Will County, IL Real Estate Auction – Ritchie Grain

Friday, August 12, 2022 - 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

Location

Wilmington, Illinois

Physical Address: 34511 Elevator Rd, Wilmington, IL 60481

Seller

Ritchie Grain Elevator Inc.

Gary Rabideau

Managed By

Auction Manager: 

Brandt Henness (309) 224-4276

Location & General Information

After 75 years, the Rabideau family is retiring from the grain elevator business and selling 2 grain facilities located approximately 4 miles southeast of Wilmington, IL. Tract 1 contains nearly 3 million bushels of grain storage and is located just north of Ritchie, IL (west of Highway 102). Tract 2 contains nearly 1 million bushels of grain storage and is located in Ballou, IL (1 mile east of Highway 102). Both facilities have been meticulously maintained and offer tremendous opportunities for either commercial or farm grain storage.

Tract Information

TRACT 1 - RITCHIE FACILITY

  • Address: 34511 Elevator Rd, Wilmington, IL
  • 2,982,000 bushels total licensed space

  - 2 – 700,000 bu. Bins

. - 1 – 560,000 bu. Bin

. - 1 – 300,000 bu. Bin

. - 7 – 100,000 bu. Bins

  • Gamet Apollo 610A probe
  • 12’ x 60’ truck scale
  • 3 - dump pits
  • 12,000 bph corn receiving leg
  • 12,000 bph corn unload system
  • 2 – Meyer tower grain dryers (4,200 bph at 5%)
  • Dust control system (new in 2014)
  • Newton Grain cleaner
  • 2 – container loading augers
  • 1,500 square foot office building
  • Natural gas
  • Electric (Contract transfers to new owner and is valid through September 2025)
  • Updated fill conveyors to corn bins
  • Elevator Rd boarders along the north and west side

Improvements in 2004 – 2006 include:

  • 12,000 bph corn receiving leg
  • 1 – 560,000 bu. Brock bin
  • 2 – 700,000 bu. Brock bins
  • Fill conveyors to corn bins
  • 12,000 bph corn unload system
  • 2 – soybean unload pits

Improvements in 2019 include:

  • 1 – 10,000 bph receiving leg

TRACT 2 - BALLOU FACILITY

  • Address: 20520 W Ballou Rd, Wilmington, IL
  • 974,000 bushel total licensed space
    Includes 2 - 155,000 bushel bins and several 80-100,000 bushel bins
  • 10’ x 60’ truck scale
  • Newer probe and probe office
  • 3 - dump pits
  • 2 – Meyer tower grain dryers (3,800 bph at 5%)
  • 2 – 40’x100’ storage buildings with concrete floors
  • 45’x70’ storage building
  • 70’x220’ storage building
  • 40’x70’ heated shop
  • 3 – propane storage tanks- 1 - 1,000 gallon • 1 - 6,000 gallon • 1 - 12,000 gallon
  • New corn receiving pit and building
  • Updated dry leg and towers
  • West Ballou Rd boarders along the south side

Improvements in 2014 include:

  • New corn receiving pit and building
  • 155,000 bu. Brock bin
  • Dry leg and towers
  • Fill conveyors to corn bins
  • Electric service to the corn handling equipment

Plat of Survey

Aerial Tour

Method & Terms

Each tract will be sold individually for a “lump sum total dollar amount”.

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 September 9, 2022. The seller will provide title insurance in the full amount of the purchase price and pay the 2021 real estate taxes, due and payable in 2022. The 2022 real estate taxes will be prorated to the date of closing. Possession will be given at the time of closing.

Bidding is NOT subject to the following contingencies, including but not limited to financing, an appraisal 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 and all assets are being sold “AS IS”.

Tract 1 - Ritchie

Tract 2 - Ballou

Seller:

Ritchie Grain Elevator Inc.

Gary Rabideau - President

Jeff Rabideau - VP & Operations Manager

 

Representing Attorney:

Scott A. Roberts

Roberts Law Office, LLC

443 NE Pinehurst Circle, Ankeny, IA 50021

scott@srobertslawoffice.com | (217) 412-1004

 

Auction Manager:

Brandt Henness (309) 224-4276

Michael Sullivan (309) 333-0916