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ONLINE AUCTION: Visit mgw.us.com/dieterich to bid. Auction closes June 8, 2018, beginning at noon.
Auction Terms & Conditions
Martin, Goodrich & Waddell, Inc. and its representatives are agents of the owner.
Closing shall be on or before August 8, 2018. 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 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.
crops and expensess
The 2018 crop share income shall be retained by the seller. The property is free of leases after the 2018 crop year.
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.
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.
Announcements made the day of the auction supersede any previously made statements or material provided, whether printed or oral. Information contained in marketing materials is subject to the terms and conditions of the purchase contract between the seller and buyer. All maps, data, acreages, and images in this marketing 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.
The farm will be offered as the entire 60 acres, more or less, and the parcels will not be separated. Bidding will be on a per acre basis, multiplied by the total number of advertised acres (60 acres). The successful bidder will enter into a purchase contract with the seller immediately following the auction. Upon the close of the auction, the contract will be forwarded to the successful bidder via email or fax. A signed copy of the purchase contract must be received by Martin, Goodrich & Waddell, Inc. within 24 hours of the auction closing.
The purchase contract will be contingent upon a right of first refusal option by a third party. Once notified of the purchase contract terms, the third party will have 30 days within which to elect or waive the right to buy the real estate. If the third party fails to exercise the option, then the property may be sold to the high bidder. The seller reserves the right to accept or reject any or all bids.
Bidding is not conditional upon financing. A 10% earnest money payment is required to accompany the purchase contract and may be submitted by check or wire transfer. Bidding ends beginning at noon Central Time on Friday, June 8th, 2018. A bid placed within 5 minutes of the scheduled close of the auction will extend bidding by 5 additional minutes until all bidding is completed. If you plan to bid, please register 24 hours prior to the auction closing.
Description of Property
The Southeast Quarter of the Northeast Quarter of Section 26 and the North Half of the Northwest Quarter of the Northeast Quarter of Section 27, all in Township 7 North – Range 7 East (Bishop Township), Effingham County, Illinois.
The buyer will receive and the seller will convey all mineral rights that the seller owns, if any, relating to the property.
The subject farms are located approximately 107 miles northeast of St. Louis Lambert International Airport. Nearby towns include: Dieterich (1 1/4 miles north), Effingham (8 miles northwest), and Newton (10 miles southeast).
Parcel 1 has approximately 1/4 mile of road frontage on Co Road 2300 E and 1/4 mile on Co Road 750 N. There is ingress and egress access to Parcel 2. See deeds in the detailed brochure for details.
Illinois Route 33 is 2 1/4 miles northeast, U.S. Route 45 is 7 1/4 miles west, and Interstate 57 is 9 miles west of the properties.
A brief legal description indicated The Dieterich Farms are located in the Southeast Quarter of the Northeast Quarter of Section 26 and the North Half of the Northwest Quarter of the Northeast Quarter of Section 27, all in Township 7 North – Range 7 East (Bishop Township), Effingham County, Illinois.
There are a total of 60 acres, more or less, according to the Effingham County Assessor’s Office.
There are approximately 37.75 tillable acres on Parcel 1 and approximately 2.4 tillable acres on Parcel 2, according to the Effingham County FSA. The Parcel 2 tillable acreage includes 1.60 acres currently enrolled in CRP with an annual contract payment of $399 through 9/30/2028.
Hoyleton silt loam is the primary soil type on Parcel 1. The Productivity Index is 104.9 for Parcel 1 and the Corn Yield Rating for Parcel 1 is 141.2 bushels per acre, based on tillable acres.
Detailed FSA information can be found in the brochure.
The topography of Parcel 1 is level to nearly level and the topography of Parcel 2 is level to rolling.
All mineral rights owned by the seller, if any, will be transferred in their entirety to the new owner.
Possession will be given at closing, subject to the terms and conditions set forth in a purchase contract.
Mortgage financing is available from several sources. Names and addresses will be provided upon request.
The 2016 real estate taxes totaled $265.90. Parcel 1 totaled $252.04 and Parcel 2 totaled $13.86. The tax parcel numbers are #02-14-026-026 (Parcel 1) and #02-14-027-031 (Parcel 2).
There are a number of grain markets located within 15 miles of The Dieterich Farms.