MGW Real Estate Auction Information

The Castle North Farm


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

Date of Auction: 7/22/2014
Time of Auction: 10:00 am
Auction Location: Klehm Arboretum & Botanic Garden - Gallery Banquet Room, 2715 S. Main Street, Rockford, IL 61102
Inspection Date: 7/9/2014
Inspection Location: 3621 Prairie Road, Rockford, IL 61102 from 4-6 pm
Directions to Auction: The auction site is located on the southwest edge of Rockford, IL. From US-20, exit at IL-2. Head north for 1.8 miles to Clifton Avenue. Turn northwest onto Clifton Avenue for 430 feet to arrive at the entrance to Klehm Arboretum & Botanic Garden. The auction will be in the Gallery Banquet Room.
Directions to Farm: The farm is located on the southwest edge of Rockford, IL. From US-20, exit at IL-2-north. Head north for 0.6 miles and turn west onto Iroquois Avenue / Sauk Lane for 0.6 miles to arrive at a T intersection with Prairie Road. The Castle North Farm is on the west side of Prairie Road; the address is 3621 Prairie Road, Rockford, IL 61102.

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 August 22, 2014. 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 2014 real estate taxes due and payable in 2015 shall be shared equally between the seller and buyer. The 2015 real estate taxes and all subsequent year taxes shall be the responsibility of the buyer.
Crops & Expenses: The buyer will receive a 2014 crop year cash rent credit at closing in the amount of $12,027.25. Rental income from the building site shall be pro-rated to the date of closing.
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: Nordic Investment Corporation
Property Details
Location: The subject farm is located approximately 74 miles west of Chicago O'Hare International Airport and is contiguous to the city of Rockford. The property address is 3621 Prairie Road, Rockford, IL 61102.
Frontage: There is approximately 5/16 mile of road frontage on Prairie Road, and 5/8 mile on U.S. Highway 20.
Major Highways: State Highway 2 is 1 mile east, State Highway 251 is 3 miles east, Interstate 39 is 8 miles east, State Highway 72 is 8 miles south and U.S. Highway 20 borders the property to the east.
Legal Description: A brief legal description indicates the Castle North Farm is located in Part of the South Half and Part of the Northwest Quarter of Section 4, Township 43 North - Range1 East (Rockford Township), in Winnebago County, Illinois.
Total Acres: There are a total of 93.87 acres, more or less, according to the Winnebago County Assessor's Office.
Tillable Acres: There are approximately 74.5 tillable acres.
Soil Types: Major soil types include Comfrey loam and Ogle 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 2,750 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. 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: All mineral rights owned by the seller will be transferred in their entirety to the new owner.
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. Names and addresses will be provided upon request.
Taxes: The 2013 Real Estate Taxes totaled $4,835.38. Of this amount, approximately $3,400 is for the 3 acre building site and the balance for the cropland. The tax parcel numbers are #15-04-152-003, and #15-04-326-002.
Grain Markets: There are a number of grain markets located within 10 miles of The Castle North Farm.
Zoning: The farm is zoned Agricultural.
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
3776A Comfrey loam 16.57 185 3065
412B Ogle silt loam 14.32 175 2506
802B Orthents, loamy 11.15 0 0
939C2 Rodman-Warsaw complex 5.95 116 690
566C2 Rockton and Dodgeville soils 5.47 126 689
199B Plano silt loam 4.64 192 891
506B Hitt silt loam 4.4 156 686
9051A Muscatune silt loam 4.22 200 844
369A Waupecan silt loam 3.18 189 601
363D2 Griswold loam 1.94 145 281
297D2 Ringwood silt loam 1.71 163 279
198A Elburn silt loam 0.65 197 128
86B Osco silt loam 0.28 189 53
    Total: 74.48    

TOTAL ACRES - 93.9 acres, more or less
TILLABLE ACRES - 74.5 acres, or 79.3% per FSA figures
CORN YIELD - 143.8 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 114.1 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.