Hancock County, IL Land Auction
Thursday, February 25 at 10:00 am
366 Acres • 5 Tracts
Thursday, February 25, 2020 • 10:00 AM
Auction to be held at the Carthage Eagles Club, 519 N Madison, Carthage IL.
TRACT 1 - 90.83 acres @ $14,800.00 per ac.
TRACT 2 - 49.89 acres @ $13,000.00 per ac.
TRACT 3 - 47.18 acres @ $14,600.00 per ac.
TRACT 4 - 11 acres w/ House and Shed- $150,000.00
TRACT 5 - 167.36 acres @ $10,500.00 per ac.
LOCATION & GENERAL INFORMATION
Tracts 1-4 are located 2 miles west of Carthage, IL on Highway 136 to Road 1600E then ½ mile north. Tract 5 is located 3 miles west to Road 1500E then ½ mile north. They are situated in Sections 20, 21 & 22 of Prairie Township, Hancock County, IL. This auction offers some good producing cropland as well as a very nice smaller Country Home with 11 acres. To inspect Tract 4, you are invited to attend an Open House on Sunday, January 31st from 11am to 1pm, or by scheduling an appointment. All of the tillable tracts have some field tile. Not all tile maps have been located. We will announce at the auction, only the tiled areas that we are sure of.
TRACT 1 - 90.83 surveyed acres of all level, tillable cropland with Virden and Ipava soils and a 136 PI. It has some pattern tile and is unimproved.
TRACT 2 - 49.89 surveyed acres of level to gently rolling cropland with Ipava soil and a 138 PI. FSA figures indicate 47 acres tillable with the balance being waterways. It has some pattern tile and it is unimproved.
TRACT 3 - 47.18 surveyed acres of mostly level, tillable cropland with Ipava soil and a 138 PI. FSA figures indicate 43 acres tillable with the balance being former railroad right of way. The north 30 acres is pattern tiled and it is unimproved.
TRACT 4 - 11.00 surveyed acres improved with a very well-maintained set of improvements including a 1½ story home with partial basement, gas furnace, central air and serviced by Dallas Rural Water. It is further improved with a 30'x30' FS garage with 2 overhead doors with openers: Morton 48'x60' machine shed; an older and beautifully restored barn; and a few other buildings as well as a 3000-bu. grain bin. All of the buildings including the house are white with red roofs or trim. To the north of the buildings is a 5-acre pasture well fenced for livestock and to the south of the buildings is a 3-acre tillable field currently in hay.
TRACT 5 - 167.36 surveyed acres of level, nearly all tillable cropland with Rubio, Virden and Ipava soils and a 125 PI. FSA figures indicate 158 acres tillable with the balance being former railroad right of way and building site. It is improved with a 42'x54' Morton machine shed. There is an older house in poor repair and other buildings of little value. This tract has some pattern tile.
TERMS OF SALE
All tracts have been surveyed, with the surveyed acres being used to calculate the final settlement price. Tracts 1, 2, 3 and 5 will be sold on a price per acre basis. Tract 4 will be sold for a total dollar amount. Immediately following the auction, the successful Buyer(s) will be required to enter into a written purchase agreement with the Sellers and pay ten percent (10%) of the purchase price. The balance of the bid price will be due at the time of closing on or before March 25, 2021. Bidding is NOT subject to any contingencies, including but not limited to, financing, appraisal, or inspections. Title Insurance in the full amount of the purchase price will be provided by the Sellers. Possession will be given at the time of closing, subject to a 50/50 crop share tenancy on all tracts (except tract 4) for the 2021 crop season. Buyer(s) agree to assume all rights and responsibilities to the crop share tenancy for the 2021 crop year. The 2020 real estate taxes due in 2021 will be paid by the Sellers by way of credit to the Buyers at closing using the latest available tax figures. The 2021 real estate taxes payable in 2022 and subsequent years will be paid by the Buyer(s). A copy of the purchase contract may be inspected prior to sale day by contacting the attorneys for Sellers, Harold B. Oakley and Jeffrey L. Terry, at 217-223-3030.
All announcements sale day shall take precedence over any 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, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to the property. This real estate is being sold “AS-IS”.
COVID INFORMATION - Seating will be arranged for social distancing and face masks will be required. Anyone who feels uncomfortable attending may contact Mike Sullivan prior to sale day and arrange for live phone bidding.
THE CURTIS HABBEN HEIRS
Attorneys for Sellers - Harold B. Oakley, Jeffrey L. Terry
Schmiedeskamp Robertson Neu & Mitchell LLP
525 Jersey St., Quincy, IL 62301 • 217-223-3030