Carlinville, IL 62626 - Macoupin County

Thursday, February 15, 2024 - 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

Macoupin County, Illinois

The Illinois Land Trust 539 real estate is located approximately 5 miles northwest of Carlinville, IL, or 14 miles southwest of Girard, IL, or 22 miles northwest of Litchfield, Illinois. The property is further described as being in Sections 1 & 12, T10N-R8W, Bird Township, Macoupin County, Illinois.

SELLER

Illinois Land Trust 539

MANAGED BY

Rodney Borrowman (630) 247-0667

John Borrowman (217) 430-0645

GENERAL INFORMATION

320 acres (subject to survey) 3 tracts

The real estate contains a total of 320 acres (subject to survey) and will be sold in 3 tracts. Tracts 1 and 2 are highly productive, nearly all-tillable Class A soil farms, and Tract 3 is a combination farm with tillable and recreational acres.

Farmers and investors, be sure to check out these investment-quality Macoupin County, IL farms.

TRACT INFORMATION

Tract 1 80 acres (subject to survey)

FSA figures should indicate 81.39 NHEL cropland acres

Productivity Index (PI): 133.1

Soil types include Herrick, Virden, and Keller

Nearly 100% tillable

Access along the west side from Branchwood Rd

Tract 2 80 acres (subject to survey)

FSA figures should indicate 81.64 NHEL cropland acres

Productivity Index (PI): 134.2

Soil types include Herrick and Virden

Nearly 100% tillable

Access along the west side from Branchwood Rd

Tract 3 160 acres (subject to survey)

FSA figures should indicate 143.68 NHEL cropland acres

Productivity Index (PI): 129.9

Soil types include Herrick, Keller, and Virden

The balance of acres in timber

Access along the south side from Colbrook Rd

METHOD & TERMS

The Illinois Land Trust 539 real estate will be sold on a price per acre basis, based on surveyed acres. The 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 Thursday, March 28, 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, through a credit at closing. Buyer will be responsible for all the 2024 real estate taxes and beyond. Possession on tract 1 will be given at the time of closing, subject to a farm lease for the 2024 and 2025 crop years of which the new buyer will receive the landowners share of the farm lease income for 2024 and 2025. Possession on tracts 2 and 3 will be given at the time of closing, subject to a farm lease for the 2024 crop year of which the new buyer(s) will receive the landowners share of the farm lease income for 2024 (contact the auction managers for the details regarding the farm lease). There are no hunting leases associated with tract 3. Open crop tenancy for 2026 and beyond on tract 1 and for 2025 and beyond on tracts 2 and 3.

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.

Illinois Land Trust 539

Representing Attorney:

Barry Hines, Attorney at Law

1224 Centre West Drive, Suite 200A, Springfield, IL 62704 | (217) 953-4051

Auction Managers:

Rodney Borrowman (630) 247-0667

John Borrowman (217) 430-0645