The Perkins Farm

Auction Date

Jun 06, 2018 - 1:00 PM

Inspection Location

Please call to schedule an inspection.

Directions to Auction

Elgin Community College is located on Plank Road, 3.4 miles west of Route 47.

Directions to Farm

The farm is located on Plank Road, 3.3 miles west of Route 47.

owner

Perkins Farm, LLC

agency

Martin, Goodrich & Waddell, Inc. and its representatives are agents of the owner.

closing

Closing shall be on or before July 9, 2018. 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 2017 real estate taxes due and payable in 2018 shall be paid by the seller. The 2018 real estate taxes due and payable in 2019 shall be shared equally between the seller and buyer. All subsequent year taxes shall be the responsibility of the buyer.

Crops And Expenses

The buyer shall receive a 2018 crop year cash rental credit in the amount of $12,500.

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 will provide a boundary survey by a licensed land surveyor at the seller’s expense, which was last revised on March 28, 2018. 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.

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.

Method

The farm 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.

location

The subject farm is located approximately 32 miles west of Chicago O'Hare International Airport and within the village of Burlington. Nearby towns include: Hampshire (1 1/8 miles north), Pingree Grove (3 5/8 miles northeast), and Sycamore (5 1/8 miles southwest).

frontage

There is approximately 3/8 mile of road frontage on Plank Road.

major highways

Illinois Route 72 is 1 3/4 miles north, Illinois Route 47 is 3 1/4 miles east, and U.S. Route 20 is 4 miles northeast of the property.

legal description

A brief legal description indicates The Perkins Farm is located in Part of the East Half of Section 3, Township 41 North - Range 6 East (Burlington Township), Kane County, Illinois.

total acres

There are a total of 135.1087 acres, according to a recent survey.

tillable acres

There are approximately 125.4 tillable acres, estimated.

soil types

Major soil types found on this farm include Drummer silty clay loam and Barony silt loam.

topography

The topography of the subject farm is level to nearly level.

location climate growing season

Kane County has a continental climate typical of northern Illinois. The average length of the growing season is nearly 142 days. On average we expect about 2,854 growing degree days from April 15 through September 30. Annual precipitation averages about 34 inches with over two-thirds of this coming during the growing season. Snowfall averages about 32 inches per year. Prevailing winds are from the west. This climate, combined with the generally excellent soils in this area, provides a nearly ideal environment for the production of corn and soybeans.

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 tax parcel numbers are #04-03-400-007 and #04-03-400-008. The tax amount is to be determined pending finalization of a parcel split.

grain markets

There are a number of grain markets located within 15 miles of The Perkins Farm.

zoning

The Perkins Farm is zoned A-1, Agricultural.

comments

Great investment opportunity.
- Productive farmland
- 92.8% tillable
- Plank Road frontage
- In close proximity to major highways