American Legion Post 201, 108 E. Green St., Newman, IL.
From the intersection of U.S. Highway 36 & Broadway St. in Newman, travel 4 blocks north on Broadway St. to Green St., turn right/east on Green St. to the American Legion.
Live in person auction with online bidding available.
60.0 +/- acres of highly productive farmland with 53.25 FSA cropland acres classified non-HEL located in Section 1 of Newman Township. Farm sells with Wind Turbine Income. Also, the south half of this farm recently had installed a pattern tile drainage system. The Productivity Index (PI) for the soils on this tract is 138.2 (Class A).
Newman, IL: From intersection of US Hwy. 36 & CR 2450E just west of Newman, travel north 5.5 miles on CR 2450E to property on west side of road. Watch for signs.
USDA FSA Data: According to Douglas County FSA Office, Farm #6380 consists of 57.92 Total Farmland acres, 53.25 Cropland acres with 46.35 Effective DCP Cropland acres classified non-HEL. There are 6.9 acres of CRP filter strips with an annual payment of $2,070 ($300/acre) until September 30, 2027. Base acres of 23.97 for corn with a PLC yield of 178 and 22.38 acres for soybeans with a PLC yield of 55. Crop election choice is ARC-County for soybeans and PLC for corn.
Farm Lease: The farm is leased for the 2022 crop year in a 50/50 crop-share lease. Buyer will receive owner’s share of lease including all 2022 crop income and expenses. A reimbursement payment for 2022 crop inputs of $5,368 will be due to the seller at time of closing for the seller’s portion of this crop-share lease. This payment is for applied dry fertilizer, prepaid soybean seed, prepaid herbicide chemical and prepaid fungicide.
Wind Turbine Income: Rent payments on the wind turbine lease are made annually, within 45 days after the end of the calendar year. Buyer shall receive the 2022 rent payment and all future rent payments from the lease. The 2021 rent payment, received by the Seller earlier this year, was for $20,922.39. The lease provides that the rent payments each year, will increase by 2% from the prior year. For more information about the wind turbine lease, you may contact the Seller’s attorney, Robert Anderson (217-465-3535).
Real Estate Taxes: The 2020 real estate taxes paid in 2021 were $2,207.14. Note: The 2021 taxes due in 2022 will not include .57 acres where the wind turbine is located.
Auction Terms and Conditions
Auction Procedure: This property will be offered as one parcel on per acre basis times 60.0 acres, subject to the sellers’ acceptance.
Down Payment: Ten percent (10%) down payment on the day of the auction upon signing a purchase agreement immediately following the close of the auction. The remaining balance will be due on or before May 30, 2022 at the closing with delivery of deed. Property is being sold subject to any easements or right of ways of public record. Bidders should keep in mind that your bidding is not conditional to financing, so make certain that you have arranged financing if you need it.
Acceptance of bid prices: The successful bidder will be required to sign purchase agreement at the auction site immediately following the close of the auction. The final bid price is subject to the sellers’ acceptance or rejection.
Possession: Buyer will receive possession at the time of closing.
Title: Seller will provide title insurance on the property being offered in the auction. The Seller shall pay any search and closing costs that are customarily associated for a seller. The Buyer shall pay closing costs that are customarily associated with a real estate purchase. Upon full receipt of the entire purchase price, Seller shall deliver to Buyer a Deed conveying title in and to the property to the Buyer.
Real Estate Taxes: The Seller shall give the Buyer a credit for the 2021 real estate taxes at the time of closing based upon the most recently ascertainable tax figure available at closing. Buyer will assume and pay all real estate taxes payable in 2022 and thereafter. Note: The 2021 taxes due in 2022 will not include .57 acres where the wind turbine is located.
Mineral Rights: Buyer will receive mineral rights owned by the Seller.
Agency: Moss Auction Team and their staff are exclusive agents for the Sellers.
Representing Attorney: Robert Anderson of Anderson Law Offices in Paris, IL. 217-465-3535
Auction Company Note: Announcements on Sale Day take precedence over printed material or any other oral statement made.
Online Bidding Technology Use: Moss Auction Team is not responsible for technology failures and cannot be held liable if your online bids are not accepted. In the event of a technology failure, internet outage on our part or other technical difficulties related to the server, software, or any other online related technology, Moss Auction Team reserves the right to extend, continue or close bidding. Neither the software provider, nor Moss Auction Team shall be held responsible for a missed bid or failure of the software to function properly for any and all reasons.
Disclaimer and Absence of Warranties: The property is being sold on an “as is, where is, with all faults” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. Each potential buyer is responsible for conducting his or her own independent inspections, investigations and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. The auction procedure, conduct, and bid increments are at the direction and discretion of the Auctioneer. The Seller and the Auctioneer reserve the right to preclude any persons from bidding if there is any question as to the person’s credentials, fitness, etc. Auctioneer has final decision on all matters pertaining to this auction.
Seller: SF7579, LLC
MOSS AUCTION TEAM, LLC
Paris, IL 217-465-4545
Matthew Moss IL lic. #440.000148