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ONLINE AUCTION - The auction platform is open for bidding. Bidding Ends Tuesday, June 21, 2022, beginning at 1 p.m. Central Time.
Auction Date
Jun 21, 2022 - 1:00 PM
Inspection Location
Please call to schedule an inspection.
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 July 21, 2022. 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 shall be prorated between buyer and seller through the date of closing. All subsequent year taxes shall be the responsibility of the buyer.
Crops And Expenses
The lease income for the 2022 crop year shall be prorated on a calendar year basis through the date of closing.
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.
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 Tuesday, June 21, 2022. 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 45 miles southwest of Chicago O'Hare International Airport. Nearby cities include: DeKalb (3 1/4 miles north), Waterman (3 5/8 miles south), and Hinckley (6 1/2 miles southeast).
frontage
Tract 1 has approximately 1/4 mile of road frontage on Minnegan Road and Tract 2 has 1/4 mile on Minnegan Road and 1/4 mile on Illinois Route 23.
major highways
Illinois Route 23 is the east border of Tract 2 and is 1/2 mile east of Tract 1, U.S. Route 30 is 4 1/4 miles south, and Interstate 88 is 4 1/2 miles north of the property.
legal description
A brief legal description indicates The Rohrer Farm is located in Part of the Southwest Quarter of Section 22 and Part of the Northeast Quarter of Section 27, Township 39 North - Range 4 East (Afton Township), DeKalb County, Illinois.
total acres
According to the DeKalb County Assessor, Tract 1 is approximately 40 acres and Tract 2 is approximately 38.11 acres.
tillable acres
According the the DeKalb County FSA, Tract 1 has approximately 39.13 tillable acres and Tract 2 has 36.97 tillable acres.
soil types
Major soil types found on this farm include Drummer silty clay loam and Danabrook silt loam.
topography
The topography of Tract 1 is level to gently rolling and Tract 2 is level to nearly level.
financing
Mortgage financing is available from several sources. Names and addresses will be provided upon request.
taxes
The 2021 real estate taxes for Tract 1 totaled $2,621.46 (PIN# 11-22-300-0004) and Tract 2 totaled $2,235.38 (PIN# 11-27-200-005).
grain markets
There are a number of grain markets located within 10 miles of The Rohrer Farm.
zoning
The property is zoned A-1, Agricultural District.