Streator, IL 61364 - LaSalle County

Wednesday, January 31, 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

LaSalle County, Illinois

Tracts 1-3 are located 6 miles west of Streator, IL or 40 miles north of Bloomington, IL. Tract 4 is located 3 miles northwest of Ransom, IL or 8 miles northeast of Streator, IL. The land is further described as being located in Section 35, T31N-R2E, Eagle Township, and Section 6, T31N-R5E, Allen Township, LaSalle County, Illinois.

SELLER

Michael & Harriett McDonald Estate

MANAGED BY

Kevin Haas (309) 264-7767

GENERAL INFORMATION

320.797 total acres 4 tracts

Farmers & investors, take advantage of this opportunity! Tracts 1-3 represent a large block of Class A soil with tremendous eye appeal. Tract 4 contains productive soils with additional wind energy income.

TRACT INFORMATION

Tract 1 - 80.775 surveyed acres

FSA records should indicate 79.9 NHEL cropland acres (estimated)

Productivity Index (PI): 144.4 (Class A)

Soil types include Muscatune-Buckhart, Muscatune, and Sable

Access along the south side from N 12th Rd

Tract 2 - 80.914 surveyed acres

FSA figures should indicate 79.9 NHEL cropland acres (estimated)

Productivity Index (PI): 144.6 (Class A)

Soil types include Muscatune-Buckhart, Muscatune, and Sable

Access along the south side from N 12th Rd

Tract 3 - 80.828 surveyed acres

FSA figures should indicate 78.88 NHEL cropland acres (estimated)

Productivity Index (PI): 144.6 (Class A)

Soil types include Muscatune, Muscatune-Buckhart, and Sable

Improved with a 21,000 bu. capacity grain bin, dryer, fan, stirator, and a corn crib

Access along the south side from N12th Rd and along the east side from E11th Rd

Tract 4 - 78.28 taxable acres

FSA records indicate 76.96 NHEL cropland acres

Enrolled in the Invenergy Grand Ridge II wind project

2023 income: $13,076.00

Productivity Index (PI): 119.5

Soil types include Swygert, Bryce, and Rutland

Access along the north side from N 18th Rd

REIMBURSEMENT INFORMATION

The buyer will reimburse the seller at closing for:

Tract 1

Zero

Tract 2

$600 for tillage

$600 for NH3 application

$3218.19 for NH3 (175#N/A)

Tract 3

$1170 for tillage

$1170 for NH3 application

$6275.46 for NH3 (175#/A)

Tract 4

$1170 for tillage

$1170 for NH3 application

$4179.36 for NH3 (114#/A)

YIELD HISTORY

Tracts 1-3 Combined

Year - Corn Beans

2020 - 233 65

2021 - 267 61

2022 - 243 70

2023 - 248 68

AVG - 248 66

Tract 4

Year - Corn Beans

2018 - 229

2019 - 52

2020 - 185

2021 - 55

2022 - 225

2023 - 63

AVG - 213 57

REAL ESTATE TAX INFORMATION

Tract 1

PIN 32-35-301-000 - 80.0A - $5771.70

Tracts 2 & 3

PIN 32-35-400-000 - 160.0A - $11,030.04

Tract 4

PIN 35-06-102-000 - 77.77A - $1979.98

PIN 35-06-103-000 - 0.51A - paid by wind energy company

METHOD & TERMS

Tracts 1-3 of the McDonald farm will be sold on a price per acre basis, based on surveyed acres. Tract 4 will be sold on a price per acre basis, based on taxable acres. Tracts 1-3 will be offered through the marketing method of Buyers Choice, whereas the high bidder can elect Tracts 1-3 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 Tracts 1-3 have been elected. Tract 4 will be sold last. 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, March 1, 2024.

The seller will provide title insurance in the full amount of the purchase price. Seller will pay all the 2023 real estate taxes by establishing an escrow at closing. Buyer pays all 2024 real estate taxes and beyond. Open lease for 2024 crop year and beyond. Possession at closing.

The buyer of Tracts 2, 3, and 4 will reimburse the seller at closing for fall tillage and nitrogen fertilizer applied for the 2024 corn crop. Contact auction manager for details.

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.

Michael & Harriett McDonald Estate

Representing Attorney:

Frank J. Black | Black & Black Lawyers

201 Liberty St., Suite 211, Morris, IL 60450 | (815) 942-0594

Auction Manager:

Kevin Haas (309) 264-7767