The Freeport Farm

Price: Auction
County: Stephenson

Contact Details
Mark T. Mommsen
Mobile: 815-901-4269
Phone: 815-756-3606
Email: Mark.Mommsen@mgw.us.com

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Auction to be held at Stephenson County Farm Bureau, 210 W. Spring Street, Freeport, IL 61032.
Auction Date
Mar 28, 2019 - 1:00 PM
Inspection Location
Please call to schedule an inspection.
Directions to Auction
The Farm Bureau is located at the corner of U.S. Route 20 Business and W. Spring Street in Freeport.
Directions to Farm
From U.S. Route 20 Business, travel south 0.3 mile on S. Springfield Road 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. Payment shall be in the form of a personal check or cashier’s check.
closing
Closing shall be on or before April 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. 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 property is free of leases.
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. 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 Northwest Quarter of Section 11, Township 26 North – Range 8 East (Silver Creek Township), Stephenson County, Illinois.
Method
The farm will be offered as one tract. Bidding will be on a per acre basis, multiplied by the number of acres as determined by a survey. The successful bidder 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.
Mineral Rights
The buyer will receive and the seller will convey all mineral rights that the seller owns relating to the property, which is fifty percent of the mineral rights.
Photography
Photographs, as well as video and voice recording, are prohibited at the auction without prior written consent from the auctioneer.

Property Details

location
The subject farm is located approximately 86 miles northwest of Chicago O'Hare International Airport. Nearby cities include: Freeport (2 1/4 miles west), Byron (15 1/2 miles southeast), and Rockford (20 miles east).
frontage
There is approximately 5/16 mile of road frontage on S. Springfield Road.
major highways
U.S. Route 20 Business is 5/16 mile north, U.S. Route 20 is 7/16 mile northeast, Illinois Route 75 is 2 5/8 miles northwest, and Illinois Route 26 is 4 miles west of the property.
legal description
A brief legal description indicates The Freeport Farm is located in Part of the Northwest Quarter of Section 11, Township 26 North – Range 8 East (Silver Creek Township), Stephenson County, Illinois.
total acres
There are a total of 88.68 acres, more or less, according to the Stephenson County Assessor’s Office.
tillable acres
There are approximately 85.3 tillable acres, estimated.
soil types
Major soils types on this farm include Hitt silt loam and Plano silt loam.
topography
The topography of the subject farm is level to gently rolling.
location climate growing season
Stephenson 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. 
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.
taxes
The 2017 real estate taxes totaled $3,726.12. The tax parcel number is #04-19-11-176-001.
grain markets
There are a number of grain markets located within 10 miles of The Freeport Farm.
zoning
The Freeport Farm is zoned M-2, General Manufacturing.
comments
-Adjacent to industrial development
-Productive soils
-High percentage tillable
-Future development potential
-In close proximity to US-20
mineral rights
The buyer will receive and the seller will convey all mineral rights that the seller owns relating to the property, which is fifty percent of the mineral rights.

Soils Information

Soil # Soil Name Acres +/- Productivity Index* Weighted Average Corn Yield Index* Gross Bushels
506C2Hitt silt loam38.211101475,617
199BPlano silt loam26.651411925,117
199APlano silt loam20.441421943,965
Total Acres : 88.68 acres, more or less
Tillable Acres : 85.30 acres, or 96.19% per FSA figures
Productivity Index : 127.35
Weighted Average Corn Yield Index : 172.32 bushels per acre, based on tillable acres
Comparable Yield Index : 165.75 bushels per acre, based on total acres

Disclaimer: Although the information contained in this brochure is considered to be accurate, no representation or warranty to that effect is being made. The information contained herein is subject to verification, and no liability for errors or omissions is assumed. The listing may be withdrawn with or without notice, and the stated price and terms are subject to change without notice or approval. The Seller further reserves the right to reject any and all offers. All inquiries, inspection appointments, and offers must be channeled through the Seller’s Designated Agent.

*Figures taken from the University of Illinois Bulletin 811, Optimum Crop Productivity Ratings for Illinois Soils.

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