Home / Auction Info

SOLD

LAND AUCTION - 271+/- ACRES OFFERED IN 4 TRACTS IN BUREAU COUNTY, IL

Bureau County, Illinois

Owner: Premiere Partners II Limited Partnership Tue, Feb 16, 2016

SOLD FOR $2,695,000

• 271+/- Acres offered in 4 Tracts • Productive Farmland • Large Contiguous Field • All Tillable except for Roads • Frontage on US 34 and 2 County Roads • 7+/- Miles NE of Princeton on US Hwy 34 • 60+/- Miles North of Peoria


OPEN HOUSE/INSPECTION DATES

Monday, January 25 from 11:30 am - 1 pm
Meet a Schrader Representative at Wise Guys Restaurant for Auction Information.

PROPERTY LOCATION

From exit 56 off of I-80 (intersection of I-80 and US Hwy 34/Hwy 26) take US Hwy 34 thru Princeton back under I-80 in a Northeasterly direction for 9.6 miles to the property on the right side (intersection of US Hwy 34 and Co Rd 2200 N).

AUCTION LOCATION

Wise Guys Restaurant - 2205 North Main Street in Princeton, Illinois. Located at the Southeast Corner of Exit 56 off of I-80

TRACT DESCRIPTIONS

Tract 1: 35.9± ac of all tillable land except for road frontage. The two predominate soil types are Sable silt loam and Osco silt loam with a crop productivity index of 138.4 and an Illinois State Productivity index of 186.8 bushels of corn per acre. This tract has frontage on US 34 and Co Rd 2750 E Street. Excellent productivity. Be prepared to bid your price.

Tract 2: 79.6± ac of all tillable land except for road frontage. The three predominate soil types are Osco silt loam, Muscatune silt loam and Sable silt loam. Combine tracts 1 & 2 for 116+/- acres of productive farm land with frontage on Co Rd 2200 N and Co Rd 2750 E Street. Create your own combination that best fits your farming operation.

Tract 3: 78± ac of all tillable land except for road frontage. The two predominate soils types are Sable silt loam and Osco silt loam with a crop productivity index of 138.4 and an Illinois State Productivity Index of 186.5 bushels of corn per acre. Easy access from Co Rd 2200 N and Hwy 34.

Tract 4: 77.7± ac of all tillable land except for road frontage. This tract features Catlin silt loam, Sable silt loam, and Muscatune silt loam as the three predominate soil types. This tract has lots of road frontage on Hwy 34 and easy access from Co Rd 2200 N. Combine tracts 3 & 4 for 155+/- acres of productive Illinois farm land. Be prepared to bid your price - do not miss this opportunity.


INTERACTIVE MAP

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 4 individual tracts, any combination of tracts, and as a total 271+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations, and the total property may compete.

DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES: All final bid prices are subject to the Sellers acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.

DEED: Seller shall provide a Special Warranty Deed, sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.

EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Sellers expense, an updated title commitment prior to closing. The cost of providing an Owners Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing, which will take place on or before 3/18/16. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession of the farmland shall be at closing.

REAL ESTATE TAXES: Seller shall pay all 2015 real estate taxes due and payable in 2016. Buyer shall assume any taxes thereafter. If the 2015 real estate taxes payable in 2016 have not been determined by time of closing the buyer will be given a credit at closing based on the last tax statement received on the subject property.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on property tax information and/or aerial mapping.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction or where Seller otherwise determines a survey is appropriate. Any need for a new survey shall be determined solely by the Seller. Seller will pay the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised acres and surveyed acres.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries, and due diligence concerning the property. An inspection date has been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

EASEMENTS: Subject to any and all existing easements.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

Stock Photography: Some photos are for illustrative purposes only and are not of the auction property.