LASALLE COUNTY, IL LAND AUCTION – GODFREY

TRACT 1 - 80.65 Surveyed Acres

• FSA records should indicate approximately 79.6 NHEL cropland acres (split fields) which includes the following:
• 3.6 CRP acres with an annual payment of $1,492 expiring 9/30/2030 (The CRP Contract shall be assigned to Buyer at the time of closing, and Seller shall be entitled to retain the 2023 annual payment.)
• Productivity Index (PI): 142 (Class A)
• Soil types include Muscatune-Buckhart, Drummer, Sable, Spaulding, Plano and Thorp
• Only 4 miles to the local grain elevator
• Access along the west side from E 13th Rd

TRACT 2 - 77.42 Surveyed Acres

• FSA records should indicate approximately 76.6 NHEL cropland acres (split fields)
• Productivity Index (PI): 139.2 (Class A)
• Soil types include Spaulding, Muscatune-Buckhart, Sable, Thorp and Osco
• Only 4 miles to the local grain elevator
• Access along the west side from E 13th Rd

Both tracts will be sold by the acre, based on the surveyed acres, and offered through the marketing method of “Buyers Choice”, whereas the high bidder can purchase either or both tracts for their high bid. If the high bidder does not elect both tracts, then the remaining tract will be offered. The tracts will not be offered together at the conclusion of the auction.

Immediately following the auction, the successful buyer(s) 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 May 12, 2023. The seller will provide title insurance in the full amount of the purchase price. The Seller shall escrow the real estate taxes for the year 2022 at 110% of the most recent ascertainable assessment/rate, with The Cantlin Law Firm, and shall pay the bill when it becomes due and payable. Further, the Seller shall give Buyer a credit for one- half of the 2023 real estate taxes, at closing, based on the most recent ascertainable assessment/rate, and Buyer shall be responsible for payment of the entire 2023 tax bill, when due/payable, on the property being purchased by Buyer. The farm shall be sold subject to the rights of the existing farm tenant as to the 2023 crop year. The Lease shall be assigned to Buyer at the time of closing. The Seller shall retain the 1st half of the 2023 cash rent payment, and the Buyer shall be entitled to receive the 2nd half of the 2023 cash rent payment, plus the Bonus payment. Said 2nd half of the 2023 cash rent payment, plus the Bonus shall be paid by the Tenant to Buyer per the terms of the Lease. Next, the Seller shall provide a Surrender of Tenancy for the 2024 crop year, effective upon removal of the 2023 crop or December 31, 2023, whichever is earlier. Call auction manager for lease details.

Note: The Buyer shall reimburse the Tenant at the time of closing, for the 75% balance of the applied limestone in the amount of $6,310.68, which said amount shall be divided on a per acre basis between the Tracts.

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”.

As described in the purchase contract, the buyer will reimburse the tenant at closing for 75% of the expense for limestone that was applied fall 2022.

Tract 1 - $3,662

Tract 2 - $2,648

Entire farm was sampled May 19, 2022

pH - 6.3

P - 56#/A

K - 323#/A

PIN: 08-05-301-000 - 157.02A - $7591.72

Note: This includes drainage tax of $235.53

Note: This FSA information is for both auction tracts.