Online bidding registration must be complete 24hrs prior to the live event.
Property Description
FARMLAND AUCTION
+/- 320.15 Acres, 5 Tracts
Clayton Twp. Woodford County, IL.
Auction time & Date:
10 AM, Wednesday, June 12th
Auction Location:
El Paso South Pointe Park Community Building
523 S Sycamore St, El Paso, IL 61738
In Person Public Auction with Online Internet Bidding.
MULTI PARCEL, 5 TRACT AUCTION
Highly Productive Class A SOILS.
Sale is Subject to the 2024 Farm Tenancy.
Buyer Receives 100% of the 2024 Cash Rent.
Wind Easement Options.
Excellent Investment Opportunity.
Approved APH INFO:
T1 = 245 bushel corn, 73 bushel soybeans.
T2, T3, T4, T5 = 256 bushel corn; 75 bushel soybeans.
Farm location address for driving directions:
2436 State Route 116, Benson, IL, 61516
+/- 320.15 Acres. Part of section 26 and section 35, T28N R1E Clayton TWP. Woodford County, IL
Assessor GIS PINS: 05-26-300-003; 05-35-100-001; 05-35-300-005; 05-35-300-006.
Farm is subject to a Wind Lease and Easement Agreement dated September 11, 2018 and memorandum of correction dated July 6, 2021.
T1: +/- 77.61 acres in total, +/- 76.59 tillable acres, 143 PI.
Part of section 26, T28N-R1E Clayton TWP. Woodford County, IL.
Parcel ID: 05-26-300-003. 2022 payable 2023 Real Estate Tax: $4,868.52.
T2: +/- 80.79 acres in total, +/- 77.96 tillable acres, 142.2 PI.
Part of section 35, T28N-R1E Clayton TWP. Woodford County, IL.
The North of Parcel ID: 05-35-100-001.
Estimated 2022 payable 2023 Real Estate Tax: $4,966.03.
T3: +/- 80.79 acres in total, +/- 80.04 tillable acres, 143.6 PI.
Part of section 35, T28N-R1E Clayton TWP. Woodford County, IL.
The South of Parcel ID: 05-35-100-001.
Estimated 2022 payable 2023 Real Estate Tax: $4,966.03.
T4: +/- 40.48 acres in total, +/- 40.10 tillable acres, 140.6 PI.
Part of section 35, T28N-R1E Clayton TWP. Woodford County, IL.
Parcel ID: 05-35-300-005. 2022 payable 2023 Real Estate Tax: $2,328.42.
T5: +/- 40.48 acres in total, +/- 40.10 tillable acres, 144 PI.
Part of section 35, T28N-R1E Clayton TWP. Woodford County, IL.
Parcel ID: 05-35-300-006. 2022 payable 2023 Real Estate Tax: $2,565.72
Travis M. Selby
Land Broker and Auctioneer # 441001485
217.304.1686 cell
WWW.AGEXCHANGE.COM
Auction terms and conditions:
Procedure: The farm will be offered as 5 individual tracts, any combination of tracts, and as a total of +/- 320.15 acres. There will be open bidding on all tracts and combinations during the auction. 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.
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 34 days after auction day, or as soon thereafter as applicable closing documents are completed.
The anticipated closing date shall be Tuesday, July 16th, 2024.
Possession: Possession will be given at closing subject to the 2024 crop lease.
Buyer shall receive cash rent at closing in the amount of:
T1: $20,811.00; T2: $20,943.00; T3: $21,502.00; T4: $10,772.00; T5: $10,772.00
The second cash rent payment will be paid to buyer on or before Dec 1, 2024 in the amount of:
T1: $10,405.50; T2: $10,471.50; T3: $10,751.00; T4: $5,386.00; T5: $5,386.00
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 seller’s 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 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.
Farm is subject to a Wind Lease and Easement Agreement dated September 11, 2018 and memorandum of correction dated July 6, 2021.
Real Estate Taxes and Assessments:
The seller shall be responsible for paying the 2023 real estate taxes due and payable in 2024.
The buyer shall be responsible for paying 100% of the 2024 real estate tax 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 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.
Seller: KRPAN FAMILY
