Harmon, IL 61042 - Lee County

Wednesday, January 24, 2024 - 10:00 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

Lee County, Illinois

The Shultz farm is located just southeast of Harmon, IL or 10 miles southeast of Sterling/Rock Falls, IL. The land is further described as being located in Sections 14, 23 & 24, T20N-R8E, Harmon Township, Lee County, Illinois.

SELLER

The Robert H. Shultz Jr. Revocable Trust

Robert H. Shultz Jr. - Trustee

Merriam Shultz Helmsing

MANAGED BY

Isaac Taber (309) 335-8081

Kevin Haas (309) 264-7767

GENERAL INFORMATION

328.75 acres (subject to survey) 3 tracts

Farmers & investors, take advantage of this opportunity to purchase a large acreage with quality soils, located close to excellent grain market outlets.

TRACT INFORMATION

Tract 1 152 acres (subject to survey)

FSA records indicate 142.65 NHEL cropland acres

Productivity Index (PI): 113.3

Soil types include Hooppole, Orio, Sparta, Dickinson, Binghampton, Dakota, Selma, Clyde, and Morocco

Improved with a 42 Sukup stiffened drying bin

23,000 bu drying capacity

power sweep, fan, hi-lo LP heater, stirrator, inside ladder

built in 2015

Small patch of timber in the southwest corner serves as whitetail deer habitat

Access in the northwest corner from Henry Rd

Tract 2 96 acres (subject to survey)

FSA records indicate 92.99 NHEL cropland acres

Productivity Index (PI): 115.3

Soil types include Hooppole, Dakota, Selma, Dickinson, Sparta, Binghampton, and Clyde

Access along the east side from Atkinson Rd

Tract 3 81.02 taxable acres

FSA records indicate 77.63 NHEL cropland acres

Productivity Index (PI): 113.1

Soil types include Clyde, Selma, Hooppole, Dickinson, Sparta, Dakota, Orio, and Binghampton

Access along the west side from Atkinson Rd

REAL ESTATE TAX INFORMATION

Tracts 1 & 2

PIN 10-13-23-100-002 - 80.5A - $2773.50 -- Includes $194.36 drainage district tax

PIN 10-13-14-400-003 - 7.23A - $210.36 -- Includes $18.00 drainage district tax

PIN 10-13-23-200-001 - 160.0A - $4167.78 -- Includes $383.46 drainage district tax

Tract 3

PIN 10-13-24-100-001 - 81.02A - $2261.26 -- Includes $168.60 drainage district tax

SOIL TEST RESULTS

Tract 1

pH - 7.0

P - 59 #/A

K - 330 #/A

Tract 2

pH - 6.9

P - 59 #/A

K - 407 #/A

Tract 3

pH - 6.9

P - 54 #/A

K - 343 #/A

YIELD HISTORY (ALL 3 TRACTS COMBINED)

Year - Corn Beans

2021 - 200 52.0

2022 - 207 65.0

2023 - 211 60

METHOD & TERMS

The Shultz farm will be sold on a price per acre basis. Tracts 1 & 2 will be sold based on surveyed acres. Tract 3 will be sold based on taxable acres. All 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, February 23, 2024.

The seller will provide title insurance in the full amount of the purchase price. Seller will pay the 2023 taxes, due and payable in 2024, with a credit at closing. Buyer will be responsible for 2024 taxes and beyond. Open lease for 2024 crop year and beyond. Possession at 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, LLC pertaining to this property. Real estate is being sold AS IS.

The Robert H. Shultz Jr. Revocable Trust

Robert H. Shultz Jr. - Trustee

Merriam Shultz Helmsing

Representing Attorney:

Timothy W. Kirk, Shareholder | Heyl, Royster, Voelker & Allen, P.C.

300 Hamilton Boulevard, Peoria, Illinois 61601 | (309) 677.9519

Auction Managers:

Isaac Taber (309) 335-8081

Kevin Haas (309) 264-7767