillable Acres, 129.2 PI
Part of section 32, T19N- R11W Danville TWP. Vermilion County, IL.
PIN# 23-32-100-010, Real Estate Tax Total = $3,461.10 = $41.11 per acre.
Land Broker and Auctioneer
Travis M Selby
IL AUCTION Lic.# 441001485
217-304-1686
Auction terms and conditions:
Procedure: T1 will be offered individually. Bidding for T2 and T3 will open after T1 bidding is closed.
T2 and T3 will be offered as individual tracts, and as a combination of T2 and T3. Bidding shall remain open until the auctioneer announces bidding closed.
The auction will be conducted publicly with online bidding available for pre-registered online bidders.
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: T1 closing shall take place 30 days after the auction day, or as soon thereafter as applicable closing documents are completed. The anticipated closing date for T1 shall be February 8th, 2024. T2 and T3 closing shall take place 45 days after the auction day subject to approval of Vermilion County, IL Circuit Court.
Possession: Possession will be given at closing. Open tenancy for 2024 crop year.
Survey: T1 will be sold per deeded acre. A new survey shall not be provided, and the sales shall not be subject to a survey.
A new survey has been provided for T2 and T3.
Title: Sellers shall provide an Owners Policy of Title Insurance in the amount of the purchase price and shall execute a 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 receive a tax credit from seller at closing for the 2023 real estate tax due and payable in 2024 in the amount of: T1: $614.54; T2: $3,327.72; T3: $3,461.10
The buyer shall be responsible for paying 100% of the 2023 real estate tax due and payable in 2024.
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.
T1 Seller: Carolyn J Schlorff
T2 and T3 Seller: Heirs of Dorthy Dunsmore
