Auction to be held at Belvidere Moose Lodge, 575 Beloit Road, Belvidere, IL 61008
Dec 05, 2018 - 1:00 PM
Please call to schedule an inspection.
Directions to Auction
At the intersection of US-20 Business and Illinois Route 76, head west on US-20 Business for 0.5 miles to Beloit Road. Then travel north on Beloit Road 0.2 miles to arrive at the Moose Lodge.
Directions to Farm
From U.S. Route 20 in Garden Prairie, travel north on Garden Prairie Road for 1.6 miles to Marengo Road. Head west on Marengo Road 2 miles to Denny Road, and then north 0.4 miles on Denny Road to arrive at the farm.
Auction Terms & Conditions
Freise Revocable Trusts
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 shall be on or before January 8, 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.
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 year 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.
Seller shall secure a boundary survey by a licensed land surveyor at the seller’s expense, dated no more than six (6) months prior to closing. The final purchase price will be based upon gross surveyed acres.
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.
Some photos in this brochure may be stock photography and are for illustrative purposes only.
The farmland 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.
The buyer will receive and the seller will convey all mineral rights that the seller owns relating to the property.
Description of Property
Part of the Northwest Quarter of Section 22, Township 44 North – Range 4 East (Bonus Township), Boone County, Illinois.
Photographs, as well as video and voice recording, are prohibited at the auction without prior written consent from the auctioneer.
The subject farm is located approximately 47 miles northwest of Chicago O'Hare International Airport. Nearby cities include: Belvidere (3 miles west), Poplar Grove (3 1/2 miles northwest), Marengo (7 1/4 miles southeast), and Rockford (9 miles west).
There is approximately 3/16 mile of road frontage Denny Road.
U.S. Route 20 is 1 7/8 miles south, U.S. Business Route 20 is 3 miles west, Interstate 90 is 3 3/8 miles southwest, and Illinois Route 76 is 4 1/2 miles west of the property.
A brief legal description indicates The Freise Farm is located in Part of the Northwest Quarter of Section 22, Township 44 North – Range 4 East (Bonus Township), Boone County, Illinois.
There are a total of 69.50 acres, more or less, according to the Boone County Assessor’s Office.
There are approximately 68.75 tillable acres, estimated.
Major soil types found on this farm include Geryune silt loam and Elburn silt loam.
The topography of the subject farm is level to nearly level.
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.
All mineral rights owned by the seller 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 2017 real estate taxes totaled $2,935.66. The tax parcel number is #06-22-100-002.
There are a number of grain markets located within 10 miles of The Freise Farm.
The Freise Farm is zoned A-1, Ag. Preservation.