MGW Real Estate Auction Information

The Gustafson Farm


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

Date of Auction: 6/25/2015
Time of Auction: 10:00 am
Auction Location: Byron American Legion, 116 N. Union Street, Byron, IL 61010
Inspection Date:
Inspection Location: Please call to schedule an inspection.
Directions to Auction: From the intersection of IL Route 2 & IL Route 72 in Byron, travel north 75 feet to arrive at the American Legion.
Directions to Farm: From the intersection of IL Route 2 & IL Route 72 in Byron, continue west on W. Blackhawk Drive 0.4 miles, then travel north on Colfax Street 0.9 miles. Continue onto N. Tower Road for 2 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 July 27, 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 the current farm operator through the 2015 crop year.
Real Estate Taxes: The 2015 real estate taxes due and payable in 2016 shall be shared equally between the seller and buyer. 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 $7,000. Buyer shall receive the owner's share (or cash rent) for the 2016 crop year.
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.
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: John Gustafson
Property Details
Location: The subject farm is located approximately 70 miles northwest of Chicago O'Hare International Airport. Nearby towns include: Byron (3/4 mile south), Rockford (7 miles northeast), and Oregon (9 3/4 miles southwest).
Frontage: There is 1/8 mile of road frontage on Tower Road and 1/4 mile on Lynn Road.
Major Highways: Illinois Route 2 is 1 1/2 miles east and 2 3/8 miles south, Illinois Route 72 is 2 3/8 miles south, U.S. Route 20 is 8 1/4 miles north, and Interstate 39 is 12 3/8 miles east of the property.
Legal Description: A brief legal description indicates The Gustafson Farm is located in Part of the South Half of Section 18, Township 25 North - Range 11 East (Byron Township), Ogle County, Illinois.
Total Acres: There are approximately 60 acres, according to the Ogle County Assessor's Office.
Tillable Acres: There are 57.75 cropland acres, according to the Ogle County FSA.
Soil Types: Major soil types found on this farm include Wyanet silt loam and Jasper loam.
Topography: The topography of the subject farm is level to 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 2,854 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: Closing shall be on or before July 27, 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 the current farm operator through the 2015 crop year.
Financing: Mortgage financing is available from several sources. Names and addresses will be provided upon request.
Taxes: The 2014 real estate taxes totaled $826.86. The tax parcel number is #05-18-400-002.
Grain Markets: There are a number of grain markets located within 15 miles of The Gustafson Farm.
Zoning: The Gustafson Farm is zoned AG-1, Agricultural.
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
622C2 Wyanet silt loam 24.71 150 3706
440B Jasper loam 24.17 173 4181
622B Wyanet silt loam 3.78 159 601
199A Plano silt loam 2.79 194 541
490A Odell silt loam 1.86 176 327
440A Jasper loam 0.44 175 77
    Total: 57.75    

TOTAL ACRES - 60.0 acres, more or less
TILLABLE ACRES - 57.8 acres, or 96.3% per FSA figures
CORN YIELD - 163.3 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 157.2 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.