ONLINE AUCTION: Shelby County IL 107.5+/- Acres / CRP Income / Farmland / Wooded

Bidding Opens Thursday, October 10, 2024

Bidding Closes (Soft Close) Thursday, November 7, 2024 at 8PM CST

Property Inspection: By Appointment Only - Please contact Auctioneer Danny Barker at 217-827-5266

Property Address: SE Corner of 1300 East Rd & 575 North Rd, Lakewood IL 62438

DESCRIPTION

Shelby County farm consisting of approximately 107.5+/- acres located just South of Lakewood IL. Farm is currently enrolled in the CRP Program bringing in an annual payment of $15,475. This property has numerous options available! If you want to farm it, roughly 20 acres comes out of CRP in 2 years (10-2026). Another roughly 60 acres comes out of CRP in 10-2030, giving you over 80 acres of tillable cropland making this farm 75% tillable.

If youre a hunter, lets just say WOW!! This property has 2 streams that come together and meet near the north property line center of the farm, another 2 streams meet in the SW corner of the farm merging down to one creek through the center of the farm. You talk about a funnel!! Approximately 20 acres comes out of existing CRP in 2 years; these parcels can be converted to food plots. In 2030 the remaining CRP comes out and you could resign it up, however we would want to do it different than current. The west side of the creek is currently in General signup where about 1/2 of that field would or could go to Continuous Practice like bottomland hardwoods. Then take 10 acres and put it in a CP-9 Wildlife Water which will pay well also. The balance place into Switchgrass and you just built one heck of a deer and pheasant patch! And it will still bring in nearly $17,000 a year.

The property has great access on 2 sides and is the connection point for all the wooded corridors in the area. Look at some of these aerial maps and you will see what I am talking about.

If your sole goal is income.take advantage of some better CRP programs as they become available and you could see a hunting lease upwards of $5,000+ a year. The farm is capable of $22,000 a year in income. Or, let all the CRP expire, cash rent the tillable and lease the hunting out and you're near that same figure.

Directions to Property: From Illinois State Highway 128 South, turn West on County Highway 12 towards Lakewood, then turn South on 1300 East Road and go approximately 1.5 miles. Farm is located on the SE corner of 1300 East Road and 575 North Road.

PROCEDURE

Registration: Proper registration is required to bid. All bidders must provide name, address, phone number and email address to register. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Auctioneer reserves the right to refuse to register or admit Buyer at his/her sole discretion.

Note: If you are unable to bid Online or are unsure about the reliability of your internet connection, call the Auctioneer and make alternative bidding arrangements at least 24 hours prior to closing of auction.

Bidding will be on a PER ACRE BASIS (e-bay style/max bid) with a minimum opening bid of $6000. Minimum bid increments of $50 per acre.

BIDDING will OPEN THURSDAY, OCTOBER 10, 2024 and will be available until 8:00 PM CST THURSDAY, NOVEMBER 7, 2024, subject to bid extensions (Soft Close).

TERMS AND CONDITIONS

NO BUYER'S PREMIUM.

SALE SUBJECT TO CONFIRMATION OF SELLER(S).

NO CONTINGENCIES: This Real Estate contract is not contingent on or subject to Buyers financing, appraisal, survey or inspections of any kind or any other contingencies as agreed to by bidders at registration prior to bidding.

ZONING AND EASEMENTS: Property is being sold subject to any and all easements of record. Property is subject to all state and local zoning ordinances.

REAL ESTATE TAXES: Pro-rated to day of closing.

SURVEY: N/A

MINERAL: Any mineral owned will transfer, if any.

CONTRACT AND DOWN PAYMENT: Contract for purchase to be signed within 24 hours of close of auction. A 10% down payment of the total contract purchase price will be due immediately after being declared the winning bidder. The down payment may be paid in the form of personal check, wire transfer, business check or cashier's check and received within 3 business days. Earnest check to be made to Buy A Farm Land & Auction Co. Trust Account. The balance of the contract purchase price is due at closing. Any stop payment order of a check or giving a check which is returned marked insufficient funds, shall be deemed by the parties to be evidence of fraud existing at the time the transaction was consummated and shall be construed by the parties as intent to defraud.

TITLE: Sellers shall furnish the Buyer(s) at Seller's expense marketable title in the form of Title Commitment, Title Policy and a deed conveying merchantable title to the real estate to the Buyer(s) and tax transfer stamps. Buyer will pay the deed recording, and fees associated with mortgage/financing. Title companies closing fee will be split equally by Buyer and Seller.

CLOSING: Closing shall occur less than 30 days or as soon thereafter as applicable closing documents are completed. Seller shall pay for recording release from any mortgage. Buyer shall pay for recording the deed of conveyance from Seller and any mortgage title insurance charges. Any closing costs not herein provided for shall be borne by Buyer. Seller shall cause the Closing Statement to be delivered to Buyer at or before the closing.

POSSESSION: Possession at closing.

AGENCY: Buy A Farm Land & Auction Co LLC is the Agent and Representative of the Seller.

The information is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed the owners or Buy A Farm Land & Auction Co LLC 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 the Seller(s) or Buy A Farm Land & Auction Co LLC pertaining to this property. Real estate is being sold "As Is, Where Is".

AUCTIONEER: Danny Barker, IL Lic 441.001598, 217-827-5266.