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SOLD

LAND AUCTION - 123.2+/- ACRES IN 3 TRACTS IN WILL COUNTY, ILLINOIS

Will County, Illinois - West of Peotone, IL

Owner: R & E Flint Farms, LLC Tue, Feb 19, 2019

SOLD FOR $705,000

• 123.2+/- Acres in 3 Tracts • Productive Farmland • Nearly All Tillable - No Buildings • Excellent Location - Approx. 1.25 Miles West of I-57 & Wilmington Rd. (Wilmington - Peotone Rd.) Interchange (Exit 327) • Investigate Home Site or Future Development Potential • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.


OPEN HOUSE/INSPECTION DATES

Tuesday, January 29 & Wednesday, February 6 from 2-4 PM
Meet a Schrader Representative at the east side of Tract 1 off Center Rd.

PROPERTY LOCATION

From the south side of Peotone at the intersection of IL 50 and Wilmington Road/CR 25 (Wilmington-Peotone Road), go west on Wilmington Road/CR 25 for approximately 2.75 miles to the property on the south side of the road.

AUCTION LOCATION

Manteno Golf Club, 7202 N 4000E Road, Manteno, IL 60950
From Manteno at the intersection of IL 50 (Locust Street) and Third Street,
travel east on Third St. (turns into 9000 N Road/CR 9) for 1.6 miles to 4000E Road. Turn south (right) onto 4000E Road and go approximately 1.75 miles to the auction site on the west side of the road.

TRACT DESCRIPTIONS

Tract 1: 30± ac Productive soils and nearly all tillable. This tract has a waterway crossing through it.

Tract 2: 40.4± ac Nearly all tillable with productive soils.

Tract 3: 52.8± ac Nearly all tillable with productive soils.


All of the tracts have frontage on Wilmington Road/CR 25 (Wilmington-Peotone Road). Any needed driveway entrances are the responsibility of the buyer.

REAL ESTATE TAXES: 2017 payable 2018: (2 PINs) $2,229.22*
*Includes $2.48 Rock Creek Dr. Dist.

TRACT MAP(S)

SOIL INFORMATION

AREA MAP(S)

PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts and as a total 123.2+/- 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 Warranty Deed with corporation provisions as applicable, 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. The targeted closing date will be approximately 30 days after the auction. 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 is at closing.

REAL ESTATE TAXES: Seller shall pay all 2018 real estate taxes and drainage assessments due and payable in 2019. Buyer shall assume any taxes and drainage assessments thereafter.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on county tax parcel data, county GIS and/or aerial mapping.

SURVEY: The Seller shall provide a new survey and the type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Seller and Buyer(s) shall each pay half (50:50) of the cost of that survey. 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. Inspection dates have 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.

Auction Brochure

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