73.22 Acres± • 1 Tract
Monday, December 3, 2018 at 10:00 A.M.
Auction to be held at Sullivan Auction Site, 1.5 miles east of Hamilton, IL on Hwy 136.
LOCATION & GENERAL INFORMATION
The Mary Lu Zinn farm is located 2 miles east of Warsaw, IL along Hwy 96 & the Basco Blacktop. The farm is further described as being located in Section 18, T4N – R8W, Wythe Township, Hancock County, IL.
The Zinn farm represents productive tillable cropland, as well as income producing CRP acres!
- FSA figures indicate 62.48 acres of cropland, of which, 42.71 acres are currently in row crop production
- The remaining 19.59 acres of cropland are currently enrolled in (2) separate CRP contracts: 6.32 acres are enrolled at a payment rate of $185.95 per acre for a total annual payment of $1,175 through 9-30-2031; 13.30 acres are enrolled at a payment rate of $135.43 per acre for a total annual payment of $1,801 through 9-30-2022.
- PI Rating on row crop acres: 124.1
- Productive soil types include Keller, Ipava & Timewell
- Ideally located along Hwy 96 & the West Point Blacktop
METHOD & TERMS
The Zinn farm will be sold on a price per acre basis, based on 73.22 taxable acres. Immediately following the auction, the successful buyer(s) will be required to enter into a written purchase agreement with the seller and pay ten percent (10%) of the bid price. The balance of the bid price will be due at closing, on or before Tuesday, January 8, 2018. Bidding is NOT contingent upon financing. Title insurance in the full amount of the purchase price will be provided by the seller. The 2018 real estate taxes will be paid by the seller, with the 2019 and all subsequent years being paid by the new buyer. Possession will be given at closing subject to the current crop tenancy. The farms sells free & clear for the 2019 crop year. The new buyer will receive 100% of the 2019 and subsequent years’ CRP payments.
All announcements sale day shall take precedence over any prior advertising either written or oral. The information in this brochure is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to the property. This real estate is being sold “as is”.
Mary Lu Zinn Estate
Auction Manager: Michael Sullivan (309) 333-0916
Stephen B. Morris
Stephen B. Morris Law Office P.C.
1040 Broadway St., Hamilton, IL 62341
Ph. (217) 847-3711