Productive, Well-Maintained Tillable Farm - 195.2 Acres

AuctionSold

195.2 Acres / Richland County, IL

Live Auction Location: Best Western Plus Parkside Inn & Suites

367 N West St.

Olney, IL 62450

https://g.page/bwpolney?share

For the first time in nearly 100 years, Pflaum Farms, located west of Olney, IL, will be offered to the public. Portions of these farms have been family-owned for over 150 years. 195.2 +/- productive acres will be offered in 5 tracts at public auction. Nearly 85% of all acres are income-producing, and average Soil PIs range from 96.6 to 100. Two of the tracts would make great building locations, one of which offers a nice one-acre pond.

Tract 1 consists of 13 +/- acres - pending a survey. This tract has approximately 5.9 tillable acres that adjoin North Midway Road. The east side is roughly 7.1 acres of mature hardwoods. There are multiple potential building locations in the open field or tucked away in the timber. The property does have access off Midway Rd.

Details:

Tract #: Tract 1

Deeded Acres: 13 +/- pending survey

FSA Farmland Acres: 6.81+/-

DCP Cropland Acres: ***170.28 acres

Soil Types: Wynoose Silt Loam

Soil PI/NCCPI/CSR2: 97

Base acres and Yield: ***Corn-109.96 acres/PLC Yield 112/Soybeans-54.86 acres/PLC Yield 36

CRP Acres/payment: No CRP

Taxes: Estimated $145.60

Lease Status: Open Tenancy for 2022 crop year

Possession: Immediate possession

Survey needed?: Survey needed

Brief Legal: Sec 1 T3N R9E Noble Twp Richland County

PIDs: Part of 10-01-200-006

Lat/Lon: 38.7239, -88.1562

***DCP acres, Base Acres and PLC yield are for all 5 tracts and will need to be recalculated at closing.

Tract 2 consists of 44.2 +/- mostly tillable acres - pending survey. The average PI is 96.6. The majority of the soil is Wynoose silt loam with some Bluford silt loam. There is access off North Midway Rd.

Details:

Tract #: Tract 2

Deeded Acres: 44.2 +/- Pending survey

FSA Farmland Acres: 43.8+/- FSA acres

DCP Cropland Acres: ***170.28 acres

Soil Types: Wynoose Silt loam, Bluford silt loam,

Soil PI/NCCPI/CSR2: 96.6

Base acres and Yield: ***Corn-109.96 acres/PLC Yield 112/Soybeans-54.86 acres/PLC Yield 36

CRP Acres/payment: No CRP

Taxes: Estimated $495.06

Lease Status: Open Tenancy for 2022 crop year

Possession: Immediate possession

Survey needed?: Survey needed

Brief Legal: Sec 1 T3N R9E Noble Twp Richland County

PIDs: Part of 10-01-200-006

Lat/Lon: 38.7232, -88.1549

***DCP acres, Base Acres and PLC yield are for all 5 tracts and will need to be recalculated at closing.

Tract 3 consists of 25 +/- tillable acres. The average PI is 97.2, with the majority of the soil type being Wynoose silt loam. This tract borders both Midway Rd and IL-250 and would make a nice investment property with electric, gas, and water all running along IL-250.

Details:

Tract #: Tract 3

Deeded Acres: 25

FSA Farmland Acres: 25.01

DCP Cropland Acres: ***170.28 acres

Soil Types: Wynoose silt loam, Bluford silt loam

Soil PI/NCCPI/CSR2: 97.2

Base acres and Yield: ***Corn-109.96 acres/PLC Yield 112/Soybeans-54.86 acres/PLC Yield 36

CRP Acres/payment: No CRP

Taxes: $289.52

Lease Status: Open Tenancy for 2022 crop year

Possession: Immediate possession

Survey needed?: No survey needed

Brief Legal: Sec 1 T3N R9E Nobile Twp Richland Co

PIDs: 10-01-400-001

Lat/Lon: 38.7212, -88.1564

***DCP acres, Base Acres and PLC yield are for all 5 tracts and will need to be recalculated at closing.

Tract 4 consists of 40 +/- acres and is located south of IL-250. It is approximately 29.67 tillable acres with an average PI of 98.1. The majority of the soil is Bluford silt loam, Passport silt loam, and Belknap silt loam. This property would also make a great building location with some utilities running along IL-250. There is a very nice pond on the southeast part of the tract, and access to this would be off Midway Rd.

Details:

Tract #: Tract 4

Deeded Acres: 40

FSA Farmland Acres: 29.67 +/-

DCP Cropland Acres: ***170.28 acres

Soil Types: Bluford silt loam, Passport silt loam, Belknap silt loam, Ava silt loam, Hickory clay loam,

Soil PI/NCCPI/CSR2: 98.1

Base acres and Yield: ***Corn-109.96 acres/PLC Yield 112/Soybeans-54.86 acres/PLC Yield 36

CRP Acres/payment: No CRP

Taxes: $495.12

Lease Status: Open Tenancy for 2022 crop year

Possession: Immediate possession

Survey needed?: No survey needed

Brief Legal: Sec 1 T3N R9E Nobile Twp Richland Co

PIDs: 10-01-300-009

Lat/Lon: 38.7168, -88.1606

***DCP acres, Base Acres and PLC yield are for all 5 tracts and will need to be recalculated at closing.

Tract 5 consists of approximately 73 +/- mostly tillable acres. The average PI is 97, with most of the soil being Belknap silt loam, Hoyleton silt loam, and Ava silt loam. Sugar Creek runs through the north third of the property, and the south line meets the CSXT Railroad ROW. This tract also has access off Midway road along the east side.

Details:

Tract #: Tract 5

Deeded Acres: 73

FSA Farmland Acres: 60.3 +/-

DCP Cropland Acres: ***170.28 acres

Soil Types: Belknap silt loam, Hoyleton silt loam, Ava silt loam, Hickory clay loam, Passport silt loam

Soil PI/NCCPI/CSR2: 97

Base acres and Yield: ***Corn-109.96 acres/PLC Yield 112/Soybeans-54.86 acres/PLC Yield 36

CRP Acres/payment: No CRP

Taxes: $939.36

Lease Status: Open Tenancy for 2022 crop year

Possession: Immediate possession

Survey needed?: No survey needed

Brief Legal: Sec 12 T3N R9E NW ALL E/2 NW N OF RR

PIDs: 10-12-100-002

Lat/Lon: 38.7121, -88.1143

***DCP acres, Base Acres and PLC yield are for all 5 tracts and will need to be recalculated at closing.

  • Bidders may participate in the auction on-site or online at Ranchandfarmauctions.com

  • Onsite bidders should bring a government-issued ID

  • 10% down payment immediately after auction - cash, personal, or business checks accepted

  • If the winning bid is online, you will be immediately contacted to make arrangements for the 10% down payment and a purchase contract will be sent via DocuSign

  • High bidder has 30 days to close unless otherwise noted

  • Announcements on auction day will take precedence over any prior announcements

  • This is a no contingency sale and is not subject to financing or additional inspections

  • Possession at closing, subject to tenant’s rights, if any

  • If a survey is needed it will be done following the auction and the total purchase price will be adjusted to the surveyed acres

  • All information provided is derived from sources believed correct but is not guaranteed or warranted - Bidders shall rely entirely on their own information and judgments

Auction Location:
367 N West St, Olney, IL 62450
Auction Type:
Reserve
Auction Date:

Auction Documents

Real Estate Auction Terms and Conditions

Terms Of Sale

Thank you for participating in this auction. Please familiarize yourself with the terms and conditions as all sales are final and irrevocable. The terms of sale are non-negotiable. Good luck and good bidding!

Registration at the auction (online and/or in person) finalizes each bidder's agreement to the terms and conditions of sale as stated in the Contract and its Addenda which are incorporated by reference into your bidding. Do not bid until you have read and agree to the terms and conditions. By bidding you are representing that you have read and agree to be bound by the terms and conditions for this sale as stated herein. DO NOT BID unless you have registered, received a Bidder's Card or paddle number and have read and agreed to be bound by the terms of sale in the Contract as they are enforceable against you upon becoming a high bidder. The successful bidder will be required to execute a Sales Agreement at the conclusion of the auction and submit the appropriate down payment in a timely manner as instructed by the Auctioneer.

All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale. The Broker and Auction Company represent the seller only and do not inspect properties on the bidder's behalf. Read the Contract and Auction Day Notes to determine the existence of any disclosures, exclusions, representations and disclaimers. Do not bid if you have not inspected the property(ies). By bidding you agree to all disclosures.

Buyers receive a deed and Title Insurance Policy as provided by the Closer indicated in the Contract (any mobile/manufactured housing not legally affixed to the property shall only be conveyed by a Hold Harmless Agreement or Quitclaim Bill of Sale unless otherwise noted in the Disclosures). The current year's taxes are prorated through the day of closing as is customary unless otherwise noted or announced on sale day.

Or in abstract states, the seller shall provide a continuation of the abstract of title thru the date of sale for the buyer or buyers attorney to examine.

The sale of this property may be subject to a Buyer's Premium, which will be added to the high bid and included in the total purchase price. Please see the Auction Day Notes, The Contract for Sale, and/or the Auctioneer for specifics about the property you wish to bid on.

Tracts sold by the acre - The contract will indicate the current acreage, bid per acre and the high bid will be the current acreage multiplied by the high bid per acre. If a survey is required prior to closing that would result in a change to acreage, the contract will be adjusted to that acreage prior to closing and the purchase price will reflect that change in acreage.

If a survey is required, it is typically done immediately following the auction. The per acre bid at auction will then be multiplied by actual surveyed acres to determine the final sales price at closing. The purchase agreement and sales day announcements will identify the party responsible for survey cost.

Each high bidder must sign a purchase agreement and make a 10% non-refundable deposit immediately following the auction to the designated Title Company or escrow agent noted on the Purchase Agreement. Cash, wire transfers, cashier's checks, personal checks and business checks (electronically processed) are accepted. For online only auctions, wire transfers are the preferred method for deposits. Wire instructions will be sent from the escrow agent or title company at the conclusion of the auction or the next day. The balance of the purchase price and all closing costs are due within 30 days unless otherwise noted or announced.

Bidding starts at the nominal Opening Bid(s) indicated and is open to the public. The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate or break down lots and/or quantities offered, to sell out of scheduled sequence, to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding, to accept or reject any or all bids, and to cancel or reschedule an auction. The Auctioneer will call the sale and control any increments of bidding. To make a bid, raise your hand or Bid Card to be recognized. The bidding happens quickly. Absentee bids may be accepted at the discretion of the Auctioneer. The Auctioneer reserves the right to enter bids on behalf of absentee bidders. Any mistakes during bidding as to who has the high bid and/or at what price may be called to the Auctioneer's attention and corrected. The Auctioneer is the sole arbiter and controller of the conduct of the auction and shall be the final and absolute authority without liability to any party.

For online only sales, click the “Bid Now” button to enter your bid. Be sure to create an account and sign in early so you do not miss the opportunity to bid. You can also enter a maximum bid to allow for bids to be increased by the noted increments up to your high bid. If you cannot log in, feel free to call (217) 922-0811 to reach customer service to register and bid by phone.

Your inspection of the property(ies) and attendance at this auction are at your own risk. Broker and Seller, their agents and employees, expressly disclaim any "invitee" relationship and shall not be liable to any person for damage to their person or property while in, on or about these properties, nor shall they be liable for any defects, dangers or conditions on the property(ies). All persons enter the property(ies) and attend the auction at their own risk and shall defend, indemnify, and save harmless Broker and Seller, their agents and employees, from any and all liability attendant thereto.

All auctions are subject to court or seller approval unless otherwise noted as “Absolute”. Most sales are approved within 2 business days. Buyers are not allowed possession until closing and filing of the deed, at which time the property should be re-keyed if required. If for any reason the court or Seller approval is not granted, the Down Payment shall be returned in its entirety to the high bidder. "Showing" requests from Buyers after the auction may not be able to be accommodated.

If more than one property is being auctioned, the Auctioneer may choose to offer a group of the properties for auction at the same time. This is called "BUYER'S CHOICE" and is to accommodate buyers who have an interest in more than one property and/or have 2nd and 3rd choices if they are outbid for a favorite property. Upon winning the bid, please choose which property, or properties, you want. You pay the high bid price for each property selected. Each sale is final and stands alone. Remaining properties are then offered in another round of bidding. Anyone may bid at any time, including prior High Bidders.

Ranch & Farms Auctions, LLC, Whitetail Properties Real Estate, LLC and the Seller expressly disclaim any liability for errors, omissions or changes regarding any information provided for these sales. Please read the Contract and Auction Day Notes for a full and complete understanding of any and all disclaimers. Bidders are strongly urged to rely solely upon their own inspections and opinions in preparing to purchase property and are expressly advised to not rely on any representations made by the Seller or their agents and employees. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it.

The information contained within is believed to be accurate, but Seller and Auction Company do not warrant any information contained within the description. All lines on maps are approximate and buyers should verify the information. All stated measurements including but not limited to acreage, sq footage, map dimensions, and/or sketches are stated for marketing purpose only unless it is stated that the measurements are verified by an independent surveyor or other source. All measurements shall be assumed to be approximate or more/less and obtained from sources to be considered reliable such as: government tax records, mapping software, assessor’s office records or FSA maps. Legal descriptions may be subject to existing fence/field boundaries. No warranty is expressed or implied as to the exact acreages of property. The purchase price based on these measurements entered on the purchase agreement is final unless buyer and seller have agreed otherwise in writing prior to signing. If exact acreage or square footage is a concern, the Property should be independently measured.

All sale day announcements will take precedence over any and all prior advertising or announcements.

Broker Participation

Buyers Agents who register a winning bidder at this auction may receive a Buyer Broker Participation Fee. Please call for more details. Be advised, not all auctions offer a Buyer Broker Participation Fee.

Disclaimer:Online Bidding

Disclaimer: Online Bidding

Please review the following disclaimer regarding online bidding for our auctions:

Internet Service: Bidder acknowledges that Auction Company, auctioneer, broker, or any other party

involved cannot be held responsible for any issues related to internet service before or during the auction.

Auction Company, auctioneer, and broker do not guarantee the seamless transmission or receipt of bids

placed online in a timely fashion.

Delays and Failures: Bidders should be aware that internet bidding is prone to delays and potential

failures that are beyond the control of the auction company. Bidder acknowledges and agrees that

Auction Company, auctioneer, and broker cannot be held liable for any interruptions or disruptions during

the online bidding process.

Auction Suspension or Cancellation: The Company reserves the sole discretion to suspend, postpone, or

cancel the auction if the internet service is unstable or disrupts the online portion of the event. Such

decisions will be made in the best interest of all participants.

Auctioneer's Discretion: The auctioneer has the sole discretion to accept or refuse any bid. The Auction

Company, auctioneer, and broker may also change the sale order, regroup items, or modify the auction as

needed, without prior notice.

Timely Bidding: Online bidders are encouraged to use the max bid feature and place their bids in a timely

fashion. Waiting until the last minute to place a bid may result in the auctioneer recognizing another high

bidder because your bid may not instantaneously show up.

By participating in the online bidding process, you agree to the terms outlined in this disclaimer. You

release Auction Company, auctioneer, broker, and their employees from any claims, losses, or damages

resulting from interruptions, disruptions, or failures related to online bidding.

Please carefully review and understand the terms and conditions provided by the auction company before

participating in the online bidding process.

Auction Type

Reserve

Licensing

WHITETAIL PROPERTIES REAL ESTATE LLC DBA RANCH & FARM AUCTIONS

Debbie S. Laux, Illinois Broker, License # 471.018541

Joe Gizdic, Director, Ranch & Farm Auctions, 217.299.0332

Adam Crumrin, Illinois Land Specialist, Whitetail Properties Real Estate, LLC, 217.276.2334

Cody Lowderman, IL Auctioneer, 441.001255