Sold At Auction:
$13,200 Per Acre
PRIVATE SEALED BID
REAL ESTATE AUCTION
80.07 ACRES – PRIME FARMLAND
COLDBROOK TOWNSHIP – WARREN COUNTY, IL
*BID DEADLINE: FRIDAY, MARCH 27, 2020 – 10 A.M.*
*TELECONFERENCE AUCTION: FRIDAY, MARCH 27 – 11:30 A.M.*
PLAT LOCATION: 80.07 surveyed acres, being offered in one tract located in the East Half of Southeast Quarter of Section 14, Coldbrook Township (T.11N.-R.1W.), Warren County, Illinois. PIN: 04-014-009-00. 2018 Real Estate Taxes: $4,956.40
GENERAL LOCATION: 1684 210TH Ave., Cameron, IL 61423, located 3 miles West of Galesburg or 9 miles East of Monmouth on Route 164 to 170th Street then 1 mile South. The farm has frontage on 170th Street and 210th Avenue, both good all-weather oil & chip roads.
DESCRIPTION: The Rissing Farm consists of 80.07 surveyed acres and will be sold as one tract including the house and garage. The land is all tillable with the exception of the home site which is improved with a well maintained 1488 sq. ft., 1.5 story, 2 bedroom home and 1 car garage. Primary soil types of the cropland are Sable, Ipava and Osco silt loams with a PI rating of 142.8! The cropland sells with full possession for the 2020 crop year and offers an excellent opportunity to farm operators and investors!
TERMS: Ten percent (10%) of the purchase price to be paid down at time of sale with balance due on or before April 27, 2020. Possession of the cropland may be granted to the purchaser prior to the closing should the purchaser provide proof of liability insurance and indemnify the sellers from any claims of liability. Landlord’s Possession of the residence and home site will be given at the closing subject to the rights of the present tenant. The buyer will assume the landlord’s position of residence and home site lease. The buyer will receive the rent for the residence and home site beginning May 1, 2020. The rent is $350 per month. The lease expires August 31, 2020. The 2019 real estate taxes payable in 2020 will be paid by the sellers and all subsequent taxes shall be paid by the buyers. Title insurance will be provided. All statements and representations herein are believed to be correct, however, the seller and the auctioneers make no warranties or guarantees expressed or implied. Any announcements made on the day of sale will supersede those previously advertised. Van Adkisson Auction Service LLC serves solely as agent for the seller and assumes no liability of any kind with the property being sold
PLEASE NOTE THE FOLLOWING!
SEALED BID TELECONFERENCE AUCTION PROCEDURE
Individuals must submit a sealed bid to participate. Bidders are required to submit a sealed bid of no less than $10,900 per acre based on 80.07 surveyed acres. All bids must be submitted in writing to Van Adkisson Auction LLC no later than 10 A.M. on Friday, March 27, 2020. Bids may be submitted via email. Contact the auction firm for a bid packet. The top five bidders will be notified by 11 A.M. on Friday, March 27, 2020 and will be invited to participate in a Teleconference Auction starting at 11:30 A.M. on Friday, March 27, 2020. Bidders that did not qualify for the top five will be notified but will not be able to participate in the Teleconference Auction. The top five bidders will be provided the teleconference sign-in information and will be assigned a Bidder Number prior to the Auction. The bidders will be referred to by the Bidder Number during the Teleconference Auction. The bidder with the highest Sealed Bid will begin the bidding at the Teleconference Auction and will be committed to purchase the farm if no other bids are obtained during the Auction. Bidding increments are at the sole discretion of the auctioneer. The successful bidder will enter into a written purchase agreement and provide the 10% down payment at the conclusion of the auction. Announcements on the day of sale will supersede those made previously. The sale is subject to the approval of the sellers.
We genuinely appreciate your cooperation and consideration and will be glad to assist you in this process. Please contact Van Adkisson Auction LLC with questions.
Land Line: 309-426-2000
FRED AND FLORENCE RISSING
Wells Fargo Bank, Trustee – Jon Sickelka, Trust Officer
Attorney: Brian A. Peterson – Simpson Peterson Law Firm
246 E. Main St. – Suite 201, Galesburg, IL 61401 – Ph. 309/343-6152
Auctioneers: Van Adkisson 309/337-1761 and Jeff Gregory 309/337-5255
VAN ADKISSON AUCTION LLC
309/426-2000 – vanadkisson.com