MGW Real Estate Auction Information


The Vern A. Davis Trust 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: 8/15/2012
Time of Auction: 10:00 a.m.
Auction Location: Rockton Community Center, 302 W. Main Street, Rockton, IL 61072
Inspection Date: 8/15/2012
Inspection Location: Please call to schedule an inspection
Directions to Auction: The auction site is located in Rockton, Illinois.  From Interstate 90, head west on W Rockton Road (County Highway 9) for 4 miles.  Turn south on N Blackhawk Boulevard and west on Main Street to arrive at the community center.
Directions to Farm: The farm is located southwest of Rockton, Illinois.  From Illinois Highway 75 in Rockton, travel west for approximately 9 miles.  Turn south on Winslow Road for 1/2 mile.  Turn west on Farm School Road for 3/4 mile to arrive at the farm.

Auction Terms & Conditions

Agency: Martin, Goodrich & Waddell, Inc. and its representatives are agents of the owner. 
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 September 14, 2012.  The purchase agreement is between the seller and buyer only, and cannot be assigned to a third party without the written consent of the seller.  Possession is subject to the rights of any tenants in possession.
Real Estate Taxes: Seller shall pay 75% and buyer shall pay 25% of the 2012 real estate taxes, drainage assessment taxes, and special assessments due and payable in 2013.  The 2011 real estate taxes were $6,423.96 for the land and homes.  All subsequent year taxes shall be the responsibility of the buyer.
Crops & Expenses: Seller shall receive 75% and buyer shall receive 25% of the cash rent and CRP payments for the 2012 crop year. 
Government Agricultural Program Payments: Buyer accepts title subject to the responsibilities and benefits of five CRP contracts on the farm.  Buyer is required to assume all requirements of the contracts through the dates 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.  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: Vern A. Davis Trust
Property Details
Location: The subject farm is located 90 miles northwest of Chicago O'Hare International Airport.  Nearby towns include:  Durand (5 1/2 miles northwest), Rockton (10 miles east), and Pecatonica (11 1/2 miles southwest).
Frontage: There is approximately 1/4 mile of road frontage on Farm School Road and 1/4 mile on Campbell Road.
Major Highways: Illinois Route 75 is 1/2 mile north, Illinois Route 70 is 3 miles south, U.S. Route 20 is 10 1/2 miles South, and Interstate 90 is 14 1/2 miles east of the property.
Legal Description: A brief legal description indicates the Vern A. Davis Farm is in Part of the Southeast Quarter of Section 20 and part of Section 29 in Township 28 North – Range 11 East of the Fourth Principal Meridian (Harrison Township) in Winnebago County, Illinois, consisting of 309 acres more or less.
Total Acres: There are a total of 309 acres, more or less, according to the Winnebago County Assessor's Office.
Tillable Acres: There are approximately 224 tillable acres.
Soil Types: Major soil types found on this farm include Fayette silt loam, Lawson silt loam, Rozetta silt loam, and Flagg silt loam.
Topography: The topography of the subject farm is level to gently rolling.
Climate / Growing Season: Winnebago County has a continental climate typical of northern 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" with over two thirds of this coming during the growing season. Snowfall averages about 36" per year.  Prevailing winds are from the west and southwest.  The climate, combined with the generally excellent soils in this area provides a nearly ideal environment for the productions of corn, wheat 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 $6,423.96. The tax parcel numbers are #06-20-400-005, #06-29-200-001, #06-29-300-007, #06-29-400-002, #06-29-300-008 and #06-29-400-001.
Grain Markets: There are a number of grain markets located within 10 miles of the Vern A. Davis Farm.
Zoning: The farm is zoned Agricultural.
 
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
280C2 Fayette silt loam 86.2 155 13361
8451A Lawson silt loam 40 190 7600
280B Fayette silt loam 34.5 165 5693
9279A Rozetta silt loam 16.1 164 2640
419C2 Flagg silt loam 10.2 151 1540
243A St. Charles silt loam 9.9 168 1663
3107A Sawmill silty clay loam 8.3 189 1569
429C2 Palsgrove silt loam 5.2 131 681
243C2 St. Charles silt loam 4 156 624
243B St. Charles silt loam 3.7 166 614
528A Lahoguess loam 2.6 170 442
419B Flagg silt loam 1.9 160 304
104A Virgil silt loam 0.8 182 146
1100A Palms muck 0.6 161 97
    Total: 224    


TOTAL ACRES - 309.0 acres, more or less
TILLABLE ACRES - 224.0 acres, or 72.5% per FSA figures
CORN YIELD - 165.1 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 119.7 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.