Real Estate Auction - 110 AC + House/Bldgs - Beecher, IL | Chicago Hibid Portal

Public Real Estate Land Auction Sunday, November 10, 2024 @ 10:00 AM. 110± AC VACANT FARMLAND AND HOUSE/BUILDINGS ON 10± AC. **Offered as Two Individual Tracts** Auction Address: Beecher Amvets Post #67, 532 Gould St, Beecher, IL 60401. Property Address: 2124 W Church Rd, Beecher, IL 60401. Directions: Located 2-1/4 miles West of Dixie Hwy (IL-1) on Church Rd near Beecher, IL. The NE corner of Western Ave & Church Rd. FARMLAND TRACT -- 110± AC - SEC 7 - WASHINGTON TWP - WILL CO, IL. This Tract consists of 110± acres of level farmland adjacent to the Home & Buildings tract. The land is adjacent to State of Illinois Property for proposed future cargo-only airport. Located at the NE corner of Western Ave & Church Rd. Frontage on both Church Rd and Western Ave. Long Legal: PART OF THE NE1/4 SW1/4; PART OF THE SW1/4 SW1/4; PART OF THE SE1/4 SW1/4 OF SEC 7, TWP 33 NORTH, 14 EAST, WILL CO, IL. Crop Productivity Index: 118 48 Ac - Beecher Silt Loam 30 Ac - Ashkum Silty Clay Loam 16 Ac - Andres Silt Loam 9 Ac - Ozaukee Silt Loam 7 Ac - Other Two Pipelines Cross the Property. HOUSE & BUILDING PROPERTY TRACT -- 10± AC - BEECHER, IL This Tract consists of a House, Shop, Barn, Crib, Bins, and Outbuildings on 10 Acres. Address: 2124 W Church Rd, Beecher, IL 60401 Short Legal: PT SESW 7-33N-14E. Long Legal: PART OF THE SE1/4 SW1/4 OF SEC 7, TWP 33 NORTH, 14 EAST, WILL CO, IL. House: 2-Story 4-Bedroom, 2-Bath, Dining Room, Living Room, Kitchen, Utility Room, Partial Basement. Boiler Heating - No AC New Front Porch with Ramp Vinyl Replacement Windows Roof - 5 years old Natural Gas to Home on 1½" Line Well & Septic Buildings: Shop Building - 45x100 with 30x80 Lean-to/Add-on & overhead doors Barn - 42 x 66 with concrete & silo Crib - 31x40 Outbuilding1 - 20x40 Outbuilding2 - 21x48 2 Bins None of the property is located within a flood zone according to FEMA maps. Farmland Tract Maps: Survey – Aerial Map – Soils Map – Topography Map – Contours Map – Hillshade Map. House/Buildings Tract Maps: Survey – Aerial Map – Topography Map – Contours Map – Hillshade Map. Other Maps & Information: FEMA Map – Pipeline Map. Auction Terms: Announcements: Information provided herein was obtained from sources deemed reliable, but neither Richard A. Olson & Associates, Inc nor the Seller makes any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, its condition, and to rely on their own conclusions. All maps, dimensions, and acreage figures are approximate or “more or less”. Any announcements made on auction day by Richard A. Olson & Associates, Inc will take precedence over any previous printed materials or oral statements. Agency: Richard A. Olson & Associates, Inc and its representatives are acting as Agents of the Seller. Farm Lease: The farm lease will be terminated at the end of 2024 after Seller’s approval. The Seller retains Landlord’s share of the 2024 crops and shall pay Landlord’s share of the 2024 crop expenses. Taxes: 2024 Real Estate Taxes (due in 2025) will be credited to the Buyer(s) at closing. All future taxes will be the responsibility of the Buyer(s). Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold on an “AS IS-WHERE IS” basis with no warranties or guarantees, either expressed or implied, by the Seller or Richard A. Olson & Associates, Inc. Survey: Survey has been completed and is available on the website. Contract and Title: Immediately upon conclusion of the auction, the high bidder(s) will enter into a Seller’s real estate contract which provides all the terms and conditions. The Seller will provide title commitment in the amount of the contract price. Sale is not contingent upon Buyer(s) financing. Down Payment/Non-Refundable Earnest Money: The successful bidder(s) will be required to deposit $50,000 (for the Land tract) and 10% (for the House/Buildings tract) earnest money to be held by Seller’s Attorney in an escrow account and will be applied to the purchase price. 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. Closing: The closing shall take place forty (40) days after November 10, 2024, or as soon thereafter as applicable closing documents are completed. The anticipated closing date is on or before December 20, 2024. The balance of the purchase price must be paid by wire transfer to account of settlement agent. Possession: Possession will be granted on closing date. Sale Method: The real estate will be offered on a per acre basis. The LAND tract will be offered first, then the HOUSE tract. Bidding increments are solely at the discretion of the Auctioneer. No absentee or telephone bids will be accepted without prior approval of Richard A. Olson & Associates, Inc and Seller. Link to Internet Bidding: richardaolson.hibid.com. A 0.5% (1/2 of 1%) Buyer’s Premium applies to ONLINE bids only and will be added to the final bid. There is no Buyer’s Premium to in-person (live) bidders. There will be no combinations. Each Tract will be offered individually with Seller’s approval or rejection. Disclaimer: All decisions of the Auctioneer are final. Neither the Auctioneer nor the online bidding software and service provider shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Approval of Bids: Final sale is subject to the Seller’s approval or rejection. --------------------------------- SELLERS: Peterson Family Trust Sellers’ Attorney: Ruth Robinson – Amundsen Davis Law 308 West State Street, Suite 320 Rockford, Illinois 61101 815.904.8810 Auction conducted by Richard A. Olson & Associates, Inc. Dick Olson – Richard A. Olson & Assoc, Inc IL License #440.000585 531 Bedford Rd, Morris, IL 60450 (815) 942-4266 www.richardaolson.com