MGW Real Estate Auction Information

The Goodwin Farm


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

Date of Auction: 9/18/2013
Time of Auction: 10:00 am
Auction Location: The Hickory Grove Banquet and Conference Center, 1127 N. 7th Street, Rochelle, IL 61068
Inspection Date: 9/18/2013
Inspection Location: Please call to schedule an inspection.
Directions to Auction: The auction will be held in the VIP Room at the Hickory Grove Banquet and Conference Center in Rochelle, IL. The center is located north of the intersection of IL Route 38 and IL Route 251.
Directions to Farm: From IL Route 38, head north on IL Route 251 for 0.5 miles to Flagg Road. Then, travel west for 1.3 miles to South Queens Road. Go north onto South Queens Road for 1 mile to arrive at the farm. The property is on the west side of the road.

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 November 15, 2013. 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: The 2013 real estate taxes, drainage assessment taxes, and special assessments due and payable in 2014 shall be paid by the seller. All subsequent year taxes shall be the responsibility of the buyer.
Crops & Expenses: Seller shall retain the landlord share for the 2013 crop year. The current tenant has a right of first refusal agreement on leasing the farm. Please call Mark Mommsen for details.
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 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: Goodwin Properties, LLC
Property Details
Location: The subject farm is located approximately 60 miles west of Chicago O'Hare International Airport and is contiguous to the city of Rochelle. Nearby towns include: Davis Junction (9 miles north), Oregon (12 miles northwest), and DeKalb (16 miles east).
Frontage: There is 1/4 mile of road frontage on South Queens Road and 3/4 mile on South Kings Road.
Major Highways: Illinois Route 251 is 1 1/2 miles east, Illinois Route 38 is 2 miles southeast, Illinois Route 64 is 3 1/4 miles north, and Interstate 39 is 3 1/2 miles east of the property.
Legal Description: A brief legal description indicates the Goodwin Farm is located in the South Half of the Northeast Quarter of Section 10, Township 40 North - Range 1 East (Flagg Township) in Ogle County, Illinois.
Total Acres: There are a total of 79.805 acres according to a survey.
Tillable Acres: There are approximately 77.1 tillable acres.
Soil Types: Major soil types found on this farm include Jasper loam, Dickinson sandy loam, and La Hogue loam.
FSA Data: The FSA direct corn yield is 117 bushels per acre and the FSA corn base is 60.8 acres. The FSA direct bean yield is 37 bushels per acre and the FSA bean base is 15.9 acres. The FSA direct wheat yield is 52 bushels per acre and the FSA wheat base is 0.4 acres.
Topography: The topography of the subject farm is level.
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" with over 2/3 of this coming during the growing season. Snowfall averages about 33" per year. Prevailing winds are from the west and southwest. This climate, combined with the generally excellent soils in this area, provides 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 is subject to the rights of any tenants in possession.
Financing: Mortgage financing is available from several sources. Names and addresses will be provided upon request.
Taxes: The 2012 real estate taxes totaled $1,176.54 and the tax parcel number is #24-10-200-002.
Grain Markets: There are a number of grain markets located within 10 miles of the Goodwin Farm.
Zoning: The farm is zoned Ag-1, Agricultural District.
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
440B Jasper loam 37.3 173 6453
87B Dickinson sandy loam 15.5 141 2186
102A La Hogue loam 15.4 162 2495
125A Selma loam 5.6 176 986
440A Jasper loam 3.3 175 578
    Total: 77.1    

TOTAL ACRES - 79.8 acres, more or less
TILLABLE ACRES - 77.1 acres, or 96.6% per FSA figures
CORN YIELD - 164.7 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 159.1 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.