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LAND AUCTION - 66+/- ACRES OFFERED IN 2 TRACTS IN BOONE AND DEKALB COUNTIES, ILLINOIS

Boone & DeKalb Counties, IL

Owner: Funderburg Farms Inc
10AM (CST) - 11AM (EST)
Wed, Dec 8, 10:00 AM

• Potential Development Property • Excellent Locations • Belvidere Tract - Zoned HI, Heavy Industrial District • Both Tracts Border Railroads • Productive Tillable Land

TRACT 1: 37+/- acres on the west side of Belvidere near the FCA Belvidere Assembly Plant.
TRACT 2: 29+/- acres on the west side of DeKalb across Lincoln Highway from Northern Illinois University. The NIU Convocation Center and Huskie Stadium are Nearby.
REAL ESTATE TAXES - 2020 PAYABLE 2021:
- Tract 1 -$1,155.30 (3 PINs and pt. of 4th PIN - a small tract taxed at $0)
- Tract 2 - $2,162.10 (1 PIN)


OPEN HOUSE/INSPECTION DATES

Tuesday, November 9th from 9:00am-11:00am
Tuesday, November 23rd from 9:00am-11:00am

Meet a Schrader Representative at Tract 1 & Tract 2

PROPERTY LOCATION

Tract 1:From the south side of Belvidere at the intersection of Genoa Road and U.S. 20 (Grant Hwy) go west on U.S. 20 approximately 3 miles to Town Hall Road (FCA Belvidere Assembly Plant on southeast corner). Go north on Town Hall Road 1/4 mile to Morreim Dr., then go east on Morreim Dr. for .3 mile to Crosslink Pkwy. Then go north on Crosslink Pkwy .3 mile to the property at the end of the street on the right.
Tract 2: From the western side of DeKalb at the intersection of Annie Glidden Road and Lincoln Highway (IL - 38), travel west on Lincoln HWY (IL - 38) approximately 3/4 mile to Tract 2 on the south side of Lincoln Hwy.

AUCTION LOCATION

The Belvidere Moose Lodge #295
575 Beloit Road Belvidere, IL 61008
DIRECTIONS:From the south side of Belvidere: at the intersection of Genoa Road, U.S. 20 (Grant Highway) and Belvidere Road (Bus. US 20/Jim Gang Memorial Highway Bypass) to the north, start going north on Belvidere Road and continue on Bus. US 20/Jim Gang Memorial Highway Bypass to the north, then west and then southwesterly for a total of approximately 4.3 miles to Beloit Road. Turn right onto Beloit Road and go northerly approximately .2 mile to the auction site on the right.
From the northwest side of Belvidere: at the intersection of State Street, N Appleton Road to the south and Bus. US 20/Jim Gang Memorial Highway Bypass on the north, go northerly on Bus. US 20/Jim Gang Memorial Highway Bypass .1 mile to Beloit Road. Then turn left onto Beloit Road and go northerly approximately .2 mile to the auction site on the right.

TRACT DESCRIPTIONS

Tract 1: 37± ac Investigate the potential of this property on the west side of Belvidere with quick access to U.S. 20. The property is zoned HI, Heavy Industrial District by the city of Belvidere. Access is provided by Crosslink Parkway at the southwest corner of the property. Union Pacific Railroad borders the property on the north. Contact the Auction Managers for city water and sanitary sewer information. This property is within the local Enterprise Zone. This tract has productive soils and 36.76 cropland acres per FSA.

Tract 2: 29± ac Across Lincoln Hwy (IL - 38) from Northern Illinois University. The property has highly productive soils with over 90% being Class A. There are 29.29 cropland acres per FSA. It is zoned SFR1, Single Family Residential and is in the city of DeKalb. Contact the Auction Managers for city water and sanitary sewer information. This tract has frontage on Lincoln Hwy (IL - 38). Union Pacific Railroad borders the property on the south. This tract is within the DeKalb County Enterprise Zone.

TRACT MAP(S)

Tract 1

Tract 2

SOIL INFORMATION


Tract 1


Tract 2

AREA MAP(S)

Auction Location & Tract 1 Location

Tract 2 Location

PROCEDURE: The property will be offered in 2 individual tracts and as a total 66+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts and the total property may compete.

DOWN PAYMENT: 10% down payment on the day of auction. The down payment may be made in the form of cashier's 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.

ABSOLUTE AUCTION: The real estate is selling at absolute auction, without reserve, and will be sold to the high bidder(s), regardless of price. Successful bidder(s) will be required to enter into a Purchase Agreement at the auction site immediately following the close of the auction.

DEED: Seller shall provide a 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 the auction. Seller agrees to furnish Buyer(s), at Seller's expense, an updated title commitment prior to closing. The cost of providing an Owner's 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 or as soon as possible thereafter upon completion of surveys, if applicable, the final title commitment and Seller's closing documents. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by Buyer(s).

POSSESSION: Possession is at closing subject to the rights of farm tenants for the 2021 crop.

REAL ESTATE TAXES: Seller shall pay the real estate taxes for the calendar year 2021 (due in 2022) and all prior taxes. Buyer(s) shall assume any taxes thereafter.

ACREAGE: All tract acreages, dimensions and proposed boundaries are approximate and have been estimated based on county tax parcel data, county GIS and legal description.

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(s) shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Seller's option and sufficient for providing title insurance. Final sales price shall be adjusted to reflect any difference between advertised acres and surveyed acres.

2021 CASH RENT: All farm cash rent for the 2021 crop year goes to Seller.

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 bidder's 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 person's 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.