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ONLINE AUCTION - The auction platform is open for bidding. The auction closes November 18, 2021, beginning at 1 p.m. Central Time.
Auction Date
Nov 18, 2021 - 1:00 PM
Inspection Location
Please call to schedule an inspection.
Directions to Auction
ONLINE AUCTION: The auction platform is open for bidding. Please visit mgw.us.com/florameadows to bid. The auction closes November 18, 2021, beginning at 1 p.m. Central Time.
Directions to Farm
From Illinois Route 173 in Poplar Grove, travel south 0.2 miles on Illinois Route 76 to arrive at the farm.
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 on the day of auction with the balance due at closing. Bidding is not conditional upon financing.
closing
Closing shall be on or before December 16, 2021. 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 2021 real estate taxes due and payable in 2022 shall be paid by the seller. The 2022 real estate taxes and all subsequent year taxes shall be paid by the buyer.
Crops And Expenses
The seller will retain the 2021 crop year cash rent.
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 6 (six) months prior to closing. Final purchase price 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.
Description of Property
Part of the Northeast Quarter of Section 23, Township 45 North – Range 3 East (Poplar Grove Township), Boone County, Illinois.
Method
The property will be offered in one tract in an online auction. Bidding will be on a per acre basis, multiplied by gross surveyed acres. 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 or fax. A signed copy of the purchase agreement must be received by Martin, Goodrich & Waddell, Inc. within 24 hours of the auction closing. A 10% earnest money payment is required to accompany the purchase agreement and may be submitted by cashier’s check or wire transfer. Bidding ends at 1:00 p.m. Central Time on Thursday, November 18th, 2021. 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. Bidding is not conditional upon financing.
Mineral Rights
The buyer will receive and the seller will convey all mineral rights that the seller owns relating to the property.
Property Details
location
The subject property is located approximately 55 miles northwest of Chicago O'Hare International Airport and within the Village of Poplar Grove. Nearby cities include: Machesney Park (5 miles west), Belvidere (6 miles south), and Rockford (6 1/2 miles southwest).
frontage
There is approximately 3/8 mile of road frontage on Illinois Route 76.
major highways
Illinois Route 76 is the west border of the property, Illinois Route 173 is 1/8 mile north, and Interstate 90 is 5 7/8 miles west of the property.
legal description
A brief legal description indicates The Flora Meadows Farm is located in Part of the Northeast Quarter of Section 23, Township 45 North—Range 3 East (Poplar Grove Township), Boone County, Illinois.
total acres
There are a total of 65.9 acres according to the Boone County Assessor.
tillable acres
There are approximately 52 tillable acres, estimated.
soil types
Major soil types found on this farm include Drummer silty clay loam, St. Charles silt loam, and Kidder loam..
topography
The topography of the subject farm is level to gently rolling.
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
The buyer will receive and the seller will convey all mineral rights that the seller owns relating to the property.
possession
Closing shall be on or before December 16, 2021. 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.
financing
Mortgage financing is available from several sources. Names and addresses will be provided upon request.
taxes
The 2020 real estate taxes totaled $2,231.98 and the tax parcel numbers are #03-23-200-014, #03-23-200-016, & #03-23-200-017.
grain markets
There are a number of grain markets located within 10 miles of The Flora Meadows Farm.
zoning
The Flora Meadows Farm is zoned LI - Light Industrial District.