MERCER & WARREN COUNTY, IL LAND AUCTION - LAKE
Tuesday, August 29, 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
LOCATION
Land is generally located approximately 15 miles Northwest of Galesburg, IL or approximately 12 miles Southeast of Viola, IL. Tract 1 is located in Section 16 of North Henderson Township, Mercer County, IL. Tract 2 & 4 are located in Section 35 of North Henderson Township, Mercer County, IL. Tract 3 is located in Section 3 of Kelley Township, Warren County, IL.
Directions to Tract 1: from North Henderson go north 1 mile on 320th St to 30th Ave then west 1 mile.
Directions to Tract 2 & 4: from North Henderson go south on 320th St 2 miles.
Directions to Tract 3: from North Henderson go south on 320th St 3 miles. North Henderson is located approximately 7 1/2 miles north of Galesburg, Illinois on HWY 150 to Knox HWY 34, then west approximate 5 miles.
SELLER
Lake Family Farms
Scott & Bridget Lake
Roger & Judy Lake
MANAGED BY
Jim Sullivan (217) 440-8172
GENERAL INFORMATION
Tracts 1, 2 & 3 represent tillable productive farmland. Tract 4 is improved with grain storage bins (a 22,000 bushel bin built in 2008 & a 16,000 drying bin built in 2006).
SOLD!
TRACT 1 - $8,850.00 PER ACRE
TRACT 2 - $9,100.00 PER ACRE
TRACT 3 - $12,100.00 PER ACRE
TRACT 4 - $95,000.00 LUMP SUM
TOTAL - $2,315,838.00
INTERNET BIDDING CATALOGS
TRACT INFORMATION
Tract 1 - 99.86 Acres
- FSA figures should indicate 84.26 cropland acres
- Soil types include Ipava, Greenbush, Hickory, Sylvan, Clarksdale, Rozetta and Orion (PI): 120.7
- Access on the south by 30th Ave and on the east by 310th St
Tract 2 - 71.26 Acres
- FSA figures should indicate 59 cropland acres
- Soil types include Greenbush, Osco, Elco, Radford, and Hickory (PI): 122
- Access on the west by 320th St
Tract 3 - 56.91 Acres
- FSA figures should indicate 51.39 cropland acres
- Soil types include Ipava, Rozetta, Osco, Muscatune, Greenbush and Elco (PI): 131.9
- Access on the south by 290th Ave and on the east by 160th St
Tract 4 - 5.57 Acres
- FSA figures should indicate 2.8 cropland acres
- Soil types include Elco, Osco and Radford (PI): 110
- Access on the south by 300th Ave
- This tract is improved with 3 grain bins, a 40’ x 90’ steel machinery storage building and a 26’ x 60’ wood frame storage building
- Continuous Flow Grain Drying System
- Drying Control (installed 2014)
- DMC CALC-U-DRI
- Two GSI 30 HP (3 Ph) centrifugal fans
- Two GSI 3,000,000 BTU LP burners
- Rated at 700 bu./hour
- Drying bin (Built 2006)
- 16,000 bushel capacity
- 36’ grain stir-rite
- 8” power sweep auger with 5HP (3Phase) motor
- 8” Horizontal unload Auger with 7.5HP (3Phase) motor
- Bin stairs with double platform
- Storage bin (Built 2008)
- 22,000 bushel capacity
- 10 HP (3 Ph) GSI centrifugal fan
- 8” sweep auger with 3 HP (3Ph) motor
- 8” Horizontal unloading auger with 10HP (3Ph) motor
- Bin stairs with double platform
- 3500 bu (18’ diameter)
- 7 HP 3Ph GSI vane axial fan
- 3 HP 3Ph 8” unload auger
- 1.5 HP Single phase sweep auger
- Drying Control (installed 2014)
METHOD & TERMS
Bidding will be on a per acre basis tract 1, 2 & 3. Bidding will be for the total dollar amount or “lump sum” on Tract 4. Tracts 1-3 will be offered through the marketing method of “Buyer’s Choice”, whereas the high bidder can elect any or all of Tracts 1-3 (in any order) for their high bid. “Buyer's Choice” auctioning will continue on Tracts 1-3 until all 3 tracts have been purchased. Tract 4 will sell last. The tracts will NOT be offered in their entirety at the conclusion of the auction.
Immediately following the auction, the successful buyer will be required to sign and enter into a written 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 September 29, 2023.
The Seller will provide Title Insurance in the full amount of the purchase price. Possession on the cropland acres will be given at the time of closing, subject to the removal of the crops growing thereon. Possession of the grain bins on Tract 4 will be given at the time of closing. Seller will retain the 2023 crop and pay the 2023 real estate taxes.
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”.
AERIAL TOUR
TRACT 1 - FSA INFORMATION
TRACTS 2 & 4 - FSA INFORMATION
TRACT 3 - FSA INFORMATION (INCLUDES A PORTION OF AN ADJOINING FARM TO THE NORTH)
TRACT 1 - SOIL TEST RESULTS
TRACT 2 - SOIL TEST RESULTS
TRACT 3 - FSA INFORMATION (INCLUDES A PORTION OF AN ADJOINING FARM TO THE NORTH)
TRACT 1 - TILE INFORMATION
Lake Family Farms - Seller
Scott & Bridget Lake
Roger & Judy Lake
Representing Attorney:
Brian A. Peterson | Simpson Peterson
246 E. Main St., Suite 201, Galesburg, IL 61401 | (309) 343-6152
Auction Manager:
Jim Sullivan (217) 440-8172