Galva, IL 61434 - Henry County

Monday, October 2, 2023 - 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

Knox County, Illinois

The Jones farm is located approximately 3 miles south of Galva, IL along Knox Highway 4 and 2000 E. The farm is further described as being located in Section 16, T13N-R4E, Lynn Township, Knox County, IL.

SELLER

Known Locally as the Marilyn Jones Farm

MANAGED BY

Jim Sullivan (217) 440-8172

Isaac Taber (309) 335-8081

GENERAL INFORMATION

79.19 taxable acres 1 tract

The farm represents productive tillable farmland, CRP acres, a timbered draw and an older two-story farmhouse.

TRACT INFORMATION

79.19 taxable acres

FSA figures indicate 67.4 cropland acres (60.14 NHEL cropland acres)

Currently 4.7 acres enrolled in CRP with a payment of $294.29 per acre and $1,383.00 annually

CRP contract expires in 9/30/2027

Productivity Index (PI): 130.5 (Class B)

Soil types include Osco, Greenbush, and Ipava

Non-cropland acres represent a timbered draw with recreational opportunities

Tract improved with a two-story farmhouse

Access is along the north side by County Hwy 4 (blacktop) and along the west side by 2200 E (gravel)

METHOD & TERMS

The Marilyn Jones farm will be sold on a price per acre basis, based on taxable 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 November 2, 2023.

The seller will provide title insurance in the full amount of the purchase price. Seller will retain the 2023 cash rent income and pay all the 2023 real estate taxes, due and payable in 2024. Open lease for 2024 crop year and beyond. Possession at closing, subject to an existing cash rent lease for the 2023 crop year only. 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.

Known Locally as the Marilyn Jones Farm

Representing Attorneys:

Robert Lindstrom & Reynolds M. (Rip) Everett | Barash & Everett, LLC

110 N. Exchange Street, Galva, Illinois 61434 | (309) 932-2001

Auction Managers:

Jim Sullivan (217) 440-8172

Isaac Taber (309) 335-8081