Sold! $11,400.00 Per Acre
158.81 Acres • 1 Tract
TUESDAY NOVEMBER 7, 2017 @ 11:00 A.M.
AUCTION VENUE: THE MOOSE LODGE, 1025 SOUTH STATE STREET, GENESEO, IL 61254
Location & General Information
The Lippelt farm is generally located 3 miles south of Geneseo, IL along E. 1500th St. The farm is further described as being in the Southwest Quarter of Section 10, T16N • R3E, Munson Township, Henry County, IL.
Land represents productive tillable farmland, as well as farm buildings, on an all weather blacktop road.
- FSA figures should indicate 153.43 acres of cropland, of which 151.23 acres are currently in row crop production.
- The balance of the cropland acres, 2.2 acres consisting of well-maintained waterways, are enrolled in CRP at a payment rate of $196.00 per acre, for an annual payment of $432.00 through September 30, 2022.
- PI Rating: 120.2
- Productive soils include: Sylvan-Bold Complex, Greenbush, Osco, Buckhart & Muscatune.
- This tract is improved with a 60′ x 100′ machine shed, 26′ x 48′ metal building with sliding doors (used as a corn crib) & a grain bin w/ dryer.
- Access is along the south side by N. 1600th Ave. & along the west side by E. 1500th St. (all weather blacktop road).
Method and Terms
The Lippelt farm will be sold on a price per acre basis, based on 158.81 acres. 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.
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”.
Marlene Lippelt Farm
Carol Berger – Manager of L & C Lippelt, LLC
Lorraine Pope – Manager of L & C Lippelt, LLC
James Nepple – Trustee for Chris L. Lippelt Irrevocable Trust
Nepple Law, PLC
1515 Fifth Ave.
Moline, IL 61265
Phone (309) 732-1230