MGW Real Estate Auction Information


The Marie Fabrizius 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: 4/10/2015
Time of Auction: 10:00 am
Auction Location: Maple Park American Legion, 203 Main Street, Maple Park, IL 60151
Inspection Date:
Inspection Location: Please call to schedule an inspection.
Directions to Auction: From Illinois Route 38 in Maple Park, head north 0.6 miles on East County Line Road. Then, turn east onto Main Street. The American Legion will be on the north side of the road.
Directions to Farm: From the intersection of Illinois Route 64 and Meredith Road in Virgil, head south 2.5 miles 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 May 12, 2015. 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 2015 real estate taxes due and payable in 2016 shall be paid by the buyer. All prior year taxes shall be the responsibility of the seller and all subsequent year taxes shall be the responsibility of the buyer.
Crops & Expenses: The buyer shall receive a 2015 crop year cash rent credit at closing in the amount of $12,000.
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 gross 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: Marie Fabrizius Trust
Property Details
Location: The subject farm is located approximately 32 miles southwest of Chicago O'Hare International Airport. Nearby towns include: Virgil (1 1/2 miles north), Maple Park (2 1/4 miles west), and Elburn (3 miles southeast).
Frontage: There is 1/4 mile of road frontage on McNulty Road and 1/2 mile on Meredith Road.
Major Highways: Illinois Route 38 is 1 mile south, Illinois Route 64 is 2 1/2 miles north, Illinois Route 47 is 3 miles east, and Interstate 88 is 3 1/2 miles southwest of the property.
Legal Description: A brief legal description indicates The Marie Fabrizius Farm is located in Part of the Northwest Quarter and Part of the Southeast Quarter of Section 27, Township 40 North - Range 6 East (Virgil Township), Kane County, Illinois.
Total Acres: There are approximately 80 acres, more or less, according to the Kane County Assessor's Office.
Tillable Acres: There are approximately 80.15 tillable acres, according the Kane County FSA.
Soil Types: Major soil types found on this farm include Somonauk silt loam and Drummer silty clay loam.
Topography: The topography of the subject farm is level to gently rolling.
Climate / Growing Season: Kane 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 2,854 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 32 inches per year. Prevailing winds are from the west. 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: Closing shall be on or before May 12, 2015. 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.
Financing: Mortgage financing is available from several sources. Names and addresses will be provided upon request.
Taxes: The 2013 real estate taxes totaled $2,334.82. The tax parcel numbers are #07-27-100-003 and #07-27-400-001.
Grain Markets: There a number of grain markets located within 10 miles of The Marie Fabrizius Farm.
Zoning: The Marie Fabrizius Farm is zoned F - Farming District. Proposals for building a home on either parcel will require county approval. Parcel 2, which is less than 40 acres, will require a grant of a variance to comply with minimum acreage needs.
 
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
668B Somonauk silt loam 37.73 161 6075
152A Drummer silty clay loam 28.74 195 5604
134C2 Camden silt loam 6.52 154 1004
662B Barony silt loam 2.73 170 464
242A Kendall silt loam 2.23 172 384
570B Martinsville silt loam 1.44 153 220
219A Millbrook silt loam 0.76 177 135
    Total: 80.15    


TOTAL ACRES - 80.0 acres, more or less
TILLABLE ACRES - 80.2 acres, or 100.2% per FSA figures
CORN YIELD - 173.3 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 173.6 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.