Property Details
location
The subject farm is located approximately 60 miles southwest of Chicago O'Hare International Airport. Nearby cities include: Paw Paw (4 1/4 miles southeast), Shabbona (7 1/2 miles northeast), and Rochelle (8 3/8 miles north).
frontage
There is approximately 1/2 mile of road frontage on Bingham Road and 1/2 mile on Fisk Road.
major highways
Illinois Route 251 is 1 mile west, U.S. Route 30 is 1 1/4 miles north, and Interstate 39/U.S. Route 51 is 2 miles east.
legal description
A brief legal description indicates The Bingham Road Farm is located in Part of the East Half of Section 25, Township 38 North – Range 1 East (Viola Township) and Part of the West Half of Section 30, Township 38 North – Range 2 East (Willow Creek Township), all in Lee County, Illinois.
total acres
There are a total of 253.331 acres according to a survey.
tillable acres
There are 244.5 acres currently leased for row crop production.
soil types
Major soil types found on this farm include Wyanet silt loam, Elpaso silty clay loam and Saybrook silt loam. The weighted average Productivity Index (PI) is 125.2.
topography
The topography of the subject farm is level to gently rolling.
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.
price terms
The asking price is $14,350 per acre. A 10% earnest money deposit should accompany any offer to purchase.
financing
Mortgage financing is available from several sources. Names and addresses will be provided upon request.
grain markets
There are a number of grain markets located within 15 miles of The Bingham Road Farm.
zoning
The property is zoned AG1 (Rural/Agricultural District) & AG1 SPU (Rural/Agricultural District Special Use).
Wind Turbines
The most recent annual lease payment for the two wind turbines on the property was $25,130.54. Details of the wind lease are available upon request.
Yield History
The Bingham Road Farm has produced an average of 249 bushels of corn per acre over the last four growing seasons.