→ View / Bid Here ←
Virtual Live Online Auction at mgw.us.com/herrmann
Auction Date
Mar 19, 2026 - 1:00 PM
Inspection Location
Please call to schedule an inspection.
Directions to Auction
Virtual Live Online Auction at mgw.us.com/herrmann
Auction Terms & Conditions
agency
Martin, Goodrich & Waddell, Inc. (MGW) and its representatives are agents of the Seller.
earnest money escrow
The successful bidder as determined by the Auctioneer is required to make a 10% down payment of the accepted bid price within 24 hours of the auction closing, with the balance due at closing. The earnest money payment may be submitted by cashier’s check or wire transfer.
closing
The closing date shall be on or before April 16, 2026. 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 2025 real estate taxes due and payable in 2026 shall be paid by the Seller. The 2026 real estate taxes and all subsequent year taxes shall be paid by the Buyer.
Crops And Expenses
The farm is free of leases for the 2026 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 no more than six (6) months prior to 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. Advertised information is subject to the terms and conditions of the purchase agreement between the Seller and Buyer. All provided maps, data, acreages, and images 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.
Bidding Information
All bidders must register and be approved before the auction starts. The Auctioneer will call bids from the offices of MGW, and you will be able to view and listen to the auction on-screen as the sale proceeds. To register, go to mgw.us.com/herrmann, click on the “View/Bid Here” button, and follow the prompts to register. Bidders will receive additional information via email within 48 hours prior to the auction. The auction is online only and there will not be advance bidding. Bidding is not conditional upon financing.
Method
The property will be offered in a one-tract virtual live online auction at 1 p.m. Central Time on March 19, 2026. 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. The successful bidder 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 bidder via email. A signed copy of the purchase agreement must be received by MGW within 24 hours of the auction closing.
Mineral Rights
The Buyer will receive and the Seller will convey all mineral rights that the Seller owns relating to the property.
Attorney for Seller
Brown Law Group, DeKalb, Illinois.
Property Details
location
The subject farm is located approximately 58 miles southwest of Chicago O'Hare International Airport. Nearby cities include: Shabbona (5 3/8 miles east), Rochelle (7 miles north), and Mendota (12 3/8 miles south).
frontage
There is approximately 1/2 mile of road frontage on German Road, 3/8 miles on U.S. Route 30 and 1/4 mile on Interstate 39/U.S. Route 51.
major highways
U.S. Route 30 borders the property on the north, Interstate 39/U.S. Route 51 borders the property on the east, and Illinois Route 251 is 3 1/4 miles west of the property.
legal description
A brief legal description indicates The Paul V. Herrmann Estate Farm is located in Part of the Northwest Quarter of Section 21, Township 38 North – Range 2 East (Willow Creek Township), Lee County, Illinois.
total acres
There are a total of 149.95 acres according to a recent survey.
tillable acres
There are approximately 143.64 cropland acres according to the Lee County FSA, of which approximately 141.64 acres, estimated, are currently in row crop production.
soil types
Major soil types found on this farm include Catlin silt loam and Blackberry silt loam. The weighted average Productivity Index (PI) is 129.4.
topography
The topography of the subject farm is level to rolling.
mineral rights
All mineral rights owned by the seller will be transferred in their entirety to the new owner.
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 2024 real estate taxes totaled $6,370. The tax parcel number is #21-12-21-100-001.
grain markets
There are a number of grain markets located within 15 miles of The Paul V. Herrmann Estate Farm.
zoning
The property is zoned AG-1, Rural/Agricultural District.