Cerro Gordo, IL 61818 - Piatt County

Wednesday, November 29, 2023 - 1:00 PM Central

Auction to be conducted as a virtual, online auction. If you need assistance with internet bidding, please contact our office at (844) 847-2161

LOCATION

Piatt County, Illinois

The Kerley farm is located 3 miles northeast of Cerro Gordo, IL, 6 miles southeast of Cisco, IL, or 14 miles northeast of Decatur, IL. The farm is further described as being located in Section 13, T17N - R4E, Willow Branch Township, Piatt County, IL.

SELLER

Kerley Properties, LLC

MANAGED BY

Kevin Haas (309) 264-7767

John Borrowman (217) 430-0645

Rodney Borrowman (630) 247-0667

GENERAL INFORMATION

203.298 surveyed acres 2 tracts

Farmers & investors, don't miss this opportunity to purchase a Class A farm located in close proximity to excellent grain markets.

Farm sells with open farming and hunting rights for 2024!

TRACT INFORMATION

Tract 1 100.54 surveyed acres

FSA figures should indicate 96 NHEL cropland acres

Productivity Index (PI): 139.7 (Class A)

Soil types include Drummer, Flanagan, Wyanet, Dana, Catlin, and Elburn

Improved with a grain bin, 20,000+ bu. capacity -- 3-phase electricity -- Aeriation floor -- 2 aeriation fans -- Stirator (needs repair)

Access along the north side from E950N Rd, along the west side from N200E Rd, and along the south side from E900N Rd.

Tract 2 102.74 surveyed acres

FSA figures should indicate 97.4 NHEL cropland acres

Productivity Index (PI): 137.7 (Class A)

Soil types include Elburn, Plano, Proctor, Drummer, Dana, Flanagan, and Wyanet

Access along the north side from E950N Rd and along the south side from E900N Rd

SOIL TEST RESULTS

Tract 1

pH - 6.4

P - 72 #/A

K - 397 #/A

Tract 2

pH - 6.2

P - 33 #/A

K - 212 #/A

YIELD HISTORY

Corn Beans

2015 239bu/A 2015 72bu/A

2016 232bu/A 2016 73bu/A

2017 202bu/A 2017 66bu/A

2018 259bu/A 2018 81bu/A

2019 211bu/A1 2019 64bu/A

2020 NA 2020 - NA

2021 257bu/A 2021 65bu/A

2022 220bu/A 2022 68bu/A

2023 238bu/A 2023 80bu/A

REAL ESTATE TAX INFORMATION

PIN 08-13-17-004-004-00 - 200A - $11,188.34

Includes $388.80 drainage tax

METHOD & TERMS

The Kerley farm will be sold on a price per acre basis, based on surveyed acres. Both tracts will be offered through the marketing method of Buyers Choice, whereas the high bidder can elect any of the tracts for their high bid. If the high bidder does not elect all offered tracts, then the remaining tract(s) will continue to be offered Buyers Choice until all tracts have been elected. The tracts will NOT be offered in their entirety at the conclusion of the auction.

Immediately following the auction, the successful buyer will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing which will take place on or before Friday, December 29, 2023.

The seller will provide title insurance in the full amount of the purchase price and will pay all the 2023 real estate taxes, due and payable in 2024, through a credit at closing. Open lease for 2024 crop year and beyond. Possession at closing, subject to existing lease for the 2023 crop year (current lease ends January 1, 2024).

Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property.

All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website 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 the seller or Sullivan Auctioneers, LLC pertaining to this property. Real estate is being sold AS IS.

Kerley Properties, LLC

Title Company:

Doreen Miller, Senior Commercial Escrow Officer, Attorney | Near North Title Group

1 Bronze Pt., Swansea, IL 62226 | (618) 971-8822

Auction Managers:

Kevin Haas (309) 264-7767

John Borrowman (217) 430-0645

Rodney Borrowman (630) 247-0667