MGW Real Estate Auction Information

The Silvanus-Peterson Farm


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Contact Details -
Mark T. Mommsen  (Agent)
Phone: 815-756-3606
Mobile:  815-901-4269

Date of Auction: 5/29/2012
Time of Auction: 10:00 AM
Auction Location: Kirkland Fire Department Community Room, 3891 State Rt. 72, Kirkland, IL 60146
Inspection Date: 5/29/2012
Inspection Location: Please call to schedule an inspection
Directions to Auction: The auction site is located 1 mile west of Kirkland, Illinois, on Highway 72. The Kirkland Fire Department is on the north side of the road.
Directions to Farm: The farm is located south of Kirkland, Illinois. From Highway 72 in Kirkland, turn south on Malta Road for 3 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 June 29, 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 shared equally between the seller and buyer. The 2010 real estate taxes were $1,905.86 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: The 2012 crop year cash rent shall be shared equally between the seller and buyer. 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: 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: Ruth S. Peterson Revocable Trust
Property Details
Location: The subject farm is located approximately 60 miles west of Chicago O'Hare International Airport. Nearby towns include: Kirkland (2 miles north), Malta (10 miles south) Sycamore (11 miles east), and Rochelle (18 miles southwest).
Frontage: There is approximately 5/8 mile of road frontage on Malta Road.
Major Highways: Illinois Route 72 is 3 1/4 miles north, Illinois Route 64 is 4 1/2 miles south, Interstate 39 is 10 miles west, and Illinois Route 23 is 11 3/4 miles east of the property.
Legal Description: A brief legal description indicates the Silvanus-Peterson Farm is located in Part of Section 11 in Township 41 North - Range 3 East (South Grove Township) in DeKalb County, Illinois.
Total Acres: There are a total of 176.0 acres, more or less, according to the DeKalb County Assessor's office.
Tillable Acres: There are 165.5 tillable acres according to the DeKalb County FSA Office.
Soil Types: Major soil types found on this farm include Wingate silt loam, Octagon silt loam, Herbert silt loam and Flanagan silt loam.
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 $1,905.86. The tax parcel numbers are #04-11-100-006, #04-11-200-002, and #04-11-300-005.
Grain Markets: There are a number of grain markets located within 10 miles of the Silvanus-Peterson Farm.
Zoning: The farm is zoned Agricultural.
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
348B Wingate silt loam 53.8 163 8769
656B Octagon silt loam 26.8 157 4208
656C2 Octagon silt loam 22.8 151 3443
62A Herbert silt loam 22.3 179 3992
154A Flanagan silt loam 10.6 194 2056
348C2 Wingate silt loam 10.4 153 1591
356A Elpaso silty clay loam 7.8 195 1521
193C2 Mayville silt loam 5.8 139 806
233B Birkbeck silt loam 2.8 165 462
236A Sabina silt loam 2.4 168 403
    Total: 165.5    

TOTAL ACRES - 176.0 acres, more or less
TILLABLE ACRES - 165.5 acres, or 94.0% per FSA figures
CORN YIELD - 164.7 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 154.8 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.