The Lee Center 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 October 28, 2021, beginning at 1 p.m. Central Time.
Auction Date
Oct 28, 2021 - 1:00 PM
Inspection Location
Please call to schedule an inspection.
Directions to Farm
From U.S. Route 52 north of Amboy, go east on U.S. Route 30 for 1.3 miles. Then take a slight right onto Inlet Road and continue 4.7 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 November 30, 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 expensess
The seller will retain the 2021 crop year income. The farm is free of leases for the 2022 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. The surveys for tract 1 and tract 2 are dated April 23rd, 2015. 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. The seller of tract 1 is a licensed Illinois real estate broker.
Description of Property
Part of the Southeast Quarter of Section 17 and Part of the Southwest Quarter of Section 16, Township 20 North – Range 11 East (Lee Center 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 Thursday, October 28th, 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.

Property Details

location
The subject property is located approximately 70 miles southwest of Chicago O'Hare International Airport. Nearby cities include: Amboy (3 miles west), Dixon (12 miles northwest), and Rochelle (13 1/2 miles northeast).
frontage
There is approximately 5/16 mile of road frontage on Inlet Road.
major highways
U.S. Route 30 is 2 1/2 miles north, U.S. Route 52 is 2 3/4 miles southwest, and Interstate 39/U.S. Route 51 is 10 miles east of the property.
legal description
A brief legal description indicates The Lee Center Farm is located in part of the Southeast Quarter of Section 17 and Part of the Southwest Quarter of Section 16, Township 20 North - Range 11 East (Lee Center Township), Lee County, Illinois.
total acres
There are a total of 200 acres on Tract 1 and 36.86 acres on Tract 2 according to surveys dated April 23, 2015.
tillable acres
There are 123.55 cropland acres on Tract 1 according to the Lee County FSA, of which 101.7 acres are leased for the 2021 crop year. There are 36.76 tillable acres on Tract 2 according to the Lee County FSA.
soil types
Major soil types found on this farm include Dickinson sandy loam and Hoopeston sandy 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 November 30, 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 $2,081.98 for Tract 1 and the tax parcel numbers are #11-16-16-300-005 & #11-16-17-400-001. The 2020 real estate taxes totaled for Tract 2 totaled $588.74 and the tax parcel number is #11-16-16-300-006.
grain markets
There are a number of grain markets located within 15 miles of The Lee Center Farm.
zoning
The Lee Center Farm is zoned AG– 1, Agricultural District.
comments
Outstanding recreational property with income.  Excellent deer, turkey and upland game hunting.  Located 1.5 miles west of the 1,976 acre Richardson Wildlife Foundation.

Soils Information

Soil # Soil Name Acres +/- Productivity Index* Weighted Average Corn Yield Index* Gross Bushels
87ADickinson sandy loam45.991041426,531
172AHoopeston sandy loam32.311091474,750
689BColoma sand22.42751012,264
102ALa Hogue loam7.561211621,225
204B2Ayr sandy loam6.64104140930
200AOrio loam5.96110147876
87BDickinson sandy loam5.35103141754
88B2Sparta loamy sand3.7787113426
440AJasper loam3.58130175627
742B2Dickinson sandy loam2.33103140326
1200AOrio mucky sandy loam1.97110147290
1776AComfrey silt loam0.3913818572
201AGilford fine sandy loam0.1111014816
8302AAmbraw loam0.0811415412
Total Acres : 236.86 acres, more or less
Tillable Acres : 138.46 acres, or 58.46% per FSA figures
Productivity Index : 102.00
Weighted Average Corn Yield Index : 137.93 bushels per acre, based on tillable acres
Comparable Yield Index : 80.63 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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