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REAL ESTATE AUCTION - 102+/- ACRES OFFERED IN 10 TRACTS IN BOONE COUNTY, ILLINOIS

Belvidere, IL - Boone County, IL

Owner: Hardeman Co. (Tracts 1 & 2) & Verona Properties, LLC (Tracts 3-10)
1PM (CST) - 2PM (EST)
Tue, Dec 7, 1:00 PM

• 51 +/- & 43+/- Acre Tracts Plus 8 Residential Lots • Potential Residential Development Property w/ Access to Sanitary Sewer & City Water • 8 Large Residential Lots from .79 to 1.21+/- Acres in Impressive River Subdivision • Productive Tillable Land


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Monday, November 8th from 2-4pm
Monday, November 22nd from 2-4pm

Meet a Schrader Representative at Tract 1 at the end of River Run Pkwy

PROPERTY LOCATION

Tracts 1 & 3-10: From the NW side of Belvidere at the intersection of State St (Bus. US 20 to the W), N Appleton Rd to the S & Bus. US 20 (Jim Gang Memorial Hwy Bypass) to the N, go W on State St. (Bus. US 20) for 2 1/2 mi. to Distillery Rd. Then go S on Distillery Rd approx. 1 mi. to River Run Pkwy. Go W on River Run Pkwy approx. .4 mi. to Tract 1 at the end of River Run Pkwy. You will pass Tracts 3-10 on River Run Pkwy & Driftwood Ct traveling to Tract 1.
Tract 2: From Distillery Rd & Bus. US 20, go W on Bus. US 20 approx. 1.2 mi. to Shaw Rd. Go S on Shaw Rd for approx. 1 mile to Tract 2 on the left. Turn left onto Shaw Mills Ln to view the interior of the property.

AUCTION LOCATION

The Community Building Complex of Boone County
111 W 1st Street Belvidere, IL 61008
DIRECTIONS: From the S side of Belvidere at the intersection of Genoa Rd & US 20 (Grant Hwy), go W on US 20 approx. .8 mi. to State St. Go N on State St .9 mi. to 1st St. Go W (left) on 1st St for a 1/2 block to auction site on the right.
From the NW side of Belvidere at the intersection of State St (Bus. US 20 to the W), N Appleton Rd to the S & Bus. US 20 (Jim Gang Memorial Hwy Bypass) to the N, go SE on State St towards downtown Belvidere for approx. 1.6 mi. to 1st St (short distance S of Logan Ave). Go W on 1st St for a 1/2 block to the auction site on the right.

PROPERTY DESCRIPTION

Tracts 3-10 (Zoned SR3/Single Family Residential 3/District) Single family residential building lots on the W side of Belvidere in River Run Subdivision - Plat 1. This is an impressive country subdivision w/ light traffic, having no thru streets, yet close to the conveniences offered in Belvidere & Rockford. Also consider the natural amenities of having the Distillery Rd Conservation Area of the Boone County Conservation District & Kishwaukee River nearby. The lots are within the Belvidere Community Unit School District 100. City water is available & sewage is handled by septic.

TRACT DESCRIPTIONS

Tract 1: 51± ac A mix of non-tilled & tillable land w/ some woods, accessed by River Run Pkwy which stubs to the E side of the property. Property is mostly zoned SR3/Single Family Residential/3 District & there is a small amount that is zoned SR4/Single Family Residential/4 District on the W side. Sanitary Sewer & city water is available w/ lines running through the property. Auction Company has been advised by the Belvidere Community Development Planning Department that this property was part of a larger parcel that had a preliminary plat approved on February 2, 2004. Tract 1 is w/in the Belvidere Community Unit School District 100.

Tract 2: 43± ac This tract also has a mix of non-tilled & tillable land. It fronts on Shaw Rd, Shaw Mills Ln & Shaw Mills Ln also stubs to part of the interior of the property. It is zoned SR4/Single Family Residential/4 District. Sanitary sewer & city water is available. Tract 2 is w/in the Belvidere Community Unit School District 100.

Tract 3: 1.1± ac (Lot 19) - 1.09+/- Acres: Nice large lot w/ most of its back property line backing up to a storm water detention area. A mostly rectangular lot w/ frontage on the S side of River Run Pkwy. It has a narrow drainage easement on it along the W property line.

Tract 4: 1.2± ac (Lot 23) - 1.21+/- Acres: Nice large lot being mostly rectangular in shape. The property fronts on the E side of Driftwood Ct & has a narrow drainage easement on it along the S property line.

Tract 5: 1.2± ac (Lot 29): Nice large lot that is partially wooded in the rear. It has frontage on the W side of Driftwood Ct.

Tract 6: 1.1± ac (Lot 30) - 1.09+/- Acres: Nice large corner lot at the SW corner of Driftwood Ct & River Run Pkwy. This lot has a small area of trees in the SW corner & is mostly rectangular in shape.

Tract 7: 1.1± ac (Lot 13) - 1.12+/- Acres: Nice large lot near the entrance of subdivision. This lot has frontage on the N side of River Run Pkwy.

Tract 8: 0.8± ac (Lot 7) - .79+/- Acres: Nice lot w/ frontage on the N side of River Run Pkwy setting between two existing homes.

Tract 9: 0.8± ac (Lot 3) - .85+/- Acres: Nice large, rectangular lot w/ frontage on the N side of River Run Pkwy.

Tract 10: 0.9± ac (Lot 1) - .92+/- Acres: Nice large, mostly rectangular lot w/ frontage on the N side of River Run Pkwy.

TRACT MAP(S)

Tracts 1-10

AREA MAP(S)

PROCEDURE: The property will be offered in 10 individual tracts, any combination of tracts & as a total 102+/- acre unit. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations & 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, & are capable of paying cash at closing.

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

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 & 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 approx. 30 days after the auction or as soon as possible thereafter upon completion of surveys, if applicable, the final title commitment & Seller's closing documents. Costs for an administered closing shall be shared 50:50 between Buyer(s) & Seller. All lender costs shall be paid by Buyer(s).

POSSESSION: Possession is at closing subject to the rights of farm tenant for the 2021 crop on Tracts 1 & 2. Possession is at closing for Tracts 3-10.

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

ACREAGE: All tract acreages, dimensions & proposed boundaries are approx. & have been estimated based on county tax parcel data, county GIS, surveys & subdivision plat.

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 & successful bidder(s) shall each pay half (50:50) of the cost of the survey except for Tract 1 survey which Seller will pay all of the survey cost. The type of survey performed shall be at Seller's option & sufficient for providing title insurance. Final sales price shall be adjusted to reflect any difference between advertised acres & surveyed acres only for auction Tracts 1 & 2 & only if auction Tracts 1 & 2 sell separately from any other tract.

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 & due diligence concerning the property. Inspection dates have been scheduled & will be staffed w/ auction personnel. Further, Seller disclaims any & 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 & all existing easements.

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

DISCLAIMER & ABSENCE OF WARRANTIES: All info contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, & no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries & due diligence concerning the property. The info 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 & increments of bidding are at the direction & discretion of the Auctioneer. The Seller & 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.