The Perkins Farm

Price: Auction
County: Kane

Contact Details
Josh Waddell
Mobile: 815-751-0439
Phone: 815-756-3606
Email: Josh.Waddell@mgw.us.com

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Auction to be held at Elgin Community College, 815 East Plank Road, Burlington, IL 60109
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.

Auction Terms & Conditions

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 expensess
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.

Property Details

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

Soils Information

Soil # Soil Name Acres +/- Productivity Index* Weighted Average Corn Yield Index* Gross Bushels
152ADrummer silty clay loam37.601441957,332
662BBarony silt loam21.791241703,704
680ACampton silt loam19.471191643,193
3076AOtter silt loam10.581391861,968
198AElburn silt loam10.241431972,017
125ASelma loam9.361291761,647
680BCampton silt loam6.651181621,077
325BDresden silt loam3.85115156601
663AClare silt loam1.89134182344
149ABrenton silt loam1.59141195310
219AMillbrook silt loam1.36129177241
696BZurich silt loam0.83118161134
325C2Dresden silt loam0.1911015029
Total Acres : 135.11 acres, more or less
Tillable Acres : 125.40 acres, or 92.81% estimated
Productivity Index : 132.18
Weighted Average Corn Yield Index : 180.20 bushels per acre, based on tillable acres
Comparable Yield Index : 167.25 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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