Lee County, IL Land Auction – Lauer
Monday, October 25, 2021 - 1:00 pm Central
Auction to be conducted as a virtual, online auction. If you need assistance with internet bidding, please contact our office at (844) 847-2161
Lee County, Illinois
The Lauer family farm is located just west and south of Sublette, IL, or approximately 10 miles northwest of Mendota, IL.
Tracts 1, 2, 3, 4, and 6 are further described as being located in Sections 20, 21, 28 & 29 and Tract 5 is located in Section 9, all in T19N – R11E, Sublette Township, Lee County, IL.
Kathleen H Lauer Family Trust
Brenda Haynes & Martin Lauer, Co-Trustees
Restatement of The Declaration of Trust of Elroy R Lauer
Linda Dimmig, Trustee
Kevin Haas (309) 264-7767
504.06 Acres ± (Subject to Survey) • Selling as 6 Tracts
Farmers and investors, be sure to check out this land which has had the best of care!
The entire farm is currently being surveyed and the advertised acres are estimated at this time. If the survey is not completed by the auction date, the acres stated on the purchase contract will be estimated. Final acreage adjustments will be made at closing based on the survey results.
Bidding Now Live – Place Your Bids!
Tract 1 - 100 Acres± (Subject to Survey)
- FSA records indicate 98.75 NHEL cropland acres
- Soil Productivity Index: 140.8 (Class A)
- Soils include Sable, Catlin, Osco & Muscatune
- Access along the north side from Todd Rd
Tract 2 - 80 Acres± (Subject to Survey)
- FSA records should indicate approximately 78.2 cropland acres (split field)
- Soil Productivity Index: 141.8 (Class A)
- Soils include Osco, Sable & Muscatune
- Access along the west side from Penkins Rd and along the south side from Todd Rd
Tract 3 - 80 Acres± (Subject to Survey)
- FSA records should indicate approximately 79.4 cropland acres (split field)
- Soil Productivity Index: 137.9
- Soils include Osco, Muscatune & Sable
- Access along the south side from Todd Rd
Tract 4 - 73.5 Acres± (Subject to Survey)
- FSA records should indicate approximately 67.4 cropland acres (split field)
- Soil Productivity Index: 128.6
- Soils include Catlin & Sable
- Access along the south side from Todd Rd
Tract 5 - 168.36 Acres± (Subject to Survey)
- FSA records indicate 168.22 NHEL cropland acres
- Soil Productivity Index: 141.6
- Soils include Muscatune, Osco & Greenbush
- Access along the north side from US Hwy 52, along the east side from Inlet Rd, and along the south side from Sublette Rd
Tract 6 - 2.2 Acres± (Subject to Survey)
Equipment Storage Structures
- 72' x 162' pole construction machine shed built in 2018 with 16' sidewalls.
- 54 x 72 shop area has a concrete floor with drain, insulated, finished interior, excellent lighting, and is ready for heat.
- 72 x 108 cold storage area with gravel floor and lights.
- 89,000 bu total capacity
- (2) 120' tall grain legs
- 2,700 bu/hr east leg capacity
- 5,800 bu/hr west leg capacity
- 1,200 bu/hr Zimmerman tower dryer.
- 10,500 bu wet bin
- Dump pit & control shed
Grain/Equipment Support Items
- (3) 1000 gal LP tanks for grain dryer
- (1) 500 gal LP tank for shop (never used)
- (4) 500 gal fuel tanks with pumps
TRACT 6 INSPECTION
MONDAY, OCTOBER 18 FROM 4:00 - 5:00 P.M.
Most recent real estate tax information
METHOD & TERMS
All tracts will sell on a price per acre basis, based on the surveyed acres. Tract 6 will be surveyed but sell for a lump sum or total dollar amount. Tracts 1, 2, 3, 4 & 5 will be offered through the marketing method of “Buyer’s Choice,” whereas the high bidder can elect (in any order) any or all of the tracts for their high bid. Buyer’s Choice will continue until all 5 tracts have been selected. We will then sell Tract 6 (grain facilities and farm outbuildings) for a lump sum total dollar amount. The tracts will NOT be offered in their entirety at the conclusion of the auction.
Immediately following the auction, the winning bidder(s) 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 the time of closing, on or before November 30, 2021. Bidding is NOT subject to the following contingencies, including but not limited to: financing, appraisal, or inspection. Possession of tracts 1, 2, 3, 4 & 5 will be given at the time of closing, subject to the current crop tenancy for the 2021 crop year only. Possession of Tract 6 will be given at time of closing. Once the 2021 crop is harvested and after closing, the new buyer will have all rights to the property. All cropland tracts sell with full farming rights for the 2022 planting season. Title insurance in the full amount of the purchase price will be provided by the seller. The 2021 real estate taxes, due and payable in 2022, will be paid by the seller, with the 2022 and all subsequent real estate taxes to be paid by the buyers.
All announcements made sale day take precedence over 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 made by seller or Sullivan Auctioneers, LLC pertaining to this property. Real estate is being sold “AS IS”.
Michael S. Guilfoyle
Guilfoyle & Stevenson LLP
1316 Meriden Street
Mendota, IL 61342