MGW Real Estate Auction Information


The Mt. Pulaski 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: 4/12/2012
Time of Auction: 1:00 PM
Auction Location: Mt. Pulaski VFW, 106 E. Cooke St., Mt. Pulaski, IL 62548
Inspection Date: 4/12/2012
Inspection Location: Please call to schedule an inspection
Directions to Auction: The auction site is located in Mt. Pulaski, IL on East Cooke Street, across from the Courthouse.
Directions to Farm: The farm is located south of Mt. Pulaski, IL. From Mt. Pulaski, head east for 3/4 mile on Route 121. Then, turn south on 1750th Avenue 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 May 11, 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 $1,983.18 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.
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: FKB Trust
Property Details
Location: The subject farm is located approximately 180 miles southwest of Chicago O'Hare International Airport. Nearby towns include: Latham (6 miles east), Lincoln (13 miles north), and Springfield (25 miles northeast).
Frontage: There is approximately 1/8 mile of road frontage on 1750th Avenue.
Major Highways: IL Route 121 is 1 1/2 miles north, IL Route 54 is 2 1/2 miles northeast, Interstate 72 is 11 3/4 miles south and Interstate 55 is 14 1/4 miles to the west of the property.
Legal Description: A brief legal description indicates the Mt. Pulaski Farm is located in part of the South Half of the Northeast Quarter of Section 36 in Township 18 North-Range 2 West (Mount Pulaski Township) in Logan County, Illinois.
Total Acres: There are a total of 74.5 acres, more or less, according to the Logan County Assessor's Office.
Tillable Acres: There are 75 tillable acres according to the Logan County FSA Office.
Soil Types: Major soil types found on this farm include Ipava silt loam, Sable silty clay loam and Buckhart silt loam.
FSA Data: The FSA direct corn yield is 130 bushels per acre and the FSA corn base is 37.2 acres. The FSA direct bean yield is 37 bushels per acre, the FSA bean base is 37.6 acres. There are no wetlands and no highly erodible lands.
Topography: The topography of the subject farm is level.
Climate / Growing Season: Logan County's average temperature ranges from a low of 15 degrees F in January to a high of 86 degrees F in July. Growing degree days in April average a maximum of 65.1 degrees F and a minimum of 41.7 degrees F. The normal monthly accumulation is used to schedule single or successive plantings of a crop between the last freeze in spring and the first freeze in fall. The average monthly precipitation ranges from 1.55 inches in February to 4.42 inches in May. Of this total, 23.5 inches, or about 61%, usually falls in April through September. The growing season for most crops falls within this period. The average seasonal snowfall is 21.5 inches.
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. Additional names and addresses will be provided upon request.
Taxes: The 2010 Real Estate Taxes totaled $1,983.18. The tax parcel number is 06-086-003-00.
Grain Markets: There are a number of grain markets located within 10 miles of the Mt. Pulaski Farm.
Zoning: The farm is zoned agricultural.
 
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
43A Ipava silt loam 42.6 191 8137
68A Sable silty clay loam 25.9 192 4973
705B Buckhart silt loam 6.5 188 1222
    Total: 75    


TOTAL ACRES - 74.5 acres, more or less
TILLABLE ACRES - 75.0 acres, or 100.7% per FSA figures
CORN YIELD - 191.1 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 192.4 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.