T1: +/- 46.66 acres

FARMLAND AUCTION
+/- 388.65 Contiguouse Acres, 6 Tracts

Lynnville TWP, Ogle County, IL
and
South Grove Twp, DeKalb County, IL

Auction Time & Date:
10 AM, Friday, June 28th

Auction Location:
Farandas Banquet
302 Grove St, DeKalb, IL 60115

In Person Public Auction with Online Internet Bidding.

MULTI PARCEL, 6 TRACT AUCTION
Class A, SOILS
Tile Maps Available
Sale is Subject to the 2024 Farm Tenancy.
Buyer Receives 100% of the 2024 Cash Rent.
Underground Transmission Line Easement Options. Additional information coming soon.

Farm location address for driving directions:
27667 Esmond Rd, Esmond, IL 60129

+/- 388.65 Acres. Part of section 13, T41N, R2E Lynville Twp. Ogle County, IL.
and Part of section 18, T41N-R3E South Grove Twp. DeKalb County, IL.

PLAT OF SURVEY AVAILABLE FOR REVEIW UPON REQUEST.
T2 and T3 boundaries and acreage have been revised to reflect the final plat of survey.

T1: +/- 46.67 acres, +/- 44.49 tillable acres, 142.8 PI
Part of section 13, T41N-R2E Lynville TWP. Ogle County, IL.
Assessor PIN 19-13-200-003, 2023 payable 2024 tax = $2,890.48.

T2: +/-42.14 acres, +/- 36.88 tillable acres, 140.5 PI.
Part of section 18, T41N-R3E South Grove Twp. DeKalb County, IL.
Assessor PIN 04-18-100-005, 2023 payable 2024 tax = $ 2,312.70.

T3: +/- 141.12 acres, +/- 138.78 tillable acres, 142.5 PI.
Part of section 13, T41N-R2E Lynville TWP. Ogle County, IL.
Assessor PIN 19-13-200-004, 2023 payable 2024 tax = $7,034.84
Part of section 18, T41N-R3E South Grove Twp. DeKalb County, IL.
Assessor PIN 04-18-100-006, 2023 payable 2024 tax = $ 2,089.54.

T4: +/- 42.28 acres, +/- 41.68 tillable acres, 141 PI
Part of section 18, T41N-R3E South Grove Twp. DeKalb County, IL.
The North 42.28 acres of Assessor PIN 04-18-300-003,
Estimated $61.47 per acre, 2023 payable 2024 tax = $2,638.27.

T5: +/- 35.00 acres, +/- 34.5 tillable acres, 142.7 PI
Part of section 18, T41N-R3E South Grove Twp. DeKalb County, IL.
The south 35 acres of Assessor PIN 04-18-300-003, 2023 payable 2024 tax = $2,184.00.
T6: +/- 81.45 acres, +/- 80.22 tillable acres, 142.5 PI
Part of section 13, T41N, R2E Lynville Twp. Ogle County, IL
Assessor PIN 19-13-400-003,2023 payable 2024 tax = $1,300.42
Assessor PIN 19-13-400-004,2023 payable 2024 tax = $3,784.76

Travis M. Selby
Land Broker and Auctioneer # 441001485
217.304.1686 cell

 

Auction Terms and Conditions:
Procedure: The farm will be offered as 6 individual tracts, any combination of tracts, and as a total of +/- 388.65 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 33 days after auction day, or as soon thereafter as applicable closing documents are completed.
The anticipated closing date shall be Wednesday, July 31st, 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: $10,633.86; T2: $8,815.07; T3: $33,169.17; T4: $9,962.27; T5: $8,246.25; T6: $19,173.33

The second cash rent payment will be paid to buyer on or before Dec 1, 2024 in the amount of:
T1: $7,136.20; T2: $5,915.55; T3: $22,260.31; T4: $6,685.47; T5: $5,533.80; T6: $12,867.29

Possession is also subject to an Option Agreement for underground transmission line easements on T1, T2, T3 and T6.

Survey: A new survey shall not be provided, and the sale shall not be subject to a survey. The farm has been previously surveyed, a copy of the survey is available for review.

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:
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

 

Faranda's Banquets
302 Grove Street
DeKalb, Illinois 60115
United States