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IMPORTANT FARMLAND & WIND INCOME AUCTION - 874+/- ACRES OFFERED IN 16 TRACTS WITH 6 FARMS IN VERMILION COUNTY, ILLINOIS

Vermilion County, Illinois

Owner: GRD Limited Partnership and TIPRAD Broadcasting Company
1PM (CST) - 2PM (EST)
Thu, Mar 19, 2020

SOLD FOR $6,140,400

1PM (CST) - 2PM (EST) • 874+/- Acres offered in 16 Tracts and 6 Farms • 2020 Farming Rights w/Immediate Possession • Excellent Productive Farmland • Wind Income on 4 Turbines • Investment Potential • Tiled on 40 ft. Centers • Near Rossville, IL • 20+/- Miles East of Champaign, IL • 35+/- Miles West of Lafayette, IN • Bid on a single tract, combination of tracts, or the whole property in the Schrader Method of Auction! • 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.

**UPDATE** Tracts 15 and 16 have been withdrawn. Tracts 1 and 2 shall include the rights to all payments under the applicable Wind Energy Easement Agreements.


INFO BOOK


OPEN HOUSE/INSPECTION DATES

Meet a Schrader Representative at Rossville Firestation Meeting Room, 617 N Chicago St, Rossville, IL 60963 (Located on the north side of Rossville, IL, just off of Hwy 1/Chicago Street.)
Monday, February 17th from 12 Noon-2pm CST (1pm-3pm EST)
Wednesday, March 4th from 9-11am CST (10am-12 Noon EST)

PROPERTY LOCATION

Tracts 1 & 2 From I-74 exit 206 (just west of Danville, IL) travel north on Newtown Road 7 miles to the bend west at 2500 North. Continue west on CR 2500 N and travel 3 miles to CR 500 E (South 1.5 miles to Tract 2) or 1/4 mile further to CR 470 E (North 1 mile to Tract 1.
Tracts 3-6 From the intersection of CR 3680 N and Hwy 1 (1 mile north of Rossville, IL) travel west on CR 3680 N 3/4 mile to a jog in the road north to CR 3700 N. Continue west on CR 3700 N 2 miles to Tract 3. For Tracts 4-6: continue west on CR 3700 N 1/4 mile to CR 1130 E. Travel north on CR 1130 E 3/4 mile to CR 3780 N. Turn west on CR 3780 N and travel 1 mile to the property.
Tracts 7-9 From the intersection of CR 3800 N and Hwy 1 (2.25 miles north of Rossville, IL) travel east on CR 3800 N 1/8 mile to the property.
Tracts 10-14 From the intersection of CR 1900 E and Hwy 9 (4 miles east of Hoopeston, IL) travel south on CR 1900 E 2 miles to the property.

AUCTION LOCATION

The Beef House Annex - 16501 North St. Rd. 63, Covington, IN. 47932
At the intersection of I-74 & SR 63.

TRACT DESCRIPTIONS

Tract 1: 160± ac mostly all tillable with frontage on CR 470 E and 2600 N. The soils are mostly Eliott and Ashkum. Excellent investment opportunity. **UPDATE** This tract shall include the rights to all payments under the applicable Wind Energy Easement Agreement.

Tract 2: 160± ac mostly all tillable, with frontage on CR 500 E and 2230 N. The soils are mostly Eliott and Ashkum. Consider combining with Tract 1 for two very desirable tracts near Champaign, IL. **UPDATE** This tract shall include the rights to all payments under the applicable Wind Energy Easement Agreement.

Tract 3: 47± ac mostly all tillable, with frontage on CR 3700 N. The soils are mostly Ashkum and Elliott soils.

Tract 4: 45± ac mostly all tillable, with frontage on CR 3780 N. The soils are mostly Ashkum and Elliott soils.

Tract 5: 20± ac mostly all tillable, with frontage on CR 3780 N. The soils are mostly Ashkum and Elliott soils.

Tract 6: 55± ac mostly all tillable, with easement access to CR 3780 N. The soils are mostly Ashkum and La Hogue soils.

Tract 7: 101± ac mostly all tillable, with frontage on CR 3800 N. The soils are mostly Elliott and Jasper soils.

Tract 8: 71± ac mostly all tillable, with frontage on CR 3800 N. The soils are mostly Sawmill and Drummer soils.

Tract 9: 10± ac SWING TRACT
with great hunting and recreational opportunities. This tract can be bid on by an adjoining landowner or must be combined with Tract 8.

Tract 10: 80± ac mostly all tillable, with frontage on CR 3850 N. The soils are mostly Ashkum and Parr soils.

Tract 11: 62± ac mostly all tillable, with frontage on CR 3850 N. The soils are mostly Andres and Selma soils.

Tract 12: 24± ac mostly all tillable, with frontage on CR 3900 N. The soils are mostly Lisbon and Andres soils.

Tract 13: 26± ac mostly all tillable, with frontage on CR 3850 N, CR 1900 E and CR 3900 N. The soils are mostly Selma and Milford soils.

Tract 14: 13± ac mostly all tillable, with frontage on CR 3900 N and CR 900 E. The soils are mostly Milford and Lisbon soils.

TRACT MAP(S)

Tracts 1-14

Tract 1

Tract 2

Tract 3

Tracts 4-6

Tract 7-9

Tracts 10-14

AREA MAP(S)

PROCEDURE: The Properties will be offered in 16 individual tracts, any combination of tracts and as a total 874+/- acres, plus wind income tracts. 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.

BUYERS PREMIUM: A Buyers Premium of 2% will be charged to the Buyer. The Buyers Premium shall be added to the high bids to obtain the Total Contract Purchase Price.

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. Immediate possession for agriculture purposes will be available for an additional 10% down payment. 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 deed sufficient to convey insurance 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 will provide a preliminary title insurance commitment to review prior to auction. Seller agrees to furnish Buyer(s) at Sellers expense an updated Owners Policy of Title Insurance prior to closing.

CLOSING: The balance of the purchase price will be due at closing which is expected to be within approx. 30 to 90 days after the auction. The closing will be scheduled in accordance with the terms of the purchase contract which will be designed to accommodate Sellers needs for purposes of a 1031 exchange. Costs for administering the closing will be shared 50:50 between Buyer and Seller. Buyer will pay all costs of any loan obtained by Buyer.

POSSESSION: Possession is at closing subject. Immediate possession for farming purposes is available with additional deposit. Contact Auction Company for details.

REAL ESTATE TAXES: Buyer shall assume 2020 calendar year taxes due in 2021.

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 or where Seller otherwise determines a survey is appropriate. 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. Combination purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres.

PLANNING APPROVAL: The sale of all tracts is subject to any necessary county planning approval or other necessary county approval. The real estate is being offered for agricultural purposes, and any construction on the property may require county approval.

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.

WIND RIGHTS: Buyer(s) of Tracts 15 and/or 16 agree to assume Sellers position in active wind agreements and to receive all payments paid after closing. Contact Auction Company for details.

SOIL DATA / CPI: Optimum Crop Productivity Ratings for Illinois provided by University of Illinois at Champaign-Urbana. Crop yields and productivity indices for optimum management are maintained at the following NRES web site: http://soilproductivity.nres.illinois.edu

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.

Seller: GRD Limited Partnership and TIPRAD Broadcasting Company