Marie G. Gramke Estate
Wednesday, December 14 at 10:00 am
MARIE G. GRAMKE ESTATE
Wednesday, December 14, 2016 at 10:00 a.m.
Auction to be held the Holiday Inn Quincy East, 4821 Oak Street, Quincy, IL
Tract 1 - 66.02 acres @ $8,900.00 = $587,578.00
Tract 2 - 16.78 acres @ $4,600.00 = $77,188.00
Tract 3 - = $72,000.00
LOCATION & GENERAL INFORMATION
The Gramke farm, which contains 85.21 surveyed acres, is located at 1524N - 1750th, Fowler, IL. From Quincy, IL, take Highway 172 north to Highway 24, then 4 miles east (2 miles east of Fowler) to Road 1500, then a short distance south over the tracks to Roads N1750th Ave - E1500th St, then ¼ mile east.
Tract 1 - 66.02 surveyed acres. FSA figures indicate 62 acres tillable with the balance being waterways. Over half of this tract contains Ipava, Virden and Rozetta soils. The ground lays level on the south end to rolling on the north with several dry dams that were reworked three years ago. Access is by Road N1700 along the entire south end.
Tract 2 - 16.78 surveyed acres. This is a very nice smaller tract of rolling pasture with a small creek running through it. Access is by Road N1750 along the north end. Tract 1 borders the south side of Tract 2.
Tract 3 - 2.41 acres surveyed acres. Located at the northwest corner of Tract 2 and improved with a 2-story, 4-bedroom home. This house is currently being rented but is in need of some remodeling. If interested in viewing the home, please make plans to attend the Open House on Sunday, November 27th from 11:00 a.m. to 1:00 p.m. Other improvements on this tract include a barn and few other older outbuildings. Road N1750 borders the north end.
METHOD & TERMS OF SALE
Tracts 1 and 2 will be sold on a price per acre basis with the survey, which will be completed prior to the auction, determining the exact acres of each tract. Tract 3 will be sold for a "total dollar amount". They will be sold in the order listed and will not be combined. Ten percent of the bid price to be paid on day of sale with the balance due on or before January 17, 2017. Title Insurance in the full amount of the purchase price will be provided by the Seller. The 2016 real estate taxes due in 2017 will be paid by the Sellers on all tracts with the 2017 and all subsequent taxes being the responsibility of the Buyer(s). Full possession will be given as time of closing with the possible exception of Tract 3, which will be no later than January 31, 2017. Tracts 1 and 2 sell free of any farm leases. Immediately following the auction, the successful Buyer(s) shall be required to enter into a written purchase agreement with the Seller. A copy of said contract may be inspected prior to the auction by contacting the Attorney for Seller, James A. Rapp at 217-223-3030. All announcements made at the auction shall supersede any prior advertising.
MARIE G. GRAMKE ESTATE
Kathy Schwartz, Executor
Representing Attorney, James A. Rapp
Schmiedeskamp Robertson Neu & Mitchell LLP
525 Jersey Street, Quincy, Illinois 62301 • 217-223-3030