Hancock County, Illinois LAND & ACREAGE AUCTION
Niota, Illinois


Auction to be held at Hotel Nauvoo, 1290 Mulholland Street, Nauvoo, Il.

THURSDAY, JULY 12, 2018 AT 10 A.M.

Open House on Thursday, June 28^th from 10-11AM

82.05 Acres M/L – SELLS IN 2 TRACTS
(Subject to final survey)

Auctioneer’s Note: Steffes Group is honored to be chosen to sell the Gerhardt Trust land at public auction.  Tract #1 will be sold price per surveyed acre, while Tract #2 will be sold lump sum price.

Tract #1 – 66.05 Acres M/L – Subject to final survey

Tract #1 is located 2 miles south of Niota on County Road 1150.

FSA information: 68.39 acres tillable
PI Rating: 116.9
Productive soils include: Atterberry, Fishhook & Muscatune
Located in Section 23, Appanoose Township, Hancock County, Illinois.

Tract #2 – 16 Acres M/L – Subject to final survey

Tract #2 is located 1 ½ miles south of Niota on County Road 1150, to 2730 N County Road 1150.

If you are looking for a home in the country with buildings & pasture setup for  horses or livestock, this is your property!  This three bedroom home features over 1,550 sq. ft. of space on two levels.  The main level features an L shaped living room and a kitchen with new cabinets & French doors leading to the large deck.  There is also a ½ bath off of the kitchen.  The upstairs offers 3 bedrooms and a full bath. 

Other amenities of the home include natural woodwork throughout, several replacement windows and a steel roof.  The basement has a newer Water Furnace Envision geothermal heating & cooling system, washer/dryer hookups, well water, two electric water heaters, 150 & 100 amp breaker boxes.

Outbuildings include a 24’x28’ Carriage House with concrete floor, furnace & garage door, 45’x81’ machine shed, 42’x60’ machine shed, 16’x45’ open faced shed and a detached 26’x28’ two car garage.  Along with a fenced pasture with a pond & automatic waterer.  Excellent location on a hard surface road.  All situated on 16 acres M/L.

Not Included: Farm machinery, 3 horse stalls in machine shed, Hay feeders, Personal Property

Terms: 20% down payment on July 12, 2018. Balance due at closing with a projected date of August 27, 2018.  Personal check or cash is acceptable for down payment; balance shall be paid by cash, certified check or wire transfer. Full possession will be given at the time of closing, subject only to tenant’s rights on the tillable & pasture ground for 2018.  Title Insurance in the full amount of the purchase price will be provided by the seller. The 2017 real estate taxes, due and payable in 2018, will be paid by the seller. The 2018 real estate taxes will be prorated to the date of closing.  Possession will be given at the time of closing.  

Tract #1 sells subject to a cash rent crop tenancy on the tillable ground and 50/50 on the hay ground for the 2018 crop year. Buyer of Tract #1 will receive the second half of the 2018 cash rent.  Tract #2 sells subject to cash rent on the pasture ground.  Buyer of Tract #2 will have full possession of the home & outbuildings at closing, and will receive a prorate of the pasture cash rent at closing.   Immediately following the auction of the real estate, the successful buyer shall enter into a written contract with the seller.  Said contract will be available for review prior to the auction.

Special Provisions:

·        This is a 5% buyer’s premium auction.  This means the buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer(s) and added to the bid amount to arrive at the total contract purchase price.

·        Tract #1 is selling subject to tenant’s rights on the tillable ground and is rented for the 2018 crop year.  The current cash rent lease is based on 54 acres tillable at $250 per acre with a total annual rent of $13,500, with payments due on March 1 and November 1, 2018.  The buyer of Tract #1 will receive the remaining cash rent payment, which will be paid by the tenant to the buyer, as follows: $6,750 due November 1, 2018.  The hay ground is on a 50/50 basis, which is sold to the hay ground operator at fair market value.  Copies of said lease agreement are available for review.

·        Tract #2 is selling subject to tenant’s rights on the pasture ground and is rented through February 28, 2019.  Cash is rent is $700, which was paid on March 1, 2018.  At closing the buyer will receive a prorate of the pasture rent.  Copies of said lease agreement are available for review.

·        Termination has been served to both tenants.

·        It shall be the obligation of the buyer(s) to report to the Hancock County FSA office and show filed deed(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs.

·        All Tracts will be surveyed by a registered land surveyor and surveyed acres will be the multiplier for Tract #1.  Tract #2 will be sold lump sum price.

·        This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.

·        Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.

·        The buyer(s) shall be responsible for any fencing in accordance with Illinois state law.

·        The buyer(s) shall be responsible for installing his/her own entrances if needed or desired.

·        If in the future a site clean-up is required it shall be at the expense of the buyer(s).

·        This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.

·        The buyer(s) acknowledge that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer(s) are buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same.

·        Steffes Group, Inc. is representing the Seller.

·        Any announcements made the day of sale take precedence over advertising.

Ben & Clara Gerhardt Trust

Farmers & Merchants Bank & Trust – Trustee
Kelli S. Johnson – Trust Officer
221 Jefferson Street, Burlington, IA

Closing & Representing Attorney - Alyssa R. Stewart
Anderson, Roberts, Porth, Wallace & Stewart LLP
524 North Main Street, Burlington, IA 52601 - 319-754-7585

Tim Meyer: Illinois Licensed Auctioneer #441.001748 - Illinois RE Managing Broker #471.006809