Lee County Land Auction 323.65 Acres M/L Tuesday, December 12th, 2023 10:00 AM Central Seller: Thomas M. & Dorothy A. McNeilly and The Ronald D. McNeilly Trust Auction Location: Paw Paw Community Center 362 Chicago Road Paw Paw, IL 61353 Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide a slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform. Auction Method: The four tracts will be offered via Public Auction and will take place at 10:00 AM at the Paw Paw Community Center in Paw Paw, Illinois. The four farmland tracts will be sold on a per-acre basis and offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take one, two, or any combination of tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all farmland tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety after the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available. Tract 1: 85.4 Acres M/L Tract 2: 69.0 Acres M/L Tract 3: 90.0 Acres M/L Tract 4: 79.25 Acres M/L Farm Program Information: Farm Program Information is provided by the Lee County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Lee County FSA and NRCS offices. Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of a check or wire transfer. All funds will be held in the Advocus National Title Insurance Company Trust Account. Closing: Closing will occur on or before Wednesday, January 30th, 2024. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer. Possession: Possession of the farm will be given At Closing, Subject to Tenant's Rights. Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Advocus National Title Insurance Company the required earnest money payment. The Seller will provide a current title commitment at their expense. The sale is not contingent upon Buyer financing. Farm Lease: The lease has been terminated and the farms are open to farm for the 2024 crop season. Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction. Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction. Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an “As is – Where is” basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final. Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her investigation of the property before bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from Title Commitment.
Lee County, Illinois Farmland Auction! Offering 323.65 acres m/l of high-quality farmland located near Paw Paw and available in four tracts. The auction will take place at 10:00 AM on Tuesday, December 12, 2023, at the Paw Paw Community Center. These farms are situated in a strong farming area with excellent investment potential. US Interstate 39 is nearby, creating multiple grain marketing outlets. Nearby transmission lines and substations have the potential to create added value through wind or solar projects. The farm lease has been terminated and the land will be open to farm for the 2024 cropping season. Tract 1: 85.4 acres m/l with 79.97 estimated tillable acres carrying an average PI of 125.6 and road frontage along Johnson Road and Lake Road. Tract 2: 69.0 acres m/l with 67.55 FSA cropland acres carrying an average PI of 134.2 and road frontage along Johnson Road. Tract 3: 90.0 acres m/l with 82.69 estimated tillable acres carrying an average PI of 129.1 and road frontage along Earlville Road. Tract 4: 79.25 acres m/l with 72.63 estimated tillable acres carrying an average PI of 127.7 and road frontage along Earlville Road. The farmland will be offered as four individual tracts via the “Buyer’s Choice” auction method through a live in-person sale. Online bidding will be available as well. With the "Buyers Choice" auction method the high bidder can take, in any order, any or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all four tracts have been purchased and removed from the auction. The tracts will not be offered in their entirety or any combination after the auction. Tracts 1 and 2 are situated north of Paw Paw in Sections 26 and 35 of Willow Creek Township. Tracts 3 & 4 are located south of Paw Paw in Section 22 of Wyoming Township.