MGW Real Estate Auction Information

The Decatur Farm


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Contact Details -
Mark T. Mommsen  (Agent)
Phone: 815-756-3606
Mobile:  815-901-4269

Date of Auction: 5/19/2011
Time of Auction: 1:00 PM
Auction Location: Decatur Conference Center & Hotel, 4191 W. US Highway 36, Decatur, IL 62522
Inspection Date: 5/5/2011
Inspection Location: 8:00 AM - 10:00 AM at the farm
Directions to Auction: The auction site is located on the west side of Decatur, IL.  From the intersection of Interstate 72 and US-36 at the west edge of Decatur, head east on US-36 for 1.5 miles.  The Decatur Conference Center & Hotel is on the south side of the road. 
Directions to Farm: The farm is located just northeast of Decatur, IL.  From Interstate 72, take exit 144 for IL-48.  Head northeast on IL-48 and take the first left onto Cundiff Road for 0.3 miles.  The farm is on the north side of the road.

Auction Terms & Conditions

Agency: Martin, Goodrich & Waddell, Inc. and its representatives are agents of the owner.  Buyer agents seeking cooperation shall register their buyers in writing with Martin, Goodrich & Waddell, Inc. 10 days prior to the auction.
Earnest Money: The successful bidder as determined by the auctioneer is required to make a 10% down payment of the accepted bid price on the day of auction with the balance due at closing.  Bidding is not conditional upon financing.  Payment shall be in the form of a personal check or cashier’s check.
Closing: Closing shall be on or before June 13, 2011.  Possession is subject to the rights of any tenants in possession.
Real Estate Taxes: The 2011 real estate taxes, drainage assessment taxes, and special assessments due and payable in 2012 shall be shared equally between seller and buyer.  The 2009 real estate taxes were $954.00.  The 2012 real estate taxes, drainage assessment taxes, and special assessments due and all subsequent year taxes shall be the responsibility of the buyer.
Crops & Expenses: The 2011 crop year cash rent shall be shared equally between seller and buyer.  Buyer shall receive the landlord share (or cash rent) for the 2012 crop year.  Lease details will be provided upon request.
Government Agricultural Program Payments: Buyer accepts title subject to the farm’s existing participation in the following government agricultural programs: NONE.
Conveyance: At closing, seller shall convey and transfer the property to buyer by warranty deed, appropriate assignment, land trust, or other similar acceptable instrument of conveyance.  At the same time, the balance of the purchase price then due shall be paid and all documents relative to the transaction shall be signed and delivered.
Title Evidence: At closing, seller shall furnish a commitment and Owner’s Title Guaranty Policy for the amount of the purchase price at the seller’s expense.
Survey: Seller shall secure a boundary survey by a licensed land surveyor at the seller’s expense within 6 (six) months of closing.  Final purchase price will be based upon surveyed acres.
Disclaimer & Absence of Warranties: Announcements made the day of the auction supersede any previously made statements or material provided, whether printed or oral.  Information contained in this brochure is subject to the terms and conditions of the purchase agreement between the seller and buyer.  All maps, data, and images in this brochure are approximate, and no liability for its accuracy is assumed by the seller or seller’s agent.  The buyer shall be responsible for conducting their own independent inspection and due diligence concerning the property.  The property is being sold “as is” and “where is” with no warranty or representation, either expressed or implied, concerning the property is made by the seller or seller’s agent.  The auctioneer reserves the right to make final decisions on auction conduct and bidding increments.        
Disclosure: Some photos in this brochure may be stock photography and are for illustrative purposes only.
Owner: TJ Laz Farm, LLC
Property Details
Location: The subject farm is adjacent to the city of Decatur.  Nearby towns include: Mt. Zion (12 miles south), Clinton (21 miles north), Springfield (46 miles west), and Champaign (42 miles east).
Frontage: There is approximately 1/4 mile of road frontage on Brush College Road and 3/16 mile of road frontage on Cundiff Road.
Major Highways: Interstate Highway 72 is 1/4 mile South, County Highway 48 is 1/2 mile East, State Highway 51 is 3 miles West, and State Highway 36 is 6 miles South.
Legal Description: Located in part of the Southwest Quarter of the Northwest Quarter of Section 20 in Township 17 North, Range 3 East of the Third Principal Meridian (Whitmore Township) in Macon County, Illinois, consisting of 38.33 acres. 
Total Acres: There are a total of 38.330 acres according to a recent survey.
Tillable Acres: There are 36.4 tillable acres according to the Macon County FSA Office.
Soil Types: Major soil types found on this farm include: Drummer Silty Clay Loam, Flanagan Silt Loam, and Catlin Silt Loam.
FSA Data: The FSA direct corn yield is 127 bushels per acre and the FSA corn base is 18.8 acres.  The FSA direct bean yield is 31 bushels per acre, the FSA bean base is 17.6 acres.
Topography: The topography of the subject farm is level.
Climate / Growing Season: Macon County's winter average temperature is 29.4 degrees F and the average daily minimum temperature is 20.7 degrees. The lowest temperature on record, which occurred at Decatur on February 13, 1905, is -25 degrees. In summer, the average temperature is 74.3 degrees and the average daily maximum temperature is 86.0 degrees. Growing degree days in April average a maximum of 65.1 degrees F and a minimun of 41.7 degrees F.  The normal monthly accumulation is used to schedule single or successive plantings of a crop between the last freeze in spring and the first freeze in fall. The average annual total precipitation is 39.68 inches. Of this total, 23.6 inches, or about 59 percent, usually falls in April through September. The growing season for most crops falls within this period.
Mineral Rights: The buyer will receive and the seller will convey all mineral rights that the seller owns relating to the property.
Possession: Possession will be given at closing, subject to the terms and conditions set forth in a purchase contract.
Financing: Mortgage financing is available from several sources.  Names and addresses will be provided upon request.
Taxes: The 2009 Real Estate Taxes totaled $954.00. The tax parcel number is 08-20-100-007.
Grain Markets: There are a number of grain markets located within 10 miles of the Decatur Farm.
Zoning: The farm is zoned Agricultural.
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
152A Drummer silty clay loam 31.2 195 6084
154A Flanagan silt loam 4.2 194 815
171B Catlin silt loam 1 185 185
    Total: 36.4    

TOTAL ACRES - 38.3 acres, more or less
TILLABLE ACRES - 36.4 acres, or 95.0% per FSA figures
CORN YIELD - 194.6 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 184.8 bushels per acre, based on total acres

Disclaimer : Although the information contained in this brochure is considered to be accurate, no representation or warranty to that effect is being made. The information contained herein is subject to verification, and no liability for errors or omissions is assumed. The listing may be withdrawn with or without notice, and the stated price and terms are subject to change without notice or approval. The Seller further reserves the right to reject any and all offers. All inquiries, inspection appointments, and offers must be channeled through the Seller’s Designated Agent.