MGW Real Estate Auction Information

The Kishwaukee Road Farm #2


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

Date of Auction: 6/15/2012
Time of Auction: 10:00 AM
Auction Location: Activities Center Faith Center Church, 4721 S. Main St., Rockford, IL 61102
Inspection Date: 6/15/2012
Inspection Location: Please call to schedule an inspection
Directions to Auction: The auction site is located on the southwest edge of Rockford, IL. From US-20, exit at IL-2 south. Head south for 0.5 miles to arrive at the Faith Center Church. The auction will be in the Activities Center.
Directions to Farm: From US-20, exit at IL-2 South. Head south for 1 mile. Turn southwest onto Airport Drive/Kishwaukee Road for 4.3 miles. The farm is on the north 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 July 13, 2012. Possession is subject to the rights of any tenants in possession.
Real Estate Taxes: The 2012 real estate taxes and special assessments due and payable in 2013 shall be shared equally between the seller and buyer. The 2011 real estate taxes were $1,384.44 for the entire acreage. 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.
Conveyance: At closing, seller shall convey and transfer the property to buyer by 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: Jack Pease
Property Details
Location: The subject farm is located approximately 77 miles west of Chicago O'Hare International Airport. Nearby towns include: Byron (4 miles southwest) and Rockford (2 miles northeast).
Frontage: The is approximately 1/8 mile of road frontage of Kishwaukee Road.
Major Highways: Illinois Route 72 is 4 1/2 miles southwest, Illinois Route 2 is 6 1/3 miles southwest, Illinois Route 251 is 6 miles east and Interstate 39 is 8 3/4 miles to the east of the property.
Legal Description: A brief legal description indicates the Kishwaukee Road #2 Farm is located in Part of the North Half of Section 13 in Township 25 North - Range 11 East (Marion Township) in Ogle County, Illinois, and part of the West Half of Section 30 in Township 43 North - Range 1 East (Rockford Township) in Winnebago County, Illinois, consisting of 210.1 acres more or less.
Total Acres: There are a total of 210.1 acres, more or less, according to the Ogle & Winnebago County Assessor's Offices.
Tillable Acres: There are approximately 147.9 tillable acres.
Soil Types: Major soil types found on this farm include Jasper loam, La Hogue loam, St. Charles silt loam, Dickinson sandy loam, Grellton fine sandy loam, Hoopeston sandy loam and Comfrey loam.
Topography: The topography of the subject farm is gently rolling.
Climate / Growing Season: Ogle County has a continental climate typical of northern Illinois. The average length of the growing season is nearly 142 days. On average we expect about 2854 growing degree days from April 15 through September 30. Annual precipitation averages about 34 inches with over two thirds of this coming during the growing season. Snowfall averages about 33 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 $1,384.44. The tax parcel numbers are #05-13-100-002, #15-30-100-001, #15-30-300-001, #15-30-300-006 and #15-31-100-004.
Grain Markets: There are a number of grain markets located within 10 miles of the Kishwaukee Road #2 Farm.
Zoning: The farm is zoned for 1-acre residential lots.
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
440B Jasper loam 49.4 173 8546
102A La Hogue loam 13.3 162 2155
243C2 St. Charles silt loam 12.6 156 1966
87B Dickinson sandy loam 9.7 141 1368
780C2 Grellton fine sandy loam 9.6 133 1277
172A Hoopeston sandy loam 8.6 147 1264
3776A Comfrey loam 8.2 185 1517
622C2 Wyanet silt loam 6.2 150 930
622B Wyanet silt loam 6.2 159 986
440C2 Jasper silt loam 4.5 163 734
742B Dickinson sandy loam 3.4 146 496
622C2 Wyanet silt loam 3.1 150 465
779B Chelsea loamy fine sand 2.8 104 291
783B Flagler sandy loam 2.5 128 320
327B Fox silt loam 2.2 128 282
570B Martinsville silt loam 2 153 306
354B Hononegah loamy coarse sand 1.2 113 136
561D2 Whalan and NewGlarus silt loams 0.8 117 94
503B Rockton silt loam 0.8 133 106
403D Elizabeth loam 0.4 72 29
403F Elizabeth loam 0.4 54 22
    Total: 147.9    

TOTAL ACRES - 210.1 acres, more or less
TILLABLE ACRES - 147.9 acres, or 70.4% per FSA figures
CORN YIELD - 157.5 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 110.9 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.