DOUGLAS & COLES COUNTY, IL LAND AUCTION - FARMCO, INC.

Tract 1 – 80 taxable acres±

• FSA figures indicate approximately 79.94 NHEL cropland acres
• Productivity Index (PI): 137.3 (Class A)
• Soil types include Flanagan, Milford, Dana, Drummer, Octagon, Rutland and Raub
• Access along the south from E County Rd 300 N

Tract 2 – 99.4 taxable acres±

• FSA figures indicate approximately 98.59 NHEL cropland acres
• Productivity Index (PI): 137.2 (Class A)
• Soil types include Flanagan, Drummer, Rutland, Milford, Brenton, Raub, Clare and Mona
• Access along the south from E County Rd 300 N

Tract 3 – 80 taxable acres±

• FSA figures indicate 78.11 NHEL cropland acres
• Including 3.6 acres of CRP waterway with an annual payment of $1,080.00 through 9-30-2027
• Productivity Index (PI): 138.8 (Class A)
• Soil types include Drummer, Flanagan, Dana and Raub
• This tract has considerable amount of field tile
• Access along the east from N County Rd 1775 E and along the south from E County Rd 100 N

Tract 4 – 49.03 acres± (subject to survey)

• FSA figures indicate 46.87 NHEL cropland acres
• Including 1.43 acres of CRP well maintained waterway with an annual payment of $429.00 through 9-30-2027
• Productivity Index (PI): 134.3 (Class A)
• Soil types include Raub, Drummer, Toronto, Wingate and Dana
• Access along the west from N County Rd 1775 E and along the south from County Rd 1900 N

Tract 5 – 148 acres± (subject to survey)

• FSA figures indicate 143.14 NHEL cropland acres
• Including 3.2 acres of CRP well maintained waterway with an annual payment of $960.00
• Productivity Index (PI): 134.5 (Class A)
• Soil types include Raub, Drummer, Dana and Toronto
• Improvements include:
  • 40’ x 55’ storage building
  • 1 – 15,000 bushel grain bin
• Access along the south from County Rd 1900 N

Tract 6 – 104 taxable acres±

• FSA figures indicate 102.02 cropland acres
• Including 1.61 CRP acres of waterway with an annual payment of $483.00 through 9-30-2027
• Productivity Index (PI): 135.8 (Class A)
• Soil types include Drummer, Raub, Brenton, Dana and Clare
• Access along the south from County Rd 1900 N

Tract 7 – 143.46 taxable acres±

• FSA figures indicate 135.14 NHEL cropland acres
• Productivity Index (PI): 126.6
• Soil types include Drummer, Wingate, Martinsville, Brenton, Toronto, Xenia, Russell, Senachwine, Clare, Martinsville, Octagon, Harvard, Raub, Peotone and Sexton
• Improved with 1 grain bin
• Extensive tiling
• Access along the west from N County Rd 1975 E and along the south from E County Rd 70 N

Tract 8 – 72.1 taxable acres±

• FSA figures indicate 71.4 NHEL cropland acres
• Productivity Index (PI): 140.4 (Class A)
• Soil types include Flanagan, Drummer and Dana
• Pattern tiled
• Access along the east from N County Rd 900 E

Tract 9 – 77 taxable acres±

• FSA figures indicate 74.73 NHEL cropland acres
• Productivity Index (PI): 129.8
• Soil types include Dana, Drummer and Raub
• Improved with (1) 4,000 bu. and (1) 6,000 bu. bin
• Access along the west from Hwy 130

The FARMCO, Inc. land will be sold on a price per acre basis, based on the taxable acres, as reflected on the most recent tax bill. The FARMCO, Inc. land will be sold on a price per acre basis, based on taxable acres for tracts 1-3 and 6-9 and surveyed acres, which is currently underway and will be finalized before closing, on tracts 4 & 5. Tracts 1-7 will be offered through the marketing method of “Buyer’s Choice”, whereas the high bidder can elect (in any order) any or all tracts for their high bid. Buyer’s Choice of auctioning will continue until the first 7 tracts have been sold. Tract 8 will sell next followed by Tract 9. The tracts will NOT be offered in their entirety at the conclusion of the auction.

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 Thursday, February 1, 2024.

The seller will provide title insurance in the full amount of the purchase price, subject to the usual and customary exceptions. Seller will retain all of the 2023 income and government payments. Seller will pay all of the 2023 real estate taxes, due and payable in 2024, through a credit at closing, based upon the most recent real estate tax information available at the time of closing. New buyer(s) will be responsible for 2024 real estate taxes and beyond. Open lease for 2024 crop year and beyond. Possession at closing subject to the 2023 lease agreement.

Bidding is NOT subject to any contingencies, including, but not limited to financing, an appraisal, a survey, 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”.