MGW Real Estate Auction Information


The Quenett 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: 3/8/2012
Time of Auction: 10:00 AM
Auction Location: Genoa Veterans Home, 311 S. Washington St., Genoa, IL 60135
Inspection Date: 3/8/2012
Inspection Location: Please call to schedule an inspection
Directions to Auction: The auction site is located in Genoa, Illinois, on South Washington Street, 2 blocks south of West Main Street (Route 72).
Directions to Farm: The farm is located northeast of Genoa, Illinois. From Genoa, head east for 3 miles on Route 72. Then, turn north on Roosevelt Road for 2 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 April 9, 2012. Possession is subject to the rights of any tenants in possession.
Real Estate Taxes: The 2012 real estate taxes, drainage assessment taxes, and special assessments due and payable in 2013 shall be paid by the buyer. The 2010 real estate taxes were $4,301.60 for the entire acreage. The 2013 real estate taxes, drainage assessment taxes, and special assessments due and all subsequent year taxes shall be the responsibility of the buyer.
Crops & Expenses: Buyer shall receive the cash rent for the 2012 crop year. Lease details are available upon request.
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 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: David Quenett, Carol Quenett, & Darlene Quenett
Property Details
Location: The subject farm is located approximately 50 miles northwest of Chicago O'Hare International Airport. Nearby towns include: Hampshire (6 miles southeast), Marengo (8 miles north), and Sycamore (10 miles southwest).
Frontage: There is approximately 3/4 mile of road frontage on Roosevelt Road and 1/4 mile on Hemlock Road.
Major Highways: State Highway 23 is 1 mile west, IL Route 72 is 2 miles south, Interstate 90 is 4 1/4 miles north and U.S. Route 20 is 10 miles to the east of the property.
Legal Description: Part of the Southwest Quarter of Section 11 and part of the Southwest Quarter of Section 14 in Township 42 North - Range 5 East of the Third Principal Meridian (Genoa Township) in DeKalb County, Illinois, consisting of 190 acres more or less.
Total Acres: There are a total of 190.0 acres, more or less, according to the DeKalb County Assessors Office.
Tillable Acres: There are 189.5 tillable acres according to the DeKalb County FSA Office.
Soil Types: Major soil types found on this farm include Drummer silty clay loam, Herbert silt loam, Danabrook silt loam, Elburn silt loam, Lisbon silt loam, Elpaso silty clay loam, Harpster silty clay loam, Wingate silt loam and Proctor silt loam.
Topography: The topography of the subject farm is level.
Climate / Growing Season: DeKalb 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. 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: 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 $4,301.60. The tax parcel numbers are 03-11-300-003, 03-11-300-005, 03-14-300-006, 03-14-300-007, 03-14-300-008 and 03-14-300-005.
Grain Markets: There are a number of grain markets located within 10 miles of the Quenett Farm.
Zoning: The farm is zoned Agricultural.
 
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
152A Drummer silty clay loam 73.7 195 14372
62A Herbert silt loam 31.7 179 5674
512B Danabrook silt loam 21.6 185 3996
198A Elburn silt loam 17.8 197 3507
59A Lisbon silt loam 12.2 188 2294
356A Elpaso silty clay loam 10.9 195 2126
67A Harpster silty clay loam 9.1 182 1656
348A Wingate silt loam 7.9 165 1304
148A Proctor silt loam 4.6 185 851
    Total: 189.5    


TOTAL ACRES - 190.0 acres, more or less
TILLABLE ACRES - 189.5 acres, or 99.7% per FSA figures
CORN YIELD - 188.8 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 188.3 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.