MGW Real Estate Auction Information


The Johnson 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: 4/11/2012
Time of Auction: 10:00 AM
Auction Location: Indian Oaks Country Club, 603 Preserve Rd., Shabbona, IL 60550
Inspection Date: 3/23/2012
Inspection Location: At the farm. 3/23/12 from 11-12pm and 3/28/12 from 5-6pm
Directions to Auction: The auction site is located in Shabbona, Illinois, on Preserve Road, 1/2 mile south of U.S. Route 30.
Directions to Farm: The farm is located southeast of Shabbona, Illinois. From Shabbona, head south on County Highway 6. Then, turn east on Shabbona Grove Road and continue for 1 1/2 miles. Turn north on Johnson Road. 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 May 25, 2012. Possession is subject to the rights of any tenants in possession.
Real Estate Taxes: The seller shall give a credit for the 2011 real estate taxes, payable in 2012, using the most recent ascertainable tax information. Buyer shall be responsible for all subsequent 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 $5,283.48 for the entire acreage, including the home. 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 and CRP payments for the 2012 crop year. Lease details are available upon request.
Government Agricultural Program Payments: Buyer accepts title subject to the responsibilities and benefits of one CRP contract. The contract is for 29.9 acres having a total annual payment of $4,592.64 through 9/30/16. Buyer is required to assume all requirements of the contract through the date of expiration.
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.
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: Louise Johnson
Property Details
Location: The subject farm is located approximately 65 miles southwest of Chicago O'Hare International Airport. Nearby towns include: Waterman (6 miles northeast), Earlville (12 miles southwest), and Steward (16 miles northwest).
Frontage: There is 1/4 mile of road frontage on Johnson Road.
Major Highways: US Route 30 is 4 miles north, Illinois Route 23 is 5 1/4 miles east, and Interstate 39 is 10 1/2 miles to the west of the property.
Legal Description: A brief legal description indicates the Johnson Farm is located in Part of the South Half of Section 25 in Township 38 North - Range 3 East of the Third Principal Meridian (Shabbona Township) in DeKalb County, Illinois.
Total Acres: There are a total of 68.75 acres, more or less, according to the DeKalb County Assessor's Office.
Tillable Acres: There are 57.5 tillable acres according to the DeKalb County FSA Office.
Soil Types: Major soil types found on this farm include Octagon silt loam, Wingate silt loam, Mayville silt loam and Kidami loam.
FSA Data: The FSA direct corn yield is 126 bushels per acre and the FSA corn base is 27.6 acres.
Topography: The topography of the subject farm is gently rolling.
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 $5,283.48. The tax parcel numbers are #1325400006 and #1325300009.
Grain Markets: There are a number of grain markets located within 10 miles of the Johnson Farm.
Zoning: The farm is zoned Agricultural.
 
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
656C2 Octagon silt loam 24.5 151 3700
348B Wingate silt loam 19.4 163 3162
193B Mayville silt loam 5.4 148 799
527C2 Kidami loam 4.3 149 641
656B Octagon silt loam 1.5 157 236
154A Flanagan silt loam 1 194 194
221B2 Parr silt loam 0.9 151 136
62A Herbert silt loam 0.5 179 90
    Total: 57.5    


TOTAL ACRES - 68.8 acres, more or less
TILLABLE ACRES - 57.5 acres, or 83.6% per FSA figures
CORN YIELD - 155.8 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 130.3 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.