Springfield, IL 62629 - Sangamon County

Thursday, May 23, 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

Sangamon County, Illinois

The Lubin Trust real estate is located on the southeast side of Springfield, IL. The property is further described as being in Section 23, T15N-5W, Woodside Township, Sangamon County, Illinois.

SELLER

Lubin Trust

MANAGED BY

Rodney Borrowman (630) 247-0667

John Borrowman (217) 430-0645

GENERAL INFORMATION

48.01 surveyed acres 1 tract

The real estate contains a total of 48.01 surveyed acres and will be sold in 1 tract. For farmers and investors seeking a well-maintained farm with potential for development near the University of Illinois-Springfield campus and Lake Springfield, this opportunity seems promising. The proximity to these amenities could attract interest for various development possibilities, making it a valuable investment opportunity to consider. The farm is conveniently located near the I-55/I-72 corridor.

TRACT INFORMATION

48.1 surveyed acres

FSA records indicate 37.88 NHEL cropland acres

Productivity Index (PI): 132.5

Soil types include Osco, Rozetta, and Ipava

Development potential

Zoned R1 as unimproved farmland with an agricultural tax code

East Hazel Dell Road borders the farm on the north and West Lake Shore Drive borders the farm on the east

REAL ESTATE TAX INFORMATION

Parcel# 22230201010 - $689.22

Parcel# 22230201009 - $1,285.64

METHOD & TERMS

The Lubin Trust farm will be sold on a price per acre basis, based on surveyed acres.

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, June 20, 2024.

The seller will provide title insurance in the full amount of the purchase price and will pay the 2023 taxes, due and payable in 2024, with a credit at closing. Buyer will pay all the 2024 taxes and beyond. Possession 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).

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.

Lubin Trust

Closing & Title Work:

Prairie Land Title

3301 Constitution Dr A, Springfield, IL 62711 | (217) 726-0617

Auction Managers:

Rodney Borrowman (630) 247-0667

John Borrowman (217) 430-0645