MGW Real Estate Auction Information


The Dickinson #1 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: 11/9/2011
Time of Auction: 10:00 AM
Auction Location: Activities Center of the Faith Center Church, 4721 S. Main St. Rockford, IL 61102
Inspection Date: 10/27/2011
Inspection Location: 5:00 PM - 6:00 PM at the building site
Directions to Auction: The auction site is located on the southwest edge of Rockford, IL. From US-20, exit at IL-2 south.  Head south for 0.5 miles to arrive at the Faith Center Church.  The auction will be in the Activities Center.
Directions to Farm: The farm is located southwest of Rockford, IL.  From US-20, exit at IL-2 south. Head south for 0.8 miles, then take a slight right and continue on IL-2 for 0.5 miles to arrive at the farm.

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 December 9, 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 $7,116.06 for the entire acreage, including the house and buildings, as well as the 19.793 acres of timber along IL-2.  The 19.793 acres will not be offered for sale at the auction.  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 responsibilities and benefits of the following government 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, acreages, 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: Nordic Investment Corporation
Property Details
Location: The subject farm is located approximately 75 miles west of Chicago and O'Hare International Airport, and is contiguous to the city of Rockford.
Frontage: There is approximately 120 feet of road frontage on IL-2.
Major Highways: Federal Highway 20 is 3/4 mile north, Interstate 39 and Interstate 90 are 8 miles east.
Legal Description: Part of Section 16 in Township 43 North – Range 1 East of the Third Principal Meridian (Rockford Township) in Winnebago County, Illinois, consisting of 159 acres more or less.
Total Acres: There are a total of 158.9 acres, more or less, according to the Winnebago County Assessors Office.
Tillable Acres: There are 140.5 tillable acres, according to the Winnebago County FSA Office.
Soil Types: Major soil types include Waupecan silt loam, Plano silt loam, and Selmass loam.
Topography: The topography of the subject farm is level.
Climate / Growing Season: Winnebago County has a continental climate typical of northern Illinois. The average length of the growing season is nearly 160 days. On average we expect about 2750 growing degree days from April 15 through September 30. Annual precipitation averages about 35 inches with over two thirds of this coming during the growing season. Snowfall averages about 36 inches per year. Prevailing winds are from the west and southwest. The climate, combined with the generally excellent soils in this area provides a nearly ideal environment for the productions of corn, wheat 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: Mortgage financing is available from several sources. Names and addresses will be provided upon request.
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 $7,116.06 for the entire acreage, including the house and buildings, as well as the 19.793 acres of timber along IL-2.  The 19.793 acres will not be offered for sale at the auction.  The 2012 real estate taxes, drainage assessment taxes, and special assessments due and all subsequent year taxes shall be the responsibility of the buyer.
Grain Markets: There are a number of grain markets located within 10 miles of the Dickinson #1 Farm.
Zoning: The farm is zoned Agricultural.
 
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
369A Waupecan silt loam 93.8 189 17728
199A Plano silt loam 23.9 194 4637
529A Selmass loam 7 163 1141
290B Warsaw loam 3.4 159 541
623B Kishwaukee silt loam 2.5 180 450
199B Plano silt loam 2.4 192 461
440A Jasper silt loam 1.9 153 291
728C2 Winnebago silt loam 1.8 175 315
290D2 Warsaw loam 1.4 150 210
387B Ockley silt loam 1 154 154
412B Ogle silt loam 0.6 175 105
243B St. Charles silt loam 0.4 166 66
3776A Comfrey Loam 0.4 185 74
    Total: 140.5    


TOTAL ACRES - 158.9 acres, more or less
TILLABLE ACRES - 140.5 acres, or 88.4% per FSA figures
CORN YIELD - 186.3 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 164.7 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.