Van Adkisson Auction Service Auction Catalog - Knox County, IL Land Auction - Salem Partners, LLC Online Auctions

Terms of Sale

Lot #0 (Sale Order 1 of 3)

* This Lot is for informational purposes only *

SALE PROCEDURE: Tracts 1 and 2 will be offered by bidder's choice whereby the high bidder has the privilege of selecting either one or both tracts. In the event one tract is selected the remaining tract will then be sold.

TERMS OF SALE: Ten percent (10%) of the purchase price to be paid down at time of sale with balance due at closing on or before February 24, 2023. Buyers will receive possession at the closing for the 2023 crop year. Title insurance will be provided. The 2022 real estate taxes payable in 2023 will be paid by the sellers. The farm is selling with no contingencies. Bidders must have financing arrangements made prior to participating in the auction. All statements and representations herein are believed to be correct, however, the sellers and the auctioneers make no warranties or guarantees expressed or implied. Any announcements made on the day of sale will supersede those previously advertised. Van Adkisson Auction Service LLC serves solely as agent for the seller and assumes no liability of any kind with the property being sold.

NOTE: The cropland has been maintained in a very good state of productivity. Limestone has been recently applied.

The property is selling under standard auction terms - As Is - without warranties or guarantees either expressed or implied. The sale is not subject to any contingencies. Bidders must have financing arrangements made prior to participating in the auction. Bidders are responsible for performing their own due diligence prior to participating the auction.

The information that is provided by the auction firm has been obtained from reliable sources and is believed to be correct. However, the sellers and the auction firm cannot guarantee the information. Any announcements made on the day of the auction will take precedence over any printed, electronic or oral representations made previously.

Van Adkisson Auction Service LLC serves solely as agent for the seller and assumes no liability of any kind with the property being sold.

SELLER: SALEM PARTNERS, LLC
Robert Turner | Mark Turner

ATTORNEY: Patrick C. Egan | Egan Law, LLC
2101 Windish Drive | Galesburg, IL 61401 | 309-343-5010

AUCTIONEERS: Van Adkisson (309)337-1761
Jeff Gregory (309)337-5255

INTERNET BIDDING: Heather Gregory (309)337-2217

Click here to view the full listing on our website.

Tract 1 - The East 81.54 Acres

Lot #1 (Sale Order 2 of 3)

Tract 1 lies level to gently rolling and is mostly all tillable with the exception grass waterways located at the south end of the farm.

Primary soil types include Ipava, Osco, Greenbush and Rozetta silt loams with a PI rating of 130.8.

The parcel has frontage on County Hwy. 17 and Road 2000E.

Click here for Tract 1 Purchase Contract

Click here for Tract 1 Title Commitment

The purchase agreement will be adjusted to 81.54 acres times the per acre bid price to determine the final purchase amount. The bidding platform rounds the quantity value.

$14,300.00 x 82 = $1,172,600.00 Total

Tract 2 - The West 81.54 Acres

Lot #2 (Sale Order 3 of 3)

Tract 2 lies undulating to gently rolling and presently features approx. 62.54 acres of cropland.

Primary soil types of the tillable acres include Osco, Ipava, Greenbush, Hickory, Rozetta and Assumption silt loams with a PI rating of 118.6.

The balance of the acreage includes the bin site, timber, waterways and a small stream.

The parcel has frontage on Knox Hwy. 17.

The use of the northeast grain bin will be reserved until June 30, 2023. The LP gas tank at the bin site is included with the farm.

Click here for Tract 2 Purchase Contract

Click here for Tract 2 Title Commitment

The purchase agreement will be adjusted to 81.54 acres times the per acre bid price to determine the final purchase amount. The bidding platform rounds the quantity value.

$7,000.00 x 82 = $574,000.00 Total


Knox County, IL Land Auction - Salem Partners, LLC
Real Estate > Van Adkisson Auction Service > Knox County, IL Land Auction - Salem Partners, LLC
Knox County, IL Land Auction - Salem Partners, LLC
by Van Adkisson Auction Service Wed, Jan 25, 2023 10:00 AM Central The auction will be conducted both Live and Online. The live auction will be held at the Yates City Community Center, 102 West Main Street, Yates City, IL 61572. Bidders are invited to join us at the auction venue or to participate remotely online from your home or office. No buyer’s premium will be charged. 163.08 SURVEYED ACRES – 2 TRACTS - KNOX COUNTY, ILLINOIS PRODUCTIVE FARMLAND – TIMBER – GRAIN BIN SITE Physical Address: 1954 Knox Highway 17, Maquon, IL 61458. FARM LOCATION: The property is located 3 miles west of Yates City on IL Route 8 to County Hwy. 19 (1900E), 4 miles north to County Hwy. 17 (900N) then east 1 mile in the Northeast Quarter of Section 20, Elba Township (T.10N.-R.4E.), Knox County, IL. SELLER: SALEM PARTNERS, LLC Robert Turner \| Mark Turner ATTORNEY: Patrick C. Egan \| Egan Law, LLC 2101 Windish Drive \| Galesburg, IL 61401 \| 309-343-5010 AUCTIONEERS: Van Adkisson (309)337-1761 & Jeff Gregory (309)337-5255 INTERNET BIDDING: Heather Gregory (309)337-2217