Real Estate > Van Adkisson Auction Service > McDonough County, IL Land Auction - Allen Farm
McDonough County, IL Land Auction - Allen Farm
by Van Adkisson Auction Service
Fri,
Sep
8,
2023
10:00 AM
Central
The auction will be conducted both Live and Online.
The live auction will be held at the Macomb V.F.W., 1200 East Jefferson Street, Macomb, IL 61455.
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.
FARM LOCATION: 19195 N. 950th Road, Adair, IL 61411, at the intersection of Roads N950th and E1900th, 2 miles west of Adair or 8 miles SE of Macomb.
PLAT LOCATION: 164.74 surveyed acres located in the Southwest Quarter of Section 17, New Salem Township (T.5N.-R.1W.), McDonough County, Illinois.
SELLER: THE ALLEN FARM
RICHARD D. ALLEN AND BARBARA J. OLSON
ATTORNEY: James D. Blake | Blake Law Office
56 North Prairie St. | Galesburg, IL 61401 | Ph. (309)343-3155
AUCTIONEERS: Van Adkisson (309)337-1761 & Jeff Gregory (309)337-5255
INTERNET BIDDING: Heather Gregory (309)337-2217
** PLEASE TAKE NOTICE **
You are required to provide a bank reference before being accepted to participate in this auction online. Please contact the auction company with this information - Heather Gregory (309)337-2217 / hmg@vhtmail.net
Online bidders must be registered and approved by the auction firm no later than 1 p.m. on September 7, 2023.
Tract Information & Terms of Sale
Lot #1 (Sale Order 1 of 1)
FARM LOCATION: 19195 N. 950th Road, Adair, IL 61411, at the intersection of Roads N950th and E1900th, 2 miles west of Adair or 8 miles SE of Macomb.
PLAT LOCATION: 164.74 surveyed acres located in the Southwest Quarter of Section 17, New Salem Township (T.5N.-R.1W.), McDonough County, Illinois.
DESCRIPTION: The prime tract lies level and is all tillable with the exception of the building site. The farm features highly productive Ipava and Sable silt loam soils with a PI rating of 142.2. Improvements: 44'x60' machine shed, 11,000 bu. grain dryer bin and 2-3200 bu. storage bins.
This auction offers an outstanding opportunity to farm operators and investors interested in acquiring top quality Western Illinois farmland!
The farm was recently surveyed. The surveyors have determined that the total acreage in the farm is 164.74 acres. The total acreage includes 2 exemptions that are noted on the survey. The total acreage in the exemptions is 3.25 acres. Both exemptions were on Deeds dated and recorded in the year 1880. The 3.0 acre exemption includes what is now known as North 950th Road. The 0.25 acre exemption is a former school house site on the southwest corner of the farm.
It is the opinion of the surveyors that the 2 exemptions have been possessed and maintained by the Allen Farm, the farm's previous owners and the township road for decades.
The road and school site exemptions will be conveyed to the buyer by Quit Claim Deed. No title insurance will be issued.
Calculation: 164.74 total acres less 3.25 acres in exemptions = 161.49 acres.
Therefore 161.49 acres will be transferred to the buyer by Warranty Deed with title insurance.
The purchase price will be calculated by multiplying the per acre bid price times 161.49.
The buyer will not be charged for the north road exemption and the southwest school site exemption.
Please contact Van Adkisson @ (309)337-1761 with any questions or concerns.
* The purchase agreement will be adjusted to 161.49 acres times the per acre bid price to determine the final purchase amount. The bidding platform rounds the quantity value.
TERMS OF SALE: Ten percent (10%) of the purchase price to be paid down at time of sale with balance due on or before October 19, 2023. Possession of the cropland will be given upon completion of the harvest of the 2023 crop. Possession of the grain bins will be given on February 28, 2024. Title insurance will be provided. The 2023 real estate taxes payable in 2024 will be paid by the sellers. 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. The real estate is selling with no contingencies. Bidders must have financing arrangements made prior to participating in the auction. Van Adkisson Auction Service LLC serves solely as agent for the sellers and assumes no liability of any kind with the property being sold.
SELLER: THE ALLEN FARM RICHARD D. ALLEN AND BARBARA J. OLSON
ATTORNEY: James D. Blake | Blake Law Office 56 North Prairie St. | Galesburg, IL 61401 | Ph. 309/343-3155
AUCTIONEERS: Van Adkisson (309)337-1761 Jeff Gregory (309)337-5255
Fri,
Sep
8,
2023
10:00 AM
Central
