IN-PERSON & ONLINE AUCTION: Richland County IL 160+- Acres / 5 Tracts / Dairy Farm Homestead / 2912A

IN-PERSON & ONLINE AUCTION: Richland County IL 160+- Acres / 5 Tracts / Dairy Farm / Homestead

Online Bidding Opens Thursday, September 21, 2023 

In-Person Bidding Thursday, October 12, 2023, 3 to 6 PM CST at Full Armor Christian Academy (5014 IL-130, Olney IL 62450)

Bidding Closes Thursday, October 12, 2023 at 6:00 PM CST

Property Inspection: Saturday, Sept 23, 10 AM-3 PM & Friday, Sept 29, 1-6 PM

Property Address: 2454 North Memphis Road, Olney IL 62450

All potential online bidders must register before auction, preferably 2 weeks ahead of auction close. All potential online bidders must personally call Auctioneer Donald Bailey at 618-919-1031. In the past bidders that wait until the last minute to register may stand a chance not being able to bid.

PLEASE NOTE: Below is a link for the auction sales contract that you will be required to sign. Please review it prior to bidding.

It is possible to purchase the entire property as a turnkey operation including dairy herd, equipment and Prairie Farms milk quota. Contact Auctioneer Don Bailey if interest or for more information.

SALES CONTRACT

DESCRIPTION

• Presently a fully operational dairy farm with milking facilities and equipment.
• Auction is listed as 5 tracts which does not include dairy cattle equipment or milk quota.
• Farmstead has modern home with air conditioning and heat.
• Parts of the farmstead have farm tile.
• Section 27, T3N-R14W

TRACT DESCRIPTIONS

Tract #1 - 41+- Acres

• 41+/- acres with 39 acres tillable / 2 acres in fence row and woods
• Frontage on Ebenezer Lane and N Memphis Road
• Property taxes approximately $9.00 per acre
• Nice laying tract for farming; tract is partially tiled and with the removal of 1 fence row it basically would make one large field.

Tract #2 - Homestead (Including Home and Buildings)

• Frontage on N Memphis Road
• Property taxes approximately $8,000
• Presently fully operational dairy farm; extremely well-kept home and buildings.

Tract #3 - 41+- Acres

• 41+/- acres with 17 acres tillable, 7 pasture acres, 16 acres wooded
• Frontage on N Memphis Road
• Property taxes approximately $9.00 per acre
• Tract offers pasture which could be farmed, tillable land and nice woodland. Has some drainage tile installed.
• Great location for home sites and lake

Tract #4 - 41+- Acres

• 41+/- acres with 20 acres tillable, 20 acres wooded
• Frontage on N Memphis Road
• Property taxes approximate $9.00 per acre
• Mixture of tillable and has some drainage tile installed
• Great location for home sites and lake

Tract #5 - 19+- Acres

• 19+/- acres with 5 acres tillable and 14 acres wooded
• Frontage on N Memphis Road
• Property taxes approximately $9.00 per acre
• Great home sites

BUILDING DESCRIPTIONS

• Click HERE for Building Descriptions

HOME DESCRIPTION

• Click HERE for Home & Room Descriptions

PROCEDURE FOR ONLINE BIDDERS

• Registration: Proper registration is required to bid. All bidders must provide name, address, phone number and email address to register.  By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Auctioneer reserves the right to refuse to register or admit Buyer at his/her sole discretion.
• Note: If you are unable to bid Online or are unsure about the reliability of your internet connection, call the Auctioneer and make alternative bidding arrangements by prior to close of auction.
• Bidding will be per tract – eBay-style/max bidding.
• Online Bidding opens Thursday, September 21, and will be available until 6:00 PM CST Thursday, October 12, 2023, subject to bid extensions (Soft Close). Combination tract bidding starts Thursday, September 28, at 10 AM.
• Bidding will be on a per tract basis . Minimum bid increments of $1,000 per Tracts 1, 3, 4 and 5. Minimum bid increments of $5,000 for Tract 2 with minimum opening bid of $200,000 for Tract 2.

TERMS AND CONDITIONS

NO BUYER'S PREMIUM.

YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.

SALE IS SUBJECT TO THE CONFIRMATION OF THE SELLERS.

PROCEDURE: Property offered in 5 tracts or combination of tracts.

SURVEY: See survey in Useful Documents section below.

MINERAL: Seller to convey all, if any.

CONTRACT AND DOWN PAYMENT: Contract for purchase to be signed within 24 hours of close of auction. A 10% down payment of the total contract purchase price will be due immediately after being declared the winning bidder. The down payment may be paid in the form of wire transfer and received within 3 business days. The balance of the contract purchase price is due at closing.

TITLE: Sellers shall furnish the Buyer(s) at Seller's expense marketable title in the form of Title Commitment, Title Insurance, a proper deed conveying merchantable title to the real estate to the buyer(s) and tax transfer stamps.  Buyer will pay the deed recording and fees associated with mortgage/financing. Title companies closing fee will be split equally by Buyer and Seller.

CLOSING: Closing shall occur within 45 days or as soon thereafter as applicable closing documents are completed. Seller shall pay for recording release from any mortgage. Buyer shall pay for recording the deed of conveyance from Seller and any mortgage title insurance charges. Any closing costs not herein provided for shall be borne by Buyer. Seller shall cause the Closing Statement to be delivered to Buyer at or before the closing.

POSSESSION: Possession 60 days after closing.

The information is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed the owners or Buy A Farm Land & Auction Co. LLC. 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 this property. Real estate is being sold "As Is, Where Is".

Any bid placed inside 5 minutes will extend the auction bidding another 5 minutes. This will continue until there are no more bids.

AUCTIONEER: Donald Bailey, IL Lic #441.002325