Due to unforeseen title issues this auction has been postponed. Watch for future auction date.
Niota, IL Located 1 mile south of Niota on North County Road 1120, then 1.3 miles on East County Road 2770, then 0.1 mile south on North County Road 1280 to 2766 North County Road 1280.
Bidding Opens: Thursday, November 2nd Bidding Closes: Thursday, November 9, 2023 at 1PM
Open House on Thursday, October 26th, from 1-2PM
61.57± Surveyed Acres – Sells in 2 Tracts
Prime Class A Illinois Land! Selling Free and Clear for 2024 Farming Season.
Auctioneer’s Note: Attention farmers and investors, here is your opportunity to purchase prime Class A land in Hancock County, IL. Tract 1 offers tillable land with a PI rating of 134.4. Tract 2 is a country acreage with a 3 bedroom home or it could be a beautiful location to build your dream home. Come to the open house then bid your price on these two tracts!
Included: Refrigerator, Stove, Washer, Dryer, Any item present on the day of final settlement/closing. Not included: Livestock gates & fencing, All personal property.
Terms: 10% down payment of the purchase price on November 9, 2023. Balance of the purchase price due at closing with a projected date on or before December 11, 2023. Personal check, ACH, wire transfer or cash is acceptable for down payment; balance shall be paid by cash, certified check or wire transfer. Title Insurance in the full amount of the purchase price will be provided by the Seller. The Seller will retain all of 2023 income and will pay all of the 2023 real estate taxes, due and payable in 2024. This will be credited at closing. Selling free and clear for the 2024 farming season. Possession will be given at the time of closing, subject to tenant’s rights on the tillable land, full possession of the tillable land will be given upon the removal of the fall harvest. Immediately following the auction of the real estate, the successful Buyer shall enter into a written contract with the Seller, this shall take place through email & electronic document signatures. Said contracts will be available for review prior to the auction.
Special Provisions:
This online auction will have a 5% buyer’s premium. This means a buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.
Tracts will be tied together with the bidding set to close simultaneously. If a bid is placed with less than 4 minutes left, the time on the auction will extend another 4 minutes. This will continue until no bids are placed within the last 4 minutes. Each Tract will stay in bidding extension until there are no more bids placed on any of the Tracts that are tied together.
Down payment is due on the day the bidding closes and signing of the contracts will take place through email and electronic document signatures. In the event the auction bidding closes after 3:00pm, the earnest money will be due the following business day.
Tillable land is selling free and clear for the 2024 farming season.
It shall be the obligation of the Buyer to report to the Hancock County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs.
Both tracts will be surveyed by a licensed surveyor.Tract 1 will be sold by the acre with gross surveyed acres being the multiplier for said tract.Tract 2 will be sold lump sum price.In the event the final survey is not completed by auction day or if the recorded survey is different than the announced gross surveyed acres, adjustments to the final contract price will be made accordingly at closing only on Tract 1, where the gross surveyed acres were used for the multiplier.No adjustments will be made on Tract 2, as it is selling lump sum price.
Rural water on Tract 2 is currently shared with an adjacent property across the road.The Buyer will allow the adjacent property owner one year to have a new rural water pit installed on the adjacent property, with no reimbursement of water use to the Buyer.
If Tracts 1 & 2 are separate buyers, a right to repair tile easement will be established on Tract 2, in favor of Tract 1 for tile outlets that drain onto Tract 2.
Any inspections, upgrades, repairs, maintenance or other matters to the septic system will be at the Buyer's expense, if required by law.
This real estate auction is selling subject to final approval of the survey and subdivision requirements of the city & county.
If one Buyer purchases more than one tract, the Seller shall only be obligated to furnish one abstract and deed (husband & wife constitute one buyer).
This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited.
Closing will take place at Seller’s closing attorney office or a professional closing company agreeable to both Buyer and Seller.Closing Agent Fee will be shared equally between Buyer and Seller.
The Buyer shall be responsible for any fencing in accordance with state law.
If in the future a site clean-up is required, it shall be at the expense of the Buyer.
All mineral rights, if any, held by Seller will be transferred upon closing.
This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
All lines, drawings, boundaries, dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Broker or Auctioneer, their Employees or Agents.
The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
Steffes Group, Inc. is representing the Seller.
Any announcements made the day of sale take precedence over advertising.
Seller: The Heirs of Cleta Beimer – Farm locally known as the Hogan Family Farm Representing Attorney for Seller: Richard Fehseke III of Fehseke & Gray Law Offices
For more information contact Tim Meyer of Steffes Group Inc. at 319.385.2000 or 319.750.1233 Tim Meyer: Illinois Licensed Auctioneer #441.001748 - Illinois RE Managing Broker #471.006809
