MGW Real Estate Auction Information


The Cherry Valley Farm

SOLD

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Contact Details -
Mark T. Mommsen  (Agent)
Phone: 815-756-3606
Mobile:  815-901-4269
Email: Mark.Mommsen@mgw.us.com



Date of Auction: 5/17/2011
Time of Auction: 1:00 PM
Auction Location: Hilton Garden Inn Rockford, 7675 Walton Street, Rockford, IL 61108
Inspection Date: 5/3/2011
Inspection Location: 3:00 PM - 5:00 PM at the farm
Directions to Auction: The auction site is located on the east side of Rockford.  From the I-39/I-90 and US-20/State Street exit, head west on State Street for 0.4 miles, then south on Bell School Road for 0.1 miles.  Turn east on Walton Street for 0.2 miles to arrive at the Hilton Garden Inn Rockford.    
Directions to Farm: The farm is located just south of Cherry Valley and Rockford, IL.  From the I-39 & Baxter Road interchange south of Cherry Valley and Rockford, head east on Baxter Road for 1.2 miles and then take the first right onto S Mulford Road for 0.6 miles.  The farm is on the east 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 $825.90.  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: Ma Laz Farm, LLC
Property Details
Location: The subject farm is located approximately 60 miles northwest of Chicago and O'Hare International Airport. Nearby towns include: Cherry Valley (1/4 mile north), Rockford (4 miles northwest), Rochelle (16 miles south), & DeKalb (18 miles southeast).
Frontage: There is approximately 3/16 mile road frontage on Mulford Road.  The farm is located 1/4 mile southeast of the Cherry Valley city limits and Rock 39 Industrial Park. 
Major Highways: Interstate 39 is 1/2 mile to the west, State Highway 72 is 4 miles to the south, and Interstate 90 is 7 miles to the northeast.
Legal Description: Located in part of the North Half of the Southwest Quarter of Section 34 in Township 43 North, Range 2 East of the Third Principal Meridian (Cherry Valley Township) in Winnebago County, Illinois, consisting of 73.911 acres.
Total Acres: There are a total of 73.911 acres according to a recent survey.
Tillable Acres: There are 72.5 estimated tillable acres.
Soil Types: Major soil types found on this farm include Varna Silt Loam, Drummer Silty Clay Loam,and Elliot Silt Loam.
FSA Data: To be determined by the Winnebago County Farm Service Agency.
Topography: The topography of the subject farm is level to gently rolling.
Climate / Growing Season: Winnebago County has a continental climate typical of northern Illinois. The average length of the growing season is nearly 142 days. On average we expect about 2854 growing degree days from April 15 through September 30. Annual precipitation averages about 34 inches with over two thirds of this coming during the growing season. Snowfall averages about 33 inches per year. Prevailing winds are from the west and southwest. This climate, combined with the generally excellent soils in this area, provide a nearly ideal environment for the production of corn and soybeans.
Mineral Rights: All mineral rights owned by the seller will be transferred in their entirety to the new owner.
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 of financing sources will be provided upon request.
Taxes: The 2009 Real Estate Taxes totaled $825.90.  The Tax Parcel Number is 16-34-300-002.
Grain Markets: There are a number of grain markets located near the McKnight Farm.
Zoning: The farm is zoned Agricultural.
 
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
223B Varna silt loam 52.1 156 8128
152A Drummer silty clay loam 15.4 195 3003
146A Elliot silty loam 3.8 168 638
783B Flager silt loam 0.8 128 102
293A Andres silt loam 0.4 184 74
    Total: 72.5    


TOTAL ACRES - 73.9 acres, more or less
TILLABLE ACRES - 72.5 acres, or 98.1% per FSA figures
CORN YIELD - 164.8 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 161.6 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.