Tuesday, July 20, 2021 at 10:00 AM.
160 Acres – (2) 80-Acre Tracts – Lisbon Twp – Kendall Co.
Farm Location: 8 miles North of Morris to IL-47/US-52 intersection, then East 1½ miles to Ashley Rd, then South 1½ miles to Farm. Click for Google Map.
Auction Location: VFW Post #6049, 309 McKinley St, Morris, IL
Offered up for auction is a 160 Acre parcel located along Ashley Rd in the SE ¼ of Section 22 in Lisbon Township, Kendall County, IL.
The farm will be offered as TWO 80-acre tracts (North/South). The high bidder will have CHOICE of Tract 1, Tract 2 or both.
The property currently has one Tax ID: 08-22-400-001. 2020 Taxes (Payable in 2021) are $4,278.56 ($26.74/acre) with a Tax Rate = 7.711890. There will be a final survey available closer to auction date with exact acreage.
Farm Lease open for 2022. Buyer(s) will receive the 2nd half farm lease payment due in December 2021. Buyer(s) will pay 2nd half 2021 taxes due in 2022.
The FSA-156EZ (Farm 340 – Tract 1166) reports Cropland = 160.11 Ac and Effective DCP Cropland = 160.11 Ac.
Both Tracts are 100% Tillable with an overall Crop Productivity Index (CPI) = 124.8 and Bryce, Milford, Martinton, Swygert and Proctor soils.
Tract 1 is 100% Tillable with a CPI = 122.4 consisting mainly of Bryce, Swygert and Milford soils.
Tract 2 is 100% Tillable with a CPI = 127.2 consisting of mainly Milford, Bryce and Martinton soils.
Seller(s): Hansen Trust
Announcements: Information provided herein was obtained from sources deemed reliable, but neither Richard A. Olson & Associates, Inc nor the Seller makes any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, its condition, and to rely on their own conclusions. All maps, dimensions, and acreage figures are approximate or “more or less”. Any announcements made auction day by Richard A. Olson & Associates, Inc will take precedence over any previous printed materials or oral statements.
Agency: Richard A. Olson & Associates, Inc and its representatives are acting as Agents of the Seller.
Minerals: All mineral interests owned by the Seller, will be conveyed to the Buyer(s).
Farm Lease: The farm lease is open for 2022. The Buyer(s) will receive the 2nd half farm lease payable in December 2021.
Taxes: Real estate taxes for 2020 payable in 2021 will be paid by the Seller. The first half of 2021 taxes, due in 2022, will be paid by the Seller. The second half of 2021 taxes, due in 2022, will be paid by the Buyer(s). All future taxes will be the responsibility of the Buyer(s).
Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold on an “AS IS-WHERE IS” basis with no warranties or guarantees, either expressed or implied, by the Seller or Richard A. Olson & Associates, Inc.
Contract and Title: Immediately upon conclusion of the auction, the high bidder(s) will enter into a real estate contract and provide the required earnest payment. The Seller will provide an owner’s policy of title insurance in the amount of the contract price. The cost of title insurance will be paid by the Seller. The cost of any escrow closing services will be paid equally by Seller and Buyer(s). Sale is not contingent upon Buyer(s) financing.
Earnest Payment: The successful bidder(s) will be required to deposit $50,000 earnest money PER TRACT to be held by Seller’s Attorney in an escrow account and will be applied to the purchase price.
Closing: The sale closing (45 days) is on or before September 3, 2021, or such other date agreed to by the parties. The balance of the purchase price will be payable by wire transfer at the discretion of Chicago Title.
Optional Extended Closing: Up to 60-day closing extension is available for 5% APR prorated from the September 3, 2021 closing date.
Possession: Possession will be granted on September 3, 2021, or such other date agreed to by the parties. Subject to the current lease.
Sale Method: The real estate will be offered on a Per Acre basis. Final survey figure will be available by auction day. Bidding increments are solely at the discretion of the Auctioneer. No absentee or telephone bids will be accepted without prior approval of Richard A. Olson & Associates, Inc and Seller. All decisions of the Auctioneer are final.
Approval of Bids: Final sale is subject to the Seller’s approval or rejection.
Auction conducted by Richard A. Olson & Associates, Inc.
Dick Olson – IL License #440.000585
Erik Olson – IL License #441.001909
531 Bedford Rd, Morris, IL 60450