Mercer County, IL Land Auction
SOLD! TRACT 1 – $12,500.00 PER ACRE
SOLD! TRACT 2 – $12,300.00 PER ACRE
SOLD! TRACT 3 – $35,000.00 LUMP SUM
SOLD! TRACT 4 – $86,000.00 LUMP SUM
TOTAL – $3,108,978.00
240 Acres± (Subject to Survey) – 4 Tracts
Thursday, November 14, 2019 at 5:00 P.M.
Auction to be held at St. John’s Church Fellowship Hall – 2406 170th Ave., Preemption, IL 61276
Location & General Information
The Boruff Farm is located approx. 2 miles southeast of Reynolds, IL and is further described as being located in Sections 6 & 7, T15N – R2W, Preemption Township, Mercer County, IL. Tract 1 represents Class A, tillable farmland. Tract 2 represents productive tillable cropland. Tracts 3 & 4 are country homes situated on smaller acreages. Tracts 1 & 2 sell with farming rights for the 2020 crop year.
Tract 1 – 81 Acres± (Subject to Survey)
- FSA figures indicate 80.76 acres of NHEL cropland currently in row crop production
- PI Rating: 145 (Class A)
- Soil types include Muscatune, Sable & Denny
- Access is along the south side by 170th Ave. & along the east side 230th St.
Tract 2 – 157 Acres± (Subject to Survey)
- FSA figures indicate 149.17 acres of cropland currently in row crop production
- PI Rating: 129.5
- Soil types include Muscatune, Osco, Greenbush, Elkhart, Elco-Atlas & Sylvan
- The balance of the farm represents waterways & a timber draw
- This tract is improved with an older barn
- Access is along the north side by 170th Ave. & along the east side by 230th St.
Tract 3 – 2.5 Acres, Country Home & Outbuildings (Subject to Survey)
- This tract has an older 2-story home with approx. 2,500 sq. ft. of living area. The home has a kitchen, dining room, living room & a bedroom converted into a laundry room. The 2nd floor has (4) bedrooms & a full bath. The home is equipped with an LP gas forced furnace and a drilled well (well also provides water to tract 4 home across the road).
- Other improvements include a detached 2-car garage, 36’x 60′ quonset building, approx. 20,000 bushel grain bin & (2) other smaller grain bins
- Access is along the north side by 170th Ave.
Tract 4 – 1 Acre & Country Home (Subject to Survey)
- 1.5 story home with 1,692 sq. ft. of living area. The first floor has a kitchen, dining room, living room, bedroom & a full bath. The upstairs has (3) bedrooms. The home has central air, gas forced air heat and well water which is supplied from a well located on tract 3.
- There is also detached garage located on the property.
- Access is along the south side by 170th Ave.
Method and Terms
The Boruff farm is currently being surveyed. Tracts 1 & 2 will sell on a price per acre basis. Tracts 3 & 4 will be sold for the lump sum, total dollar amount. Tracts 1 & 2 will be offered through the marketing method of “Buyer’s Choice”, whereas the high bidder can elect, in any order, either or both tracts for their high bid. “Buyer’s Choice” auctioning will continue until both tracts 1 & 2 have been elected. Tracts 3 & 4 will be sold individually. The tracts will NOT be combined or offered in any other combinations at the conclusion of the auction.
Immediately following the auction, the successful buyer(s) will be required to enter into a written purchase agreement with the seller and pay ten percent (10%) of the bid price. The balance of the bid price will be due at the time of closing on or before Monday, December 16, 2019. Bidding is NOT contingent upon financing. Title insurance in the full amount of the purchase price will be provided by the seller. The 2019 real estate taxes, due and payable in 2020, will be paid by the seller. The 2020 & subsequent real estate taxes will be paid by the buyer(s). Possession will be given at the time of closing, subject only to the current tenant’s rights. The farm sells free & clear for the 2020 crop year.
All announcements sale day shall take precedence over any prior advertising either written or oral. The information in this brochure is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to the property. This real estate is being sold “as is”.
Ann M. Boruff Administrative Trust
Joe Trumm, AFM – US Bank
Auction Manager: Dale Jones (309) 299-6400
Marie R. Tarbox
Gosma, Tarbox & Associates PLC
201 W. 2nd St., Suite 401, Davenport, IA 52801
PH (563) 459-0180