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Method and Terms Lot #0 (Sale Order 1 of 8) This lot is informational and may be used for test bidding - place your actual bids below on Lots #1-6. All tracts will sell on a price per acre basis, based on the surveyed acres. Tract 6 will be surveyed but sell for a lump sum or total dollar amount. Tracts 1, 2, 3, 4 & 5 will be offered through the marketing method of "Buyer's Choice," whereas the high bidder can elect (in any order) any or all of the tracts for their high bid. Buyer's Choice will continue until all 5 tracts have been selected. We will then sell Tract 6 (grain facilities and farm outbuildings) for a lump sum total dollar amount. The tracts will NOT be offered in their entirety at the conclusion of the auction. Immediately following the auction, the winning bidder(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 the time of closing, on or before November 30, 2021. Bidding is NOT subject to the following contingencies, including but not limited to: financing, appraisal, or inspection. Possession of tracts 1, 2, 3, 4 & 5 will be given at the time of closing, subject to the current crop tenancy for the 2021 crop year only. Possession of Tract 6 will be given at time of closing. Once the 2021 crop is harvested and after closing, the new buyer will have all rights to the property. All cropland tracts sell with full farming rights for the 2022 planting season. Title insurance in the full amount of the purchase price will be provided by the seller. The 2021 real estate taxes, due and payable in 2022, will be paid by the seller, with the 2022 and all subsequent real estate taxes to be paid by the buyers. All announcements made sale day take precedence over 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 made by seller or Sullivan Auctioneers, LLC pertaining to this property. Real estate is being sold "AS IS". YEILD HISTORY 2019 - Corn: 215.2 - Beans: 61.6 2018 - Corn: 231.8 - Beans: 65.9 2017 - Corn: 250.8 - Beans: 64.5 2016 - Corn: 219.2 - Beans: 57.1 2015 - Corn: 217.1 - Beans: 67.1 AVG - Corn: 226.8 - Beans: 63.2 Tract 6 Inspection: Monday, October 18th from 4:00 - 5:00 P.M. The entire farm is currently being surveyed and the advertised acres are estimated at this time. If the survey is not completed by the auction date, the acres stated on the purchase contract will be estimated. Final acreage adjustments will be made at closing based on the survey results. Kathleen H Lauer Family Trust Brenda Haynes & Martin Lauer, Co-Trustees Restatement of The Declaration of Trust of Elroy R Lauer Linda Dimmig, Trustee Representing Attorney Michael S. Guilfoyle Guilfoyle & Stevenson LLP 1316 Meriden Street Mendota, IL 61342 (815) 539-6711 Auction Manager Kevin Haas (309) 264-7767 |
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Tract 1 - 100 Acres+/- (Subject to Survey) Lot #1 (Sale Order 2 of 8)
The purchase agreement will be adjusted to a quantity of surveyed acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value. The entire farm is currently being surveyed and the advertised acres are estimated at this time. If the survey is not completed by the auction date, the acres stated on the purchase contract will be estimated. Final acreage adjustments will be made at closing based on the survey results. |
$15,800.00 x 80 = $1,264,000.00 Total
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Tract 2 - 80 Acres+/- (Subject to Survey) Lot #2 (Sale Order 4 of 8)
The purchase agreement will be adjusted to a quantity of surveyed acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value. The entire farm is currently being surveyed and the advertised acres are estimated at this time. If the survey is not completed by the auction date, the acres stated on the purchase contract will be estimated. Final acreage adjustments will be made at closing based on the survey results. |
$15,800.00 x 80 = $1,264,000.00 Total
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Tract 3 - 80 Acres+/- (Subject to Survey) Lot #3 (Sale Order 5 of 8)
The purchase agreement will be adjusted to a quantity of surveyed acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value. The entire farm is currently being surveyed and the advertised acres are estimated at this time. If the survey is not completed by the auction date, the acres stated on the purchase contract will be estimated. Final acreage adjustments will be made at closing based on the survey results. |
$15,800.00 x 79 = $1,248,200.00 Total
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Tract 5 - 168.36 Acres+/- (Subject to Survey) Lot #5 (Sale Order 6 of 8)
The purchase agreement will be adjusted to a quantity of surveyed acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value. The entire farm is currently being surveyed and the advertised acres are estimated at this time. If the survey is not completed by the auction date, the acres stated on the purchase contract will be estimated. Final acreage adjustments will be made at closing based on the survey results. |
$16,000.00 x 168 = $2,688,000.00 Total
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Tract 4 - 73.5 Acres+/- (Subject to Survey) Lot #4 (Sale Order 7 of 8)
The purchase agreement will be adjusted to a quantity of surveyed acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value. The entire farm is currently being surveyed and the advertised acres are estimated at this time. If the survey is not completed by the auction date, the acres stated on the purchase contract will be estimated. Final acreage adjustments will be made at closing based on the survey results. |
$11,700.00 x 74 = $865,800.00 Total
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Tract 6 - 2.2 Acres+/- (Subject to Survey) Lot #6 (Sale Order 8 of 8) Equipment Storage Structures
Grain System
Grain/Equipment Support Items
This tract will be sold for a lump sum, total dollar amount. |
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