• 6+/- MILES NORTH OF WATSEKA • 5+/- MILES SOUTHEAST OF MARTINTON • PRODUCTIVE SOILS • NEARLY ALL TILLABLE • 158.93 CROPLAND ACRES PER FSA • SQUARE 160+/- -ONE FIELD • DITCH ON NORTHEAST BOUNDARY
LAND AUCTION OFFERED IN 3 TRACTS IN IROQUOIS COUNTY ILLINOIS
2400 N Rd Watseka IL 60970 - Iroquois County Illinois
Owner: The First Trust and Savings Bank, as Successor Trustee of the Laura Reynolds Barwick Testamentary Trust Thu, Feb 13, 11:00 AM CENTRAL
The First Trust and Savings Bank is pleased to announce that the sale of this farm will provide for the continuation of the Reynolds-Barwick Scholarship Fund, which provides scholarships to local students.
For qualified borrowers, special financing is available through The First Trust & Savings Bank.
Contact the Auction Manager for Information Booklet Including FSA, Soils and Other Due Diligence Materials!
OPEN HOUSE/INSPECTION DATES
Thursday January 23, 2025 from 2-4pm Central
Thursday January 30, 2025 from 2-4pm Central
Monday February 3, 2025 from 2-4pm Central
PROPERTY LOCATION
From the West side of Watseka at the West junction of US 24 and IL 1: take IL 1 North approximately 5-1/2 miles to 2400 N Rd (Pittwood Rd). Go East on 2400 N Rd for 2.1 miles to Tract 3 on the North side of the road. Continue East for Tracts 2 and 1. From the junction of US 52 and IL 1: about 1-1/2 miles South of Martinton: go South on IL 1 for approximately 2.2 miles to 2400 N Rd (Pittwood Rd). Go East on 2400 N Rd for 2.1 miles to Tract 3 on the North side of the road.
AUCTION LOCATION
Watseka Elks Lodge No. 1791- 111 N 3rd St, Watseka, IL 60970.
From downtown Watseka at the intersection of Walnut St (US 24) and
5th St (CVS on Northeast Corner): go West on Walnut St (US 24) for 2 blocks to 3rd St. Go North on 3rd St for 1/2 block to auction site on the West side of the street.
TRACT DESCRIPTIONS
Tract 1: 82± ac Productive farmland that is nearly all tillable except for the ditch in the Northeast corner and road on the South side. Nearly half of this tract is comprised of highly productive Selma loam and La Hogue loam soils. Borders ditch providing drainage outlet. Frontage on 2400 N Rd.
Tract 2: 39± ac Productive farmland that is nearly all tillable except for the road on the South side. Frontage on 2400 N Rd.
Tract 3: 39± ac Productive farmland that is nearly all tillable except for the road on the South side. Frontage on 2400 N Rd.
TRACT MAP(S)
AREA MAP(S)
PROCEDURE: The property will be offered in 3 individual tracts, any combination of tracts and as a total 160 +/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations, and the total property may compete.
DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashier's check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.
ACCEPTANCE OF BID PRICES: All final bid prices are subject to the Seller's acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.
DEED: Seller shall provide a Trustee's Deed(s) sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.
EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Seller's expense, an updated title commitment prior to closing. The cost of providing an Owner's Title Policy shall be paid for by Seller at closing.
CLOSING: The balance of the purchase price is due at closing. The targeted closing date will be approximately 30 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment and Seller's closing documents. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller. All lender costs shall be paid by the Buyer(s).
POSSESSION: Possession will be delivered at closing subject to rights of tenant for the 2024 crop.
REAL ESTATE TAXES: Seller shall pay all 2024 real estate taxes due and payable in 2025. Buyer shall assume any taxes thereafter.
ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on county tax parcel data, county GIS and/or aerial mapping.
SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction or where Seller otherwise determines a survey is appropriate. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Seller's option and sufficient for providing title insurance. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised and surveyed acres.
PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidder's safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.
EASEMENTS: Subject to any and all existing easements.
AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. All decisions of the Auctioneer are final.
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.