MGW Real Estate Auction Information


The Bosetti 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: 8/16/2016
Time of Auction: 1:00 pm
Auction Location: Belvidere American Legion, 900 W. Chrysler Drive, Belvidere, IL 61008
Inspection Date:
Inspection Location: Please call to schedule an inspection.
Directions to Auction: From the intersection of U.S. Route 20 and Pearl Street, travel south to the first cross street, which is Chrysler Drive. Proceed west 0.5 miles on W Chrysler Drive to arrive at the American Legion.
Directions to Farm: From the intersection of U.S. Route 20 and Pearl Street, travel south on Pearl Street 0.4 miles to Pearl Street Road. Continue south on Pearl Street Road 1.9 miles, then turn left to stay on Pearl Street Road. Travel south 3.4 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 September 16, 2016. 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 2016 real estate taxes due and payable in 2017 shall be shared equally between the seller and buyer. The 2017 real estate taxes and all subsequent year taxes shall be the responsibility of the buyer.
Crops & Expenses: The 2016 crop year cash rent shall be shared equally between the seller and buyer.
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: Bosetti Family Farm Trust
Property Details
Location: The subject farm is located approximately 48 miles northwest of Chicago O'Hare International Airport. Nearby towns include: Kirkland (4 1/8 miles south), Belvidere (4 3/4 miles north), and Cherry Valley (6 3/4 miles northwest).
Frontage: There is approximately 1/4 mile of road frontage on Pearl Street Road and 3/8 mile on Ollman Road.
Major Highways: Illinois Route 72 is 4 1/4 miles south, Interstate 90 is 4 3/4 miles north, U.S. Route 20 is 5 1/4 miles north, and Interstate 39/U.S. Route 51 is 9 1/2 miles west of the property.
Legal Description: A brief legal description indicates The Bosetti Farm is located in Part of Section 36, Township 43 North - Range 3 East (Flora Township), Boone County, Illinois.
Total Acres: There are a total of 176.5 acres, more or less, according to the Boone County Assessor's Office.
Tillable Acres: There are approximately 143.95 tillable acres, according to the DeKalb County FSA.
Soil Types: Major soil types found on this farm include Drummer silty clay loam and Kidami silt loam.
Topography: The topography of the Bosetti Farm is level to gently rolling.
Climate / Growing Season: Boone County has a continental climate typical of north-central 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" with over 2/3 of this coming during the growing season. Snowfall averages about 36" 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 production 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 2015 real estate taxes totaled $4,567.54. The tax parcel numbers are #07-36-100-009, #07-36-200-003, #07-36-400-002, #07-36-400-003.
Grain Markets: There are a number of grain markets located within 15 miles of The Bosetti Farm.
Zoning: The Bosetti Farm is zoned A-1, Agricultural. The Bosetti Farm, as a whole, qualifies for the building of one home on the property. In the event the farm is sold in two separate tracts, tract one (1) would be buildable and tract two (2) would not be buildable.
 
Soils Information
Soil # Soil Name Approx Acres Corn Yield Gross Bushel
152A Drummer silty clay loam 48.19 195 9397
527B Kidami silt loam 34.78 155 5391
242A Kendall silt loam 23.69 172 4075
104A Virgil silt loam 22.58 182 4110
527C2 Kidami loam 4.64 149 691
59A Lisbon silt loam 3.47 188 652
62A Herbert silt loam 3.39 179 607
570A Martinsville silt loam 2.05 155 318
21C2 Pecatonica silt loam 1.16 143 166
    Total: 143.95    


TOTAL ACRES - 176.5 acres, more or less
TILLABLE ACRES - 144.0 acres, or 81.6% per FSA figures
CORN YIELD - 176.5 bushels per acre, based on tillable acres
COMPARABLE YIELD INDEX - 143.9 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.