The Steele Farm

Price: Auction
County: Bureau

Contact Details
Mark T. Mommsen
Mobile: 815-901-4269
Phone: 815-756-3606

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Click Here to Bid
ONLINE AUCTION - The auction platform is open for bidding. Bidding Ends Tuesday, April 19th, beginning at 1 p.m. Central Time.
Auction Date
Apr 19, 2022 - 1:00 PM
Inspection Location
Please call to schedule an inspection.
Directions to Auction
ONLINE AUCTION: The auction platform is open for bidding. Please visit to bid. The auction closes Tuesday, April 19, 2022, beginning at 1 p.m. CT.

Auction Terms & Conditions

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 shall be on or before May 17, 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 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.
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.
Seller shall provide a boundary survey by a licensed land surveyor at the seller’s expense, dated no more than 6 (six) months prior to closing. Final purchase price will be based upon gross surveyed acres.
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.
Some photos in this brochure may be stock photography and are for illustrative purposes only.
The property will be offered in one tract 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, April 19, 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

The subject farm is located 89 miles southwest of Chicago O’Hare International Airport. Nearby cities include: Princeton (adjacent to the northwest), Peru (14 miles east), and Sheffield (15 miles west).
There is approximately 5/16 mile of road frontage on Illinois Route 26, 3/16 mile on 2155 E Street, and 3/16 mile on Taylor-Thomas Drive.
major highways
Illinois Route 26 is the easterly border of the property, U.S. Route 6 is 1 1/2 miles north, Interstate 180 is 3 miles east, and Interstate 80 is 3 1/4 miles north of the property.
legal description
A brief legal description indicates The Steele Farm is located in Part of the North Half of Section 27, Township 16 North – Range 9 East (Princeton Township), Bureau County, Illinois.
total acres
There are a total of 166.34 acres according to a recent survey.
tillable acres
There are approximately 159 tillable acres, estimated. There are an additional 1.60 acres currently enrolled in CRP with an annual contract payment of $368 through 9/30/2030.
soil types
Major soil types on this farm include Muscatune silt loam and Osco silt loam.
The topography of the subject farm is level to gently rolling.
Mortgage financing is available from several sources. Names and addresses will be provided upon request.
The 2020 real estate taxes totaled $6,455.64. The tax parcel number is #16-27-100-006.
grain markets
There are a number of grain markets located within 15 miles of The Steele Farm.
The property is zoned Agricultural.

Soils Information

Soil # Soil Name Acres +/- Productivity Index* Weighted Average Corn Yield Index* Gross Bushels
51AMuscatune silt loam40.851472008,170
8107A+Sawmill silt loam19.221391893,633
86BOsco silt loam17.001401893,213
86C2Osco silt loam16.481311782,933
171C2Catlin silt loam13.071281742,274
68ASable silty clay loam9.511431921,826
705ABuckhart silt loam3.56142190676
60D2La Rose silt loam2.29105142325
675C2Greenbush silt loam0.76125171130
Total Acres : 166.34 acres, more or less
Tillable Acres : 159.00 acres, or 95.59% per FSA figures
Productivity Index : 138.04
Weighted Average Corn Yield Index : 187.07 bushels per acre, based on tillable acres
Comparable Yield Index : 178.81 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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