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ONLINE AUCTION - The auction platform is open for bidding. Bidding Ends: Wednesday, February 23, 2022 beginning at 10 a.m. Central Time.
Auction Date
Feb 23, 2022 - 10:00 AM
Inspection Location
Please call to schedule an inspection.
Directions to Auction
ONLINE AUCTION: The auction platform is open for bidding. Please visit mgw.us.com/waterman to bid. The auction closes February 23, 2022, beginning at 10 a.m. CT.
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 March 25, 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 and all subsequent year taxes shall be paid by the buyer.
Crops And Expenses
The farmland is leased for the 2022 crop year, and the buyer will receive 100% of the lease income. Lease details are available upon request.
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. 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 bidder 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 10:00 a.m. Central Time on Wednesday, February 23rd, 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 44 miles southwest of Chicago O'Hare International Airport. Nearby cities include: Waterman (1/4 mile west), Hinckley (4 miles east), and DeKalb (7 1/2 miles north).
frontage
There is approximately 1/4 mile of road frontage on U.S. Route 30, 1/4 mile on Duffy Road, and 1/2 mile on Crego Road.
major highways
U.S. Route 30 is the south border of the property, Illinois Route 23 is 1/4 mile west, and Interstate 88 is 8 1/2 miles north of the property.
legal description
A brief legal description indicates The Waterman Farm is located in Part of the Northeast Quarter of Section 14, Township 38 North - Range 4 East (Clinton Township), DeKalb County, Illinois.
total acres
There are a total of 79.10 acres according to a survey.
tillable acres
There are approximately 68.31 tillable acres according to the DeKalb County FSA.
soil types
Major soil types on this farm include: Catlin silt loam, Danabrook silt loam, and Drummer silty clay 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 2020 real estate taxes totaled $3,617.22. The tax parcel numbers are #14-14-200-006 & #14-14-200-009.
grain markets
There are a number of grain markets located within 10 miles of The Waterman Farm.
zoning
The property is zoned A-1, Agricultural.