The Tallman Farm

Auction Date

Nov 14, 2018 - 1:00 PM

Inspection Date

Oct 24, 2018
Nov 03, 2018

Inspection Location

Inspections will be held October 24th from 4 p.m. to 5 p.m. and November 3rd from 11 a.m. to noon at Tract 6 - 2597 W State Route 102, Bourbonnais, IL 60914.

Directions to Auction

The American Legion is located in downtown Bradley, 0.2 miles east of U.S. Route 45/52, on W. Broadway Street.

Directions to Farm

From the intersection of U.S. Route 45/52 and Illinois Route 102 in Bourbonnais, travel northwest on Illinois Route 102 for 2.6 miles to arrive at the farm.

owner

Tallman Farms

agency

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

earnest money escrow

The successful bidders as determined by the auctioneer are 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.

closing

Closing shall be on or before January 9, 2019. 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 2018 real estate taxes due and payable in 2019 shall be paid by the seller. The 2019 real estate taxes and all subsequent year taxes shall be the responsibility of the buyer.

Crops And Expenses

The 2018 crop year cash rent shall be retained by the seller. The property is free of leases after the 2018 crop year.

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 secure a boundary survey by a licensed land surveyor at the seller’s expense, dated no more than six (6) months prior to closing. The final purchase price for tracts 1, 2, 3, 4 and 5 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.

Photography

Photographs, as well as video and voice recording, are prohibited at the auction without prior written consent from the auctioneer.

Mineral Rights

The buyer will receive and the seller will convey all mineral rights that the seller owns relating to the property.

Method

The farmland will be offered using the “high bidder’s choice” method on tracts 1, 2, 3, 4 and 5. Bidding on these tracts will be on a per acre basis, multiplied by the number of acres as determined by a survey. The building site on 14 acres, more or less, will be bid separately on a total dollar basis. All successful bidders 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.

Description of Property

Part of Section 11 and Part of Section 14, all in Township 31 North – Range 11 East (Bourbonnais Township), Kankakee County, Illinois, consisting of 426 acres, more or less, including a home and outbuildings.

location

The subject farm is located approximately 54 miles south of Chicago O'Hare International Airport. Nearby cities include: Bourbonnais (1 1/4 miles east), Kankakee (1 7/8 miles southeast), and Wilmington (12 1/4 miles northwest).

frontage

There is approximately 1/2 mile of road frontage on Illinois Route 102, 1/2 mile on N 3000W Road, 3/8 mile on N 2250 W Road and 5/16 mile on W 3100 N Road.

major highways

Illinois Route 102 intersects the property, Illinois Route 113 is 5/8 mile south, U.S. Route 45/52 is 2 1/4 miles east, and Interstate 57 is 2 3/4 miles east of the property.

legal description

A brief legal description indicates The Tallman Farm is located in Part of Section 11 and Part of Section 14, all in Township 31 North – Range 11 East (Bourbonnais Township), Kankakee County, Illinois.

total acres

There are a total of 425.93 acres, more or less, according to the Kankakee County Assessor’s Office.

tillable acres

There are approximately 415.62 tillable acres, estimated. A breakdown of soils by tract is available in the brochure.

soil types

Major soils types on this farm include Elliott silt loam and Varna silt loam.

FSA Data

Detailed FSA information is available in the brochure.

topography

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

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 2017 real estate taxes totaled $10,798.94. A breakdown per Parcel # is available in the brochure. The tax parcel numbers are: #17-08-11-100-007, #17-08-11-100-008, #17-08-11-300-002, #17-08-11-300-008, #17-08-14-100-003, #17-08-14-200-001, #17-08-14-300-003, #17-08-14-300-009, #17-08-14-300-010, #17-08-14-300-017.

grain markets

There are a number of grain markets located within 10 miles of The Tallman Farm.

zoning

The Tallman Farm is currently zoned A1-Agriculture and R1-Single Family Residential. A zoning map is available in the brochure.

improvements

A list of improvements located at 2597 W. State Route 102, Bourbonnais, IL 60914 (Tract 6) can be found in the brochure.