MGW Real Estate Auction Information


The Northern Illinois 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: 11/15/2011
Time of Auction: 1:00 PM
Auction Location: Capron Fire Department, 120 West Ogden St. Capron, IL 61012
Inspection Date: 11/15/2011
Inspection Location: Please call to schedule an inspection
Directions to Auction: The auction site is located one block south of Route 173 in Capron, Illinois.
Directions to Farm: The farm is located directly north of Capron, Illinois.

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 15, 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 $3,242.42 for the entire acreage.  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: Northern Illinois Farms, LLC
Property Details
Location: The subject farm is located approximately 65 miles northwest of Chicago O'Hare International Airport.  Nearby towns include:  Harvard (6 mi. east), Belvidere (13 mi. south) and Rockford (16 mi. southwest).
Frontage: There is approximately 3/4 mile of road frontage on Capron Road and 1/2 mile of road frontage on North Boone School Road.
Major Highways: Interstate 90 is 18 miles south and Interstate 39 is approximately 15 miles west.
Legal Description: Part of the West Half of Section 2 and Part of the Southeast Quarter of Section 3 in Township 45 North - Range 4 East of the Third Principal Meridian (Boone Township) in Boone County, Illinois, consisting of 246.2 acres more or less.
Total Acres: There are a total of 246.2 acres, more or less.
Tillable Acres: There are 228.6 tillable acres according to the Boone County FSA Office.
Soil Types: Major soil types found on this farm include Drummer silty clay loam, Caprell silt loam, Kendall silt loam, Stronghurst silt loam and Rozetta silt loam.
FSA Data: The FSA direct corn yield is 117 bushels per acre and the FSA corn base is 171.4 acres.  The FSA direct bean yield is 30 bushels per acre, the FSA bean base is 151.9 acres.  There are no wetlands and no highly erodible lands.     
Topography: The topography of the subject farm is level.
Climate / Growing Season: Boone County has a continental climate typical of north-central 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 including 1st Farm Credit and local banks.  Additional names and addresses will be provided upon request.
Taxes: The 2010 Real Estate Taxes totaled $3,242.42. The tax parcel numbers are 04-03-400-001, 04-03-426-001, 04-03-400-006, 04-03-400-007, 04-03-400-008, 04-02-301-002, 04-02-301-001, 04-02-100-008 and 04-02-100-005.
Grain Markets: There are a number of grain markets located within 10 miles of the Northern IL Farm.
Zoning: The farm is zoned Agricultural.
 
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
152A Drummer silty clay loam 59.4 195 11583
624B Caprell silt loam 55 155 8525
242A Kendall silt loam 38.2 172 6570
278A Stronghurst silt loam 13.6 171 2326
279A Rozetta silt loam 11.8 164 1935
243B St. Charles silt loam 9.2 166 1527
61A Atterberry silt loam 7.7 182 1401
104A Virgil silt loam 7.5 182 1365
419B Flagg silt loam 5.8 160 928
21B Pecatonica silt loam 5.6 152 851
766A Lamartine silt loam 5 182 910
152A+ Drummer silt loam 2.6 195 507
675B Greenbush silt loam 2 182 364
543B Piscasaw silt loam 1.8 166 299
198A Elburn silt loam 1.8 197 355
51A Muscatune silt loam 1 200 200
188A Beardstown loam 0.3 152 46
624C2 Caprell silt loam 0.2 149 30
570B Martinsville silt loam 0.1 153 15
    Total: 228.6    


TOTAL ACRES - 246.0 acres, more or less
TILLABLE ACRES - 228.6 acres, or 92.9% per FSA figures
CORN YIELD - 173.8 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 161.5 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.