The Harmon Farm

Price: Auction
County: Lee

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

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ONLINE AUCTION - The auction platform is open for bidding. The auction closes November 17, 2020, beginning at 1 p.m. Central Time.
Auction Date
Nov 17, 2020 - 1:00 PM
Inspection Location
Please call to schedule an inspection.
Directions to Farm
From U.S. Route 52 in Amboy, go west on Main Street 0.9 miles to Amboy Road. Continue on Amboy Road 8.2 miles 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 17, 2020. 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 2020 real estate taxes due and payable in 2021 shall be paid by the seller. The 2021 real estate taxes and all subsequent year taxes shall be paid by the buyer.

crops and expensess
The farm is free of leases for the 2021 crop year.
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 within six months of 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 Southwest Quarter and the West Half of the Northeast Quarter of Section 19, Township 20 North – Range 9 East (Marion Township), Lee County, Illinois.
Method
The property will be offered in two tracts 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 Tuesday, November 17th, 2020. 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, and contact the auctioneer should you need assistance with online bidding. 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 84 miles west of Chicago O'Hare International Airport. Nearby cities include: Amboy (5 miles east), Dixon (6 miles north), and Sterling (10 miles northwest).
frontage
There is approximately 1/2 mile of road frontage on Hoyle Road and 3/4 mile on Amboy Road.
legal description
A brief legal description indicates The Harmon Farm is located in Part of the Southwest Quarter and the West Half of the Northeast Quarter of Section 19, Township 20 North – Range 9 East (Marion Township), Lee County, Illinois.
total acres
There are approximately 237.52 acres, according to the Lee County Assessor's Office.
tillable acres
There are approximately 229.90 tillable acres, according to the Lee County FSA.
soil types
Major soils types found on this farm include Clyde clay loam and Nachusa silt loam.
topography
The topography of the subject farm is level to nearly level.
location climate growing season
Lee County has a continental climate typical of northern Illinois. The average length of the growing season is nearly 173 days. On average we expect about 2,750 growing degree days from April 23 through October 15. Annual precipitation averages about 35" with over two thirds of this coming during the growing season. Snowfall averages about 35" per year. Prevailing winds are from the west-northwest.
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 17, 2020. 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 2019 real estate taxes for Tract 1 totaled $2,196.58 and the tax parcel number is #12-14-19-200-001. The 2019 real estate taxes for Tract 2 totaled $5,713.46 and the tax parcel number is #12-14-19-300-001.
comments
The Harmon Farm offers two high-percentage tillable farmland tracts with productive soils and extensive drainage tile improvements. Tract 2 includes an open front shed and driveway on approximately 1.72 acres.

Soils Information

Soil # Soil Name Acres +/- Productivity Index* Weighted Average Corn Yield Index* Gross Bushels
648AClyde clay loam94.6713918617,609
649ANachusa silt loam71.0113718312,995
200AOrio loam25.871101473,803
355ABinghampton sandy loam13.941051421,979
357BVanpetten loam11.591061451,681
87BDickinson sandy loam6.78103141956
650BPrairieville silt loam3.46130174602
689BColoma sand2.5875101261
Total Acres : 237.52 acres, more or less
Tillable Acres : 229.90 acres, or 96.79% per FSA figures
Productivity Index : 129.48
Weighted Average Corn Yield Index : 173.49 bushels per acre, based on tillable acres
Comparable Yield Index : 167.92 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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