Hancock County, IL Land Auction - Payne Trust
Friday, June 18, 2021 | 10:00 AM Central
Auction closed.
Hancock County, IL Land Auction - Payne Trust
Friday, June 18, 2021 | 10:00 AM Central
Auction closed.
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See Special Terms for additional fees
See Special Terms for additional fees
Description
160 Acres± • 2 Tracts
The Lewis A. and Margaret A. Payne Trust farm contains approximately 160 acres (subject to survey) and will be sold in 2-tracts. The farm is located approximately 4 miles northwest of Plymouth, IL, just west of St. Mary along the Colmar to Denver Road (13 miles southeast of Carthage or 20 miles southwest of Macomb, IL). The property is further described as being located in the South Half of Section 10, T4N-R5W, St. Mary Township, Hancock County, IL. Tract 1 is nearly all-tillable, productive Class A farmland and Tract 2 is improved, open pasture land.
Auction Managers:
John Sullivan (309) 221-6700
Dan Sullivan (319) 795-1833
The Lewis A. and Margaret A. Payne Trust farm contains approximately 160 acres (subject to survey) and will be sold in 2-tracts. The farm is located approximately 4 miles northwest of Plymouth, IL, just west of St. Mary along the Colmar to Denver Road (13 miles southeast of Carthage or 20 miles southwest of Macomb, IL). The property is further described as being located in the South Half of Section 10, T4N-R5W, St. Mary Township, Hancock County, IL. Tract 1 is nearly all-tillable, productive Class A farmland and Tract 2 is improved, open pasture land.
Auction Managers:
John Sullivan (309) 221-6700
Dan Sullivan (319) 795-1833
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Method and Terms
Lot # 0 (Sale Order: 1 of 3)
This lot is informational and may be used for test bidding - place your actual bids below on Lots #1-2.
Both tracts will be sold on a price per acre basis, based on the surveyed acres. Each tract will be offered individually and will NOT be combined 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 as a non-refundable down payment. The balance of the bid price will be due at closing, on or before Monday, July 19, 2021. Bidding is NOT subject to the following contingencies, including but not limited to: financing, appraisal, or inspection. The seller will provide title insurance in the full amount of the purchase price and pay the 2020 real estate taxes, due and payable in 2021. The farm sells subject to a one-year cash rent crop tenancy. The buyer will receive the full cash rent income for 2021 (contact auction company for details) and pay the 2021 real estate taxes, due in 2022. Possession will be given at the time of closing.
All announcements 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, drone video, 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".
CLICK HERE TO VIEW FSA INFORMATION
CLICK HERE TO VIEW SURVEY PLAT
CLICK HERE TO VIEW TITLE COMMITMENT
CLICK HERE TO VIEW TRACT 1 PURCHASE AGREEMENT
CLICK HERE TO VIEW TRACT 2 PURCHASE AGREEMENT
Lewis A. and Margaret A. Payne Trust
Matthew Payne | Kevin Payne | Rebecca Payne
Representing Attorney:
Christopher G. Scholz
Scholz, Loos, Palmer, Siebers & Duesterhaus LLP
625 Vermont
Quincy, IL 62301
(217) 223-3444
Auction Managers:
John Sullivan (309) 221-6700
Dan Sullivan (319) 795-1833
Tract 1 - 135.62 Surveyed Acres
Lot # 1 (Sale Order: 2 of 3)
Quantity: 136
- FSA information should indicate 127.12 cropland acres
- Soil Productivity Index (PI): 133.5 on tillable acres (Class A)
- Productive soil types include: Ipava and Virden
- Balance of the acres is waterways
- N County Road 2900 borders Tract 1 on the east side
The purchase agreement will be adjusted to a quantity of 135.62 acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value.
$11,900.00 x 136 = $1,618,400.00 Total
Tract 2 - 26.09 Surveyed Acres
Lot # 2 (Sale Order: 3 of 3)
Quantity: 26
- All open, improved pasture land
- Good perimeter fences
- Rural public water is available along the south side
- E. County Road 1000 (Colmar to Denver Road) borders Tract 2 on the south side and N County Road 2900 on the east side
The purchase agreement will be adjusted to a quantity of 26.09 acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value.
$6,150.00 x 26 = $159,900.00 Total
