127 Acres± – 1 Tract
Tuesday, November 7, 2017 at 10:00 A.M.
AUCTION VENUE: THE MOOSE LODGE, 1025 SOUTH STATE STREET, GENESEO, IL 61254
LOCATION & GENERAL INFORMATION
The Larson farm is located at the east edge of Osco, IL and is further described as being in section 28, T16N – R2E, Osco Township, Henry County, IL (Osco is located approx. 10 miles southwest of Geneseo, IL).
This investment-quality farm represents Class A tillable farmland with a PI of nearly 140!
- FSA figures should indicate 123.54 acres of cropland, of which, 120.54 acres are currently in row crop production.
- The remaining 3 acres of cropland (consisting of a well manicured waterway at the north end) are currently enrolled in CRP at a payment rate of $277.52 per acre for an annual payment of $833.00 The contract expires 9-30-2024.
- PI Rating: 139.6
- Productive soils include Muscatune, Osco, Radford, Buckhart & Denny
- Estimated real estate taxes: $5,045.84
- Access is along the south side by N 1300th Ave.
METHOD & TERMS
The Larson farm will be sold on a price per acre basis, based on 127 acres, more or less. There will not be a survey conducted; these acres are based on the existing legal description.
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 of the bid price. The balance of the bid price will be due in approximately 30 days, on or before Thursday, December 7, 2017. Title insurance in the full amount of the purchase price will be provided by the seller. The 2017 real estate taxes due and payable in 2018, will be paid by the seller. The 2018 and subsequent taxes will be paid by the buyer(s). Full possession will be given at the time of closing subject only to the current tenant’s 2017 crop lease. The farm sells free and clear for the 2018 crop year. The new buyer(s) will receive all 2018 CRP income and any future 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. Potential buyer(s) 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”.
Orville & Shirley Larson Charitable Trust
Lori Hedden – Assistant VP, F & M Trust Department – 21 E. Main St., Galesburg, IL
Simpson Peterson Law Office
246 E. Main St. suite #201, Galesburg, IL 61401
Ph: (309) 343-6152
Michael Sullivan (309) 333-0916
Luke Sullivan (309) 371-5214