MGW Real Estate Auction Information

The LDB Trust Farm


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

Date of Auction: 1/14/2016
Time of Auction: 1:00 pm
Auction Location: Henry American Legion, 303 Main Street, Henry, IL 61537
Inspection Date:
Inspection Location: Please call to schedule an inspection.
Directions to Auction: From the intersection of IL Route 18 and IL Route 26, travel west 1.1 miles into Henry, then turn left onto Front Street and travel 0.2 miles to Main Street. Turn right onto Main Street to arrive at the American Legion.
Directions to Farm: From the intersection of IL Route 29 and County Road 1300 N, travel west on County Road 1300 N for 4.3 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 February 16, 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 seller. The 2016 real estate taxes and all subsequent year taxes shall be the responsibility of the buyer.
Crops & Expenses: The property is free of leases 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.
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: LDB Trust
Property Details
Location: The subject farm is located approximately 98 miles southwest of Chicago O'Hare International Airport. Nearby towns include: Henry (4 miles east), Peru (20 miles northeast), and Chillicothe (12 miles south).
Frontage: There is 1/8 mile of road frontage on County Road 1300 N and 3/16 mile on County Road 950 E.
Major Highways: Illinois Route 29 is 3 miles southeast, Illinois Route 18 is 4 miles east, Illinois Route 17 is 5 1/4 miles south, and Illinois Route 40 is 10 1/2 miles west of the property.
Legal Description: A brief legal description indicates The LDB Trust Farm is located in Part of the Northeast Quarter of Section 15, Township 13 North - Range 9 East (Whitefield Township), Marshall County, Illinois.
Total Acres: There are a total of 76.61 total acres, according to a recent survey.
Tillable Acres: There are approximately 75.3 tillable acres.
Soil Types: The major soils types found on this farm include: Sable silty clay loam, Osco silt loam, and Muscatune silt loam.
Topography: The topography of the subject farm is level to nearly level.
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 February 16, 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 estimated 2014 real estate taxes were approximately $2,960. The farm is currently part of tax parcel #02-15-200-006.
Grain Markets: There are a number of grain markets located within 15 miles of The LDB Trust Farm.
Zoning: The LDB Trust Farm is zoned AG - Agricultural.
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
68A Sable silty clay loam 25.28 192 4854
86B Osco silt loam 25.06 189 4736
51A Muscatune silt loam 24.96 200 4992
    Total: 75.3    

TOTAL ACRES - 76.6 acres, more or less
TILLABLE ACRES - 75.3 acres, or 98.3% per FSA figures
CORN YIELD - 193.7 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 190.3 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.