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VIRTUAL LIVE ONLINE AUCTION: Tuesday, November 29, 2022 at 1 p.m. CT at mgw.us.com/faivre
Auction Date
Nov 29, 2022 - 1:00 PM
Inspection Date
Nov 07, 2022
Nov 12, 2022
Nov 12, 2022
Inspection Location
Inspections will be Monday, November 7, 2022, 3 p.m. to 5 p.m. and Saturday, November 12, 2022, 9 a.m. to 11 a.m. at Tract 8, located at 8242 South Malta Road, DeKalb, IL 60115.
Auction Terms & Conditions
agency
Martin, Goodrich & Waddell, Inc. and its representatives are agents of the owner.
earnest money escrow
The successful bidder as determined by the auctioneer is required to make a 10% down payment of the accepted bid price within 24 hours of the auction closing, with the balance due at closing. The earnest money payment may be submitted by cashier’s check or wire transfer.
closing
The closing date for Tracts 1, 2, 3 & 4 shall be on or before December 20, 2022, and the closing date for Tracts 5, 6, 7 & 8 shall be on or before January 10, 2023. 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 2022 real estate taxes due and payable in 2023 shall be paid by the seller. The 2023 real estate taxes and all subsequent year taxes shall be paid by the buyer.
Crops And Expenses
The seller will retain the 2022 crop year income.
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 provide a boundary survey by a licensed land surveyor at the seller’s expense, dated no more than six (6) months prior to closing. Final purchase price for Tracts 1 through 7 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.
Bidding Information
All bidders must register and be approved before the auction starts. The Auctioneer will call bids from the offices of Martin, Goodrich & Waddell, Inc., and you will be able to view and listen to the auction on-screen as the sale proceeds. To register, go to mgw.us.com/faivre, click on the “Click Here to Bid” button, and follow the prompts to register. Bidders will receive additional information via email within 48 hours prior to the auction. The auction is online only and there will not be advance bidding. Bidding is not conditional upon financing.
Method
The property will be offered in an 8-tract virtual live online auction at 1 p.m. on November 29, 2022. Tracts 1 through 7 will be offered using the high bidder’s choice method, with the choice to the high bidder to take any one tract or combination of tracts. Should the high bidder not select all tracts, the remaining parcels will be offered with another round of bidding until all tracts are selected. Bidding will be on a per acre basis, multiplied by gross surveyed acres. Tract 8 will then be offered on a total dollar basis. The seller reserves the right to accept or reject any or all bids. All successful bidders will enter into a purchase agreement with the seller immediately following the auction. Upon the close of the auction, the purchase agreement will be forwarded to the successful bidders via email. A signed copy of the purchase agreement must be received by Martin, Goodrich & Waddell, Inc. within 24 hours of the auction closing.
Attorney for Seller
Matthew L. Brown, Brown Law Group, DeKalb, Illinois.
Property Details
location
The Charles & Geraldine Faivre Farms are located approximately 45 miles west of Chicago O’Hare International Airport. Nearby cities include: DeKalb, Sycamore and Rochelle.
frontage
There is approximately 1 3/8 mile of road frontage on South Malta Road (Tracts 1, 2, 3, 5 & 8), 1/4 mile on Fairview Drive (Tract 4), 1/4 mile on Willrett Road (Tract 5), 3/8 mile on Heal Road (Tract 6), 3/4 mile on West County Line Road (Tract 6), 1/4 mile on Mulford Road (Tract 7), and 3/8 mile on Twombly Road (Tract 7).
major highways
The Charles & Geraldine Faivre Farms are in close proximity to Illinois Routes 23, 38, 64, 251, U.S. Route 51, and Interstates 39 and 88.
legal description
The Charles & Geraldine Faivre Farms are located in DeKalb and Malta Townships, DeKalb County, Illinois and Dement Township, Ogle County, Illinois.
total acres
There are a total of 760.43 acres, more or less, estimated.
topography
The topography of the subject farms is level to gently rolling.
financing
Mortgage financing is available from several sources. Names and addresses will be provided upon request.
taxes
A breakdown of the 2021 real estate taxes and parcel numbers is available in the detailed brochure.
grain markets
There are a number of grain markets located within 15 miles of The Charles & Geraldine Faivre Farms.
improvements
Please see the detailed brochure for list of improvements on Tract 8.
comments
Tracts 4 and 6 are subject to an Option Agreement for Underground Line Transmission Easement with Soo Green HVDC Link Projectco, LLC. Information on this Option will be provided to interested buyers upon request.
The large barn doors on the south end of the farmstead have been previously used to allow airplane storage, for planes that were used on the nearby restricted landing area. The designator for the airport/landing area is IS80 – Uncle Chucks RLA, and a copy of the current certificate is available in the Appendix.
The large barn doors on the south end of the farmstead have been previously used to allow airplane storage, for planes that were used on the nearby restricted landing area. The designator for the airport/landing area is IS80 – Uncle Chucks RLA, and a copy of the current certificate is available in the Appendix.