Iroquois County, IL Land Auction – Smith

Wednesday, November 24, 2021 - 10:00 am 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

SOLD!

TRACT 1 – $12,800 PER ACRE

TRACT 2 – $13,300 PER ACRE

TRACT 3 – $13,000 PER ACRE

TRACT 4 – $12,500 PER ACRE

 

TOTAL – $3,100,005.00

Location

Iroquois County, Illinois

The Morris Smith Estate family farms are located a short distance northwest, west and south of Onarga, IL (Onarga is approximately 30 miles south of Kankakee, IL or 40 miles north of Champaign). Tracts 1, 2 & 3 are further described as being located in Sections 13 & 23, T26N-R10E, West Onarga Township, and Tract 4 is in Section 6, T25N-R14W, East Onarga Township, Iroquois County, IL.

Seller

Morris Smith Estate

Kevin L. Smith

Scott O. Smith

Wanita F. Thompson

Managed By

Kevin Haas (309) 264-7767

John Sullivan (309) 221-6700

General Information

The land contains a total of 239.37 taxable acres and will be offered in 4-tracts. The tracts are high producing, nearly all-tillable cropland farms located along or close to I-57 and also offer commercial development opportunities.

tract information

Tract 1 - 65.11 Taxable Acres
  • FSA records indicate 66.63 NHEL cropland acres (over 100% tillable)
  • Soil Productivity Index: 124.7
  • Soil types include Selma, La Hogue and Milford
  • Road access along the north side from County Road E1600 N (I-57 borders on the east side)
  • Buyer to reimburse seller, in the amount of $11,732.62, for 2021 fall applied fertilizer (Click Here for copy of invoice)

Tract 2 - 67.19 Taxable Acres

  • FSA records indicate 67.96 NHEL cropland acres (100% tillable)
  • Soil Productivity Index: 117.1
  • Soil types include Selma, La Hogue, Spart & Ridgeville
  • Road access along the north side from County Road E1500 N and along the east side from N500 E
  • Tract 2 lies just north of the St Rt 54/I-57 interchange and offers commercial development potential

Tract 3 - 69.19 Taxable Acres

  • FSA records indicate 66.41 NHEL cropland acres
  • Soil Productivity Index: 119.2
  • Soil types include Selma, La Hogue, Spart & Ridgeville
  • Road access along the south side from St Rt 54 and along the east side from County Road N500 E
  • Tract 3 lies just north of the St Rt 54/I-57 interchange and offers commercial development potential

Tract 4 - 37.88 Taxable Acres

  • FSA records indicate 38.92 NHEL cropland acres - (over 100% tillable)
  • Soil Productivity Index: 129.6
  • Soil types include Martinton and Milford
  • Road access along the north side from County Road E1200 N and along the east side from 800 E
  • Buyer to reimburse seller, in the amount of $4.501.77, for 2021 fall applied fertilizer (Click Here for copy of invoice)

Real Estate Tax Information

Tract 1
PIN 22-13-200-001 - 65.11 acres - $1,848.10
Tract 2
PIN 22-23-200-008 - 67.19 acres - $1,711.62
Tract 3
PIN 22-23-200-009 - 69.19 acres - $1,875.08
Tract 4
PIN 31-06-200-001 - 37.88 acres - $1,129.80

Method & Terms

All 4-tracts will be sold by the acre based on the taxable acres and offered through the marketing method of “Buyer’s Choice” whereas the high bidder can purchase (in any order) any or all of the tracts for their high bid. “Buyer’s Choice” auctioning will continue until all 4 tracts have been elected. The tracts will not be offered in their entirety at the conclusion of the auction.

Immediately following the auction, the successful buyer(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 closing which will be on or before December 27, 2021. Possession will be given at the time of closing subject to any remaining 2021 farm leases. All tracts sell free and clear of tenancy for 2022.

The sellers will provide title insurance in the full amount of the purchase price and pay the 2021 real estate taxes, due and payable in 2022.

Bidding is NOT subject to the following contingencies, including but not limited to financing, appraisal or inspection.

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 the seller or Sullivan Auctioneers, LLC pertaining to this property. Real estate is being sold “AS IS”.

Aerial Tour

Plat Map

Aerial Maps

SOIL MAPs

FSA Information

Photos

Morris Smith Estate

Kevin L. Smith

Scott O. Smith

Wanita F. Thompson

 

Representing Attorney:

William L. Siebers

Scholz, Loos, Palmer, Siebers & Duesterhaus, LLP

625 Vermont, Quincy, IL 62301

(217) 214-1909