Lima, IL 62348 - Hancock County

Thursday, March 21, 2024 - 11:00 AM 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

Hancock County, Illinois

The Schrader farm is located along Hwy 96 north of Lima, IL (west & south of Sutter, IL) and is further described as being located in Sections 6 & 18, T3N - R8W, Walker Township, Hancock County, Illinois.

SELLER

The Eleanor Sue Schrader Trust

Mary Hurlburt, AVP Trust Coordinator

Marine Bank & Trust, Successor Trustee

MANAGED BY

Michael Sullivan (309) 333-0916

Dan Sullivan (319) 795-1833

GENERAL INFORMATION

293 acres (subject to survey) 4 tracts

The tracts represent productive, tillable farmland, CRP acres & timber/draws for recreation & hunting. The farms sell free & clear for the 2024 crop year!

TRACT INFORMATION

Tract 1 - 71 acres (subject to survey)

FSA figures indicate 68.41 acres of cropland currently in row crop production

Productivity Index (PI): 116.2

Soil types include Winfield, Atterberry, Greenbush & Fishhook

Access is on all 4 sides - west by Hwy 96, south by ECR 350, east by NCR 385 & north by ECR 380

Tract 2 - 69 acres (subject to survey)

FSA figures indicate 23.64 acres of cropland currently in row crop production

An additional 30.78 acres of cropland are enrolled in CRP contracts. One contract includes 22.20 acres enrolled at a payment rate of $159.11 per acre for an annual payment of $3,532.00 (expires in 2025). The other contract includes 8.58 acres enrolled at a payment rate of $179.27 per acre for an annual payment of $1,538.00 (expires in 2027).

The balance of the farm represents timber & draws which offer hunting/recreational opportunities.

Potential building sites with rural water available

Access is along the south side by ECR 350 & along the west side by NCR 385

Tract 3 - 43 acres (subject to survey)

FSA figures indicate 32.39 acres of cropland currently in row crop production

An additional 8.52 acres of cropland are enrolled in a CRP contract which pays $181.40 per acre for an annual payment of $1,546.00 (expires in 2025).

Productivity Index (PI): 114.4

Soil types include Winfield, Greenbush, Velma & Elco-Ursa

Potential building sites with rural water available

Access is along the west by Hwy 96 & along the north by ECR 550

Tract 4 - 110 acres (subject to survey)

FSA figures indicate 102.61 acres of cropland currently in row crop production

Productivity Index (PI): 111

Soil types include Winfield, Velma, Greenbush, Osco, Hickory & Muscatune

Access is along the north by ECR 550

METHOD & TERMS

All 4 tracts will be sold on a price per acre basis, based on surveyed acres and 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.

The acreages in this advertisement are estimated and will change based on the results of a survey which is currently being completed. The surveyed acreages will be used to calculate the final contract price. The surveyed acreages and survey plat will be posted online.

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 Monday, April 22, 2024.

The seller will provide title insurance in the full amount of the purchase price and pay the 2023 real estate taxes, due and payable in 2024. Possession will be given at the time of closing.

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, a BigIron company, pertaining to this property. Real estate is being sold AS IS.

The Eleanor Sue Schrader Trust

Mary Hurlburt, AVP Trust Coordinator

Marine Bank & Trust, Successor Trustee

Representing Attorney:

Thomas F. Hartzell, Attorney at Law | Tucker, Hartzell, & Bryant

PO Box 70, Carthage, Illinois 62321 | 217-357-3121

Auction Managers:

Michael Sullivan (309) 333-0916

Dan Sullivan (319) 795-1833