The Belvidere Farms

Auction Date

Jan 22, 2019 - 1:00 PM

Inspection Date

Jan 08, 2019

Inspection Location

MGW representatives will be available at tracts 11, 12 & 13 from 11 a.m. to 1 p.m.

Directions to Auction

At the intersection of US-20 Business and Illinois Route 76, head west on US-20 Business for 0.5 miles to Beloit Road. Then travel north on Beloit Road 0.2 miles to arrive at the Moose Lodge.

agency

Martin, Goodrich & Waddell, Inc. and its representatives are agents of the owner.

earnest money escrow

The successful bidders, as determined by the auctioneer, are 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 19, 2019. 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.

real estate taxes

For tracts 1 through 10, the 2018 real estate taxes due and payable in 2019 shall be paid by the seller. The 2019 real estate taxes and all subsequent year taxes shall be the responsibility of the buyer. For tracts 11, 12 and 13, the real estate taxes shall be pro-rated between the seller and buyer through the date of closing.

Crops And Expenses

The 2018 crop year income shall be retained by the seller. The properties are free of leases after the 2018 crop year. Wheat has been planted on tracts 1, 2, 3, 4 and 7. All rights to the wheat crop will transfer to the 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

The final purchase price for tracts 1 through 10 will be based upon gross surveyed acres.

disclaimer

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.

Photography

Photographs, as well as video and voice recording, are prohibited at the auction without prior written consent from the auctioneer.

Mineral Rights

The buyer will receive and the seller will convey all mineral rights that the seller owns relating to the property.

Method

The farmland will be offered using the “high bidder’s choice” method on tracts 1 through 10. Bidding on these tracts will be on a per acre basis, multiplied by the number of acres as determined by a survey. Tracts 11, 12 and 13 will then be bid individually, on a total dollar basis. All successful bidders will enter into a purchase agreement with the seller immediately following the auction. The seller reserves the right to accept or reject any or all bids.

location

Located approximately 45 miles northwest of Chicago O'Hare International Airport.

legal description

A brief legal description indicates The Belvidere Farms are located in Parts of Sections 3, 4, 8, 9, 10, 11, 14 & 17 in Township 43 North – Range 4 East (Spring Township), Part of Section 32, Township 44 North – Range 4 East (Poplar Grove Township), Part of Sections 35 & 36, Township 45 North – Range 3 East (Belvidere Township), and Part of Section 11, Township 46 North – Range 3 East (Manchester Township), all in Boone County, Illinois.

total acres

There are a total of approximately 896.73 acres, estimated.

tillable acres

There are approximately 699.73 tillable acres, estimated. Detailed soils information for each tract can be found in the brochure.

location 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.

major highways

The Belvidere Farms are in close proximity to Interstate 90, U.S. Route 20, and Illinois Route 76.

soil types

Major soils types on these farm include: Kidami silt loam, Odell silt loam, Parr silt loam, Drummer silty clay loam, Kidami loam, Pecatonica silt loam, Kidder loam, and Flagg silt loam.

topography

The topography of the subject farms is level to gently rolling.

grain markets

There are a number of grain markets located within 15 miles of The Belvidere Farms.

zoning

Tracts 1-7, 11 & 12 are zoned A-1, Ag. Preservation (Boone County), tract 8 is zoned R-C, Residential Conservation (Boone County Zoning), tracts 9 & 10 are zoned R-1, Single Family Residential 1 District (Poplar Grove Zoning), and tract 13 is zoned I-2, Heavy Industrial (Boone County Zoning).

improvements

There are improvements on Tracts 11, 12 and 13. Please contact our office for additional information.

comments

Title commitments and purchase contract are available in the brochure and surveys are available upon request. The information in the brochure is considered accurate, but not guaranteed. For inquiries and inspection appointments, please contact Mark Mommsen at Martin, Goodrich & Waddell, Inc. at 815-901-4269.