Yates City Community Center, 102 West Main Street, Yates City IL 61572.
SALEM PARTNERS, LLC
Tract 1 – $14,300 per acre
Tract 2 – $7,000 per acre
FARM LOCATION: The property is located 3 miles west of Yates City on IL Route 8 to County Hwy. 19 (1900E), 4 miles north to County Hwy. 17 (900N) then east 1 mile in the Northeast Quarter of Section 20, Elba Township (T.10N.-R.4E.), Knox County, IL. The farm has been surveyed and will be offered in 2 contiguous tracts by bidder’s choice and privilege.
TRACT 1: THE EAST 81.54 ACRES (M/L)
Tract 1 lies level to gently rolling and is mostly all tillable with the exception grass waterways located at the south end of the farm. Primary soil types include Ipava, Osco, Greenbush and Rozetta silt loams with a PI rating of 130.8. The parcel has frontage on County Hwy. 17 and Road 2000E.
Click here for Tract 1 Purchase Contract
Click here for Tract 1 Title Commitment
TRACT 2: THE WEST 81.54 ACRES (M/L)
Tract 2 lies undulating to gently rolling and presently features approx. 62.54 acres of cropland. Primary soil types of the tillable acres include Osco, Ipava, Greenbush, Hickory, Rozetta and Assumption silt loams with a PI rating of 118.6. The balance of the acreage includes the bin site, timber, waterways and a small stream. The parcel has frontage on Knox Hwy. 17. The use of the northeast grain bin will be reserved until June 30, 2023. The LP gas tank at the bin site is included with the farm.
Click here for Tract 2 Purchase Contract
Click here for Tract 2 Title Commitment
NOTE: The cropland has been maintained in a very good state of productivity. Limestone has been recently applied.
Fertilizer and Lime Applications
70 Acres of 18-46-60 Fall Fertilizer was applied for the 2023 crop by Walters Ag Service, Farmington, IL. The fertilizer was applied on the corn stalks which consist of all of the cropland on Tract 2 and 10 acres of cropland along the west side of Tract 1. Cost Per Acre – $118.67
The cost of the fertilizer shall be reimbursed to the sellers by the buyer(s) at the closing.
Tract 1 – 10 acres @ $118.67 per acre = $1,186.70
Tract 2 – 60 acres @ $118.67 per acre = $7,120.20
Limestone Applications by Walters Ag Service – No Reimbursement Required.
Fall of 2020: 1.5 tons per acre were applied to the East 128 acres of cropland which includes all of Tract 1 and the east section of Tract 2.
Fall of 2021: 2 tons per acre were applied to all of the cropland on both Tracts 1 and 2.
SALE PROCEDURE: Tracts 1 and 2 will be offered by bidder’s choice whereby the high bidder has the privilege of selecting either one or both tracts. In the event one tract is selected the remaining tract will then be sold.
TERMS OF SALE: Ten percent (10%) of the purchase price to be paid down at time of sale with balance due at closing on or before February 24, 2023. Buyers will receive possession at the closing for the 2023 crop year. Title insurance will be provided. The 2022 real estate taxes payable in 2023 will be paid by the sellers. The farm is selling with no contingences. Bidders must have financing arrangements made prior to participating in the auction. All statements and representations herein are believed to be correct, however, the sellers 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.
NOTICE: The auction will be conducted both In-Person and Online. Online bidding is powered by Proxibid. Join us at the auction venue or participate from your home or office. Contact the auction firm for further details.