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MAJOR LAND AUCTION - 313+/- ACRES OFFERED IN 7 TRACTS IN IROQUOIS COUNTY, ILLINOIS

Iroquois County, Illinois

Owner: Bridgeman Family Farm, Inc. and The Bridgeman Trust Tue, Jun 11, 2019

SOLD FOR $2,023,950

• 313+/- Acres offered in 7 Tracts • 273 Acres Productive Tillable Land • 40 Acres Wooded Recreational Land • Northeast of Watseka, IL • West of Morocco, IN • Buyer to receive $150 credit per tillable acre at closing! • 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.


Information Booklet


OPEN HOUSE/INSPECTION DATES


Thursday, May 23 from 4-6pm
Monday, June 3 from 4-6pm

Meet a Schrader Representative at Tract 4

PROPERTY LOCATION

TRACT #1: From the intersection of US 24 & US 52 (Approx. 8 miles east of Watseka, IL or 2 miles west of the Indiana line) take US 52 northwest 8 miles to CR 2600 N (US 52 turns due west) and take CR 2600 N east 3 miles to CR 3000 E then south 1/4 mile to the property.
TRACT #2 & #3: From Tract #1 take CR 3000 E north 3 miles to CR 2900 N then west 1/4 mile to the property.
TRACT #4: From Tracts #2 & #3 take CR 2900 N east to CR 3000 E and go north 1/4 mile to the property located on the corner of CR 3000 E and CR 2950 N.
TRACTS #5, #6 & #7: From Tract #4 (the intersection of CR 3000 E and CR 2950 N) take CR 2950 N east 1 mile to CR 3100 E then north 3/4 mile to the property.

AUCTION LOCATION

St. Marys Hall, 306 St. Charles, Beaverville, IL 60912
4 miles north of US 52 on CR 2500 E.

TRACT DESCRIPTIONS

Tract 1: 40± ac of tillable land with frontage on CR 3000 E. Productive soils include Selma, Odell, Corwin and Milford.

Tract 2: 78± ac of tillable land with frontage on CR 2900 N. Quality soils include Selma, Sparta, Watseka and Barrington.

Tract 3: 59± ac of tillable land with frontage on CR 2900 N. Quality soils include Selma, Sparta, Watseka and La Hogue. Combine with Tract #2 for 137+/- productive acres.

Tract 4: 40± ac of tillable land with frontage on CR 3000 E and CR 2950 N. Productive soils include Selma, Onarga, Sparta and Andres.

Tract 5: 41± ac with frontage on CR 3100 E. Approx. 30+/- acres of tillable land and 7+/- acres of wooded recreational land. Soils including Granby, Morocco and Oakville.

Tract 6: 26± ac with frontage on CR 3100 E. Approx. 24+/- acres of tillable soils include Granby, Morocco and Oakville.

Tract 7: 30± ac of wooded recreational ground. If this tract sells separately, a 25 ft. easement will be created for access adjacent to the ditch on the west and north edges of Tract #6. If this tract is purchased by an adjoining landowner or in combination with Tract #6, no easement will be created.

TRACT MAP(S)

TRACT 1

TRACTS 2-4

TRACTS 5-7

SOIL INFORMATION


TRACT 1


TRACTS 2-4


TRACTS 5-7

AREA MAP(S)

PROCEDURE: The property will be offered in 7 individual tracts, any combination of tracts 2-7 or a 273+/- acre unit. Tract #1 will be sold as an individual tract as it is owned by a different family entity. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. The auction will be offered in individual tracts and combinations of tracts.

BUYERS PREMIUM: A 3% Buyers Premium will be added to the final bid price and included in the contract purchase price.

2019 CASH RENT CREDIT: Buyer to receive $150 credit per tillable acre at closing.

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 successful bidders will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide Warranty or Applicable Deed(s).

CLOSING: The targeted closing date will be approximately 30 days after the auction.

POSSESSION: Possession is subject to the harvest of the 2019 crop.

REAL ESTATE TAXES: Real estate taxes will be pro-rated to the date of closing.

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.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

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. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

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.