180 Acres ± • 2 Tracts
MONDAY, NOVEMBER 4, 2019 AT 10:00 A.M.
AUCTION VENUE: Towanda Community Building, 103 Jefferson St, Towanda, IL 61776
Location & General Information
The Armstrong farm is located approximately 2 miles northeast of Bloomington, IL and is further described as being located in Section 15, T24N•R3E, Towanda Township, McLean County, IL.
Tract 1 represents productive, tillable farmland. Tract 2 represents a combination of tillable acres, pasture & potential building sites.
Both farms sell free & clear for the 2020 crop year.
Tract 1 – 120 Acres± (Subject to Survey)
• FSA figures indicate 117.64 acres of NHEL cropland
• PI Rating: 138.6 (Class A)
• Soil types include Ipava, Catlin, Sable, Flanagan, Saybrook, Radford, Sawmill & Osco
• There is a small draw in the northeast corner of this tract
• Access is along the west side by County Rd 2100E
Tract 2 – 60 Acres± (Subject to Survey)
• FSA figures indicate 37.03 acres of NHEL cropland
• PI Rating on tillable acres: 137.3 (Class A)
• Soil types include Ipava, Catlin, Sable, Birkbeck, Radford & Sable
• The remaining approx. 23 acres represent pasture with many mature trees providing excellent shade.
• The pasture has perimeter fencing and is currently being used for beef cattle.
• This tract is improved with an older barn & corn crib.
• Several possible building sites offer a great view of the farm, and with close proximity to Bloomington-Normal, the possibilities are endless.
• Access is by way of an existing gravel lane from County Road 2100E. This gravel road will be owned by Tract 2 and is NOT an easement.
• Sellers reserve the right to salvage wood and materials from the existing barns on Tract 2 for up to 6 months after the closing date. All items will be removed at the expense of the sellers.
Method & Terms
Both tracts are currently being surveyed and will sell on a price per acre basis. The tracts will be sold individually, and will NOT be offered in their entirety, or any other combinations at the conclusion of the auction.
Immediately following the auction, the successful buyer 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 the time of closing on or before Wednesday, December 4, 2019. Bidding is NOT contingent upon financing. Title insurance in the full amount of the purchase price will be provided by the seller. The 2019 real estate taxes, due and payable in 2020, will be paid by the seller. The 2020 & subsequent real estate taxes will be paid by the buyer(s). Possession will be given at the time of closing, subject only to the current tenant’s farm lease. The farm sells free & clear for the 2020 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. 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”.
James J. Armstrong Trust
Craig M. Armstrong – Trustee
Representing Attorney: Jeffrey L. Terry
Schmiedeskamp Robertson Neu & Mitchell LLP
525 Jersey ׀ Quincy, Illinois 62301
O: 217.223.3030 ׀ F: 217.223.1005
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Auction Manager: Kevin Haas (309) 264-7767