LAND AUCTION | 395 ACRES in LASALLE COUNTY
Saturday, June 11, 2011 at 10:00 am
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5 Tracts in size from 75 to 80 acres each.
Property Location:
4 miles SW of Newark on Route 71 to Route 52, then 1/2 mile E on Route 52, then one mile S on E28th Road.
LEGAL: Part of the South 1/2 of Sec 26 and Part of the North 1/2 os Sec 35 all in Mission Township.
Aerial Map
Auction Location:
Newark American Legion Hall
1/4 mile SW of Newark, IL on Route 71, then 1/4 mile S on Fennel Road - 606 Fennel Road.
Map
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Property Description:
The property is all contigious, divided only by N 37th Road. It will be offered in 5 Tracts ranging in size from 75 to 80 acres each. The high bidder will have CHOICE of any or all tracts. The Soils are predominently B & A rated. One Tracts has a pole building and grain storage and 4 Tracts are vacant land.
Tract 1 & 2: description to be posted.
Tract 3:
400 Amp 3 PH Power.
Improvements consist of:
1. 8 ring x 27 ft drying bin w/ newer Brock burner system and fan, est. 10,000 BU.
2. 8 ring x 27 ft storage bin w/ full areation floor, est 10,000 BU.
3. 8 ring x 36 ft GSI drying bin with Brock burner and fan, est. 15,000 BU. (bin less than 5 yrs old)
4. Older corn crib with metal sides.
5. Older tool shed.
Tract 4 & 5: description to be posted.
Soil Map Reports:
Soil Test Reports:
Terms:
The seller shall provide a clear title to the Real Estate subject to any and all easements recorded at the time of sale. The successful bidder will be required to enter into a sales contract on day of sale and deposit $50,000 earnest money on each Tract, or a maximum of $150,000 if 3 or more Tracts are purchased, to be held by Richard A. Olson & Associates in an escrow account and will be applied to the purchase price. Seller will pay 2010 Real Estate Taxes due in 2011. The Seller will provide a farm survey at closing and the Buyer will pay for the surveyed acres. The title policy and sales contract is available from the Selller's attorney.
Disclosure:
All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Agreement To Purchase. Announcements made by the auctioneer at the time of sale will take precedence over any previously printed material or any other oral statements made. The property is being sold on an as-is basis and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the auction agency. The information contained in this brochure is believed to be accurate, but is subject to verification by all parties relying on it. No liability for it's accuracy, errors or omissions is assumed by the Seller or the auction agency.
Possession & Closing:
Possession will be at closing. Subject to the tenants right to the 2011 farm lease. The first 1/2 of the 2011 cash rent will be paid to the buyer at closing and the last 1/2 in December 2011. Lease terms available on request. Lease open for 2012. Lime was applied to all acres in the Fall of 2010 and cost of $32.00 per acre will be due from the buyer. Closing will be on or before July 11, 2011. The buyer will have the option of extending the closing until October 31, 2011 at a cost of 6% of the sale price per year prorated to the closing date on any days beyond July 11, 2011. This cost will be due at closing in addition to the purchase price.
For more information and questions, contact Richard A. Olson & Associates - 815-942-1675.
Auction conducted by:
Dick Olson
Morris IL (815) 942-4266
www.richardaolson.com