MGW Real Estate Auction Information


The Harmon 85 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: 10/26/2011
Time of Auction: 10:00 AM
Auction Location: Amboy Community Center, 280 West Wasson Road., Amboy, IL 61310
Inspection Date: 10/26/2011
Inspection Location: Please call to schedule an inspection
Directions to Auction: The auction site is located on the north edge of Amboy, Illinois. From US-52, head west onto West Wasson Road for 0.5 miles to arrive at the Community Center.
Directions to Farm: The farm is located northwest of Amboy, Illinois. From US-52 head west on US-30 for 4.0 miles. The farm is on the south 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 November 28, 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 paid by the seller.  The 2010 real estate taxes were $1,061.64.  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 retained by the seller.  Buyer shall receive the landlord share (or cash rent) for the 2012 crop year.
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, dated no more than 6 (six) months prior to 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: Gregory & Estela Koontz
Property Details
Location: The subject farm is located approximately 90 miles west of Chicago O'Hare International Airport.  Nearby towns include Amboy (6 miles southeast), Dixon (7 miles northwest), and Rock Falls (13 miles west).
Frontage: There is approximately 1/2 mile of road frontage on Federal Highway 30 and 1/2 mile of road frontage on Red Brick Road.
Major Highways: 2 miles east of State Highway 26, 4 miles west of Federal Highway 52, and 4.5 miles south of Interstate Highway 88.
Legal Description: A brief legal description indicates The Harmon 85 Farm is located in part of the North Half of Section 1 (T.20N.-R.9E.), Marion Township, Lee County, Illinois.
Total Acres: There are a total of 85 acres, more or less, according to the Lee Co. Assessors Office.
Tillable Acres: There are 75.2 tillable acres according to the Lee County FSA Office.
Soil Types: Major soil types found on this farm include Nachusa Silt Loam, Clyde Clay Loam, and Wyanet Silt Loam.
FSA Data: The FSA direct corn yield is 128 bushels per acre and the FSA corn base is 40.2 acres.  The FSA direct bean yield is 41 bushels per acre, the FSA bean base is 34.5 acres. 
Topography: The topography of the subject farm is level to gently rolling.
Climate / Growing Season: Lee County has a continental climate typical of northern Illinois.  The average length of the growing season is nearly 173 days.  On average we expect about 2750 growing degree days from April 23 through October 15. Annual precipitation averages about 35 inches with over two thirds of this coming during the growing season.  Snowfall averages about 35 inches per year.  Prevailing winds are from the west-northwest.  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: 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: Financing is available from several sources.  Names and addresses will be provided upon request.
Taxes: The 2010 Real Estate Taxes totaled $1,061.64. The tax parcel numbers are 14-01-200-001 and 14-01-100-002.
Grain Markets: There are a number of grain markets located within 10 miles of the Harmon 85 Farm.
Zoning: The farm is zoned Agricultural.
 
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
649A Nachusa silt loam 28.6 183 5234
648A Clyde clay loam 14.6 186 2716
622B Wyanet silt loam 10.9 159 1733
355A Binghampton sandy loam 8 142 1136
650B Prairieville silt loam 6.7 174 1166
802A Orthents loam 2.9 0 3
490A Odell silt loam 1.8 176 317
357B Vanpetten loam 1.7 145 246
    Total: 75.2    


TOTAL ACRES - 85.0 acres, more or less
TILLABLE ACRES - 75.2 acres, or 88.5% per FSA figures
CORN YIELD - 166.9 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 147.7 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.