LEE COUNTY, IL LAND AUCTION – ERDMANN

Friday, February 03, 2023 - 10:00 AM Central

Auction to be conducted as a virtual, online auction. If you need assistance with internet bidding, please contact our office at

(844) 847-2161

How to participate in a Virtual Online Auction

SOLD!

TRACT 1 – $13,100 PER ACRE

TRACT 2 – $220,000 LUMP SUM

TOTAL – $2,672,097.30:

LOCATION

Lee County, Illinois

The Erdmann farm is located approximately 12 miles northeast of Dixon, Illinois or 16 miles southwest of Rochelle, Illinois. The property is further described as being located in Section 24, T22N-R10E, Franklin Grove township, Lee County, Illinois.

SELLER

Elizabeth V. Erdmann Trust, Peter M. Erdmann, Trustee & Peter M. Erdmann Trust, Peter M. Erdmann, Trustee

MANAGED BY

Kevin Haas (309) 264-7767

GENERAL INFORMATION

197.83 Total Acres • 2 Tracts

The real estate contains a total of 197.83 total acres and will be sold in 2 tracts. Tract 1 represents productive tillable cropland while Tract 2 represents a beautiful country home improved with multiple buildings and grain storage. Farmers and country enthusiasts, be sure to check out this Lee County, Illinois auction.

AUCTION BROCHURE

VIEW INTERACTIVE AUCTION BROCHURE

INSPECTION

Tract 2 Open House: Saturday, January 21, 2023 • 10:00 AM – 12:00 PM

2046 Daysville Rd, Franklin Grove, IL 61031

INTERNET BIDDING CATALOGS

CLICK HERE TO VIEW INTERNET BIDDING AND IMPORTANT DOCUMENTS

TRACT INFORMATION

TRACT 1 - 187.183 Acres

FSA map indicates 185.78 NHEL cropland acres
Productivity Index (PI): 123.1
Soil types include Fanpetten, Nachusa, Prairieville, Jasper, Clyde, Dickinson, La Hogue, Binghampton and Orio
Improved with a 7 tower Valley center pivot irrigation system with a corner arm system
220’ well with 16” casing (diesel engine powered but NOT included)
Farm is leased for 2023 & 2024 crop years (contact auction manager for details)
Access along the west side from Daysville Rd.

TRACT 2 - 10.647 Surveyed Acres

3-story farm house
- Open house: Saturday, Jan. 21, 2023 from 10:00 AM –12:00 PM
- 5 Bedrooms
- 2 Bathrooms
- Basement
- Natural Gas furnace
- Central A/C
Grain Facility
- Approximately 250,000-bushel storage capacity
  - (1) 160,000 bu. Bin
  - (1) 40,000 bu Bin
  - Several Harvestore silos
- Grain Leg
- Meyer 700B dryer (Natural Gas)
- Meyer 850B dryer (Natural Gas)
- 70’ split truck scale with digital readout
- Control building for dryers and grain leg
- 25x55 combo scale house, office, and/or additional living quarters. Recently remodeled into a 3 bedroom, 1.5 bath residence
60x104 machine shed with concrete floor
42x104 building with concrete floor
36x106 heated combination garage & shop with concrete floor
24x81 carpentry shed
16x30 office building with a half bath
Additional outbuildings
Note - Tract 2: ~~- This tract is not included in the farm lease agreement. Possession at closing.~~ The small amount of tillable acres on tract 2 are included in the existing farm lease agreement and are leased for the 2023 & 2024 crop years. The balance of tract 2 (house, buildings & grain bins) are not included in the farm lease agreement and the buyer will receive possession at closing.
There are approximately 7 landscape bushes that are being retained by the seller and will be removed by the seller.
The large liquid fertilizer tank contains some liquid fertilizer that is not included in the auction. This liquid fertilizer will be removed by the seller.
As described in the tract 2 purchase contract section 5, the seller hereby reserves the right to remove any and all items of personal property and tangible items that the seller desires by May 15, 2023. Any items of personal property or tangible items not removed by May 15, 2023 shall be the property of the buyer.

METHOD & TERMS

Tract 1 of the Erdmann farm will be sold on a price per acre basis, based on a soon to be completed survey. Tract 2 will be sold as a lump sum total dollar amount. The tracts will not be offered in their entirety at the end of the auction.

Immediately following the auction, the successful buyer will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing which will take place on or before March 3, 2023, no extensions. The seller will provide title insurance in the full amount of the purchase price and pay the 2022 real estate taxes, due and payable in 2023. Buyer will be responsible for the 2023 and all subsequent real estate taxes. Possession will be given at time of closing subject to a 2023 and 2024 crop tenancy lease (contact auction manager for details).

Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property.

All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers, LLC pertaining to this property. Real estate is being sold “AS IS”.