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ONLINE AUCTION - The auction platform is open for bidding. Bidding Ends: Thursday, December 8, 2022, beginning at 1 p.m. CT
Auction Date
Dec 08, 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 January 18, 2023. 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 2022 real estate taxes due and payable in 2023 shall be paid by the seller. The 2023 real estate taxes and all subsequent year taxes shall be paid by the buyer.
Crops And Expenses
The seller will retain the 2022 crop year cash rent.
conveyance
At closing, seller shall convey and transfer the property to buyer by special 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 December 13, 2013. 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 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. 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 Thursday, December 8, 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 65 miles west of Chicago O’Hare International Airport and is adjacent to the Village of Stillman Valley. Nearby cities include: Byron (3 miles west), Rockford (5 miles north), and Rochelle (11 miles south).
frontage
There is approximately 3/16 mile of road frontage on Stillman Road and 1/4 mile on Hales Corner Road.
major highways
Illinois Route 72 is 1/4 mile south, Illinois Route 2 is 3 3/4 miles west, Illinois Route 251 is 4 5/8 miles east, and Interstate 39/U.S. Route 51 is 7 1/2 miles east of the property.
legal description
A brief legal description indicates The Stillman Valley Farm is located in Part of Section 18, Township 42 North - Range 1 East (Scott Township), Part of Section 36, Township 25 North - Range 11 East (Marion Township), and Part of Section 1, Township 24 North - Range 11 East (Marion Township), all in Ogle County, Illinois.
total acres
There are a total of 118.970 acres according to a survey.
tillable acres
There are approximately 114.15 tillable acres, according to the Ogle County FSA.
soil types
Major soil types on this farm include Jasper loam, Vana silt loam, and Odell silt loam.
topography
The topography of the subject farm 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 totaled $3,635.00. The tax parcel numbers are #05-36-300-006, #10-01-126-004 & #11-18-100-003.
grain markets
There are a number of grain markets located within 15 miles of The Stillman Valley Farm.
zoning
The property is zoned AG-1 Ag & R-2 Single Family Residential.
comments
The property is subject to an Option to Lease, Lease and Solar Easement, with U.S. Solar Development, LLC. A copy of the Option will be provided to interested buyers upon request.