The Lee County Farms

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 March 9, 2021, beginning at 1 p.m. Central Time.
Auction Date
Mar 09, 2021 - 1:00 PM
Inspection Location
Please call to schedule an inspection.
Directions to Auction
Online Auction at mgw.us.com/leecounty. Close date: March 9, 2021 beginning at 1 p.m. CT
Directions to Farm
From Interstate 39, travel west on U.S. Route 30 1.3 miles to Steward Road, then head south for 1 mile to Stainbrook Road. Travel west 0.8 miles on Stainbrook Road to Bingham Road, then continue south 0.3 miles to arrive at Tract 1.

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 April 9th, 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 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. The wind turbine payments will be pro-rated through the date of closing. In 2019, the number of wind turbines was consolidated from seven to two. The 2020 wind turbine income was $10,885 per turbine, which includes a base payment and a variable component. Details of the wind lease are available upon request.
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 (6) 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 East Half of Section 25, Township 38 North - Range 1 East (Viola Township) and Part of the West Half of Section 30 and Part of the Northwest Quarter of Section 28, Township 38 North - Range 2 East (Willow Creek Township), Lee County, Illinois.
Method
The property will be offered in three 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, March 9th, 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 farm is located approximately 60 miles southwest of Chicago O’Hare International Airport. Nearby towns include: Paw Paw (3 5/8 miles southeast), Shabbona (6 3/8 miles east), Rochelle (10 miles north), and Amboy (13 miles west).
frontage
There is approximately 1/2 mile of road frontage on Fisk Road, 1/2 mile on Bingham Road, 1/4 mile on German Road and 1/4 mile on Interstate 39/U.S. Route 51.
legal description
A brief legal description indicates The Lee County Farms are located in Part of the East Half of Section 25, Township 38 North - Range 1 East (Viola Township) and Part of the West Half of Section 30 and Part of the Northwest Quarter of Section 28, Township 38 North - Range 2 East (Willow Creek Township), Lee County, Illinois.
total acres
There are a total of 318.95 acres, more or less, according to the Lee County Assessor.
tillable acres
There are approximately 311.09 tillable acres, estimated.
soil types
Major soil types found on these farms include: Wyanet silt loam, Elpaso silty clay loam, Catlin silt loam, and Saybrook silt loam.
topography
The topography of the subject farms is level to gently rolling.
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 April 9th, 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 2019 real estate taxes for the farmland (wind turbines excluded) totaled $11,609.32. The tax parcel numbers are #20-11-25-200-011, #20-11-25-200-012, #20-11-25-200-013, #21-12-28-100-002, #21-12-30-300-007, #21-12-30-300-008.
grain markets
There are a number of grain markets located within 10 miles of The Lee County Farms.

Soils Information

Soil # Soil Name Acres +/- Productivity Index* Weighted Average Corn Yield Index* Gross Bushels
622B2Wyanet silt loam101.9211415315,594
356AElpaso silty clay loam59.3014419511,564
171iBCatlin silt loam53.941371859,979
145B2Saybrook silt loam52.571251708,937
622C2Wyanet silt loam18.151121502,723
154AFlanagan silt loam7.361441941,428
679BBlackberry silt loam6.731411921,292
60B2La Rose silt loam6.07112151917
8451ALawson silt loam4.42140190840
8776AComfrey loam0.3713818568
369B2Waupecan silt loam0.2613218047
Total Acres : 318.95 acres, more or less
Tillable Acres : 311.09 acres, or 97.54% per FSA figures
Productivity Index : 127.12
Weighted Average Corn Yield Index : 171.61 bushels per acre, based on tillable acres
Comparable Yield Index : 167.38 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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