184 ACRE ± INSKEEP FARM SALE – BY PRIVATE BID
Information about the Farm
We encourage you to pick up a complete bid package at our office Monday through Friday from 9:00 a.m. – 5:00 p.m. Bid packages can be mailed to you by calling (309) 742-3611 or by email at firstname.lastname@example.org. You can view the bid sheets by clicking Bid form – TRACT I – 184 acres, Bid form – TRACT II – 102.5 acres, Bid form – TRACT III – 81.5 acres.
The bid packet materials include the general notice of the offering, various aerial photos, the soil map, productivity index (PI) calculations, FSA map, PLC yields, base acres, preliminary survey, title insurance commitment and various other materials which may be helpful to you in making your assessment of the farm and how it may fit into your farming operation. To make the farm attractive to more buyers, it has been split into parcels. View Aerial Photos – Township Map, Tract I, Tract II, Tract III, and Homestead.
The farmstead is improved with two occupied dwellings, two grain bins with a total of approximately 20,000 bushels of grain storage and a machine shed. The dwellings are rented to tenants who have occupied the homes for years, pay the rent on time and take good care of the property and lawn maintenance. The two residences are leased for $600.00 per month each and generate a total of $14,400.00 per year in annual income. Both leases are oral and from month to month and can be terminated with a 30-day notice. Of course, the leases can otherwise be continued by the new owner. The Inskeep Family has kept the dwellings in fairly good condition.
There is a 4 acre pond on Stone School Road in the Northwest corner of the farm. It would make a good homesite and could be sold as a separate parcel.
Terms of Bidding
Three separate bid forms, two real estate purchase agreements and the required disclosures are also included in the complete bid package. You can bid on the entire 184± acre tract identified as Tract I and/or each of the two parcels thereof consisting of Tract II (the East 102.5± acres) and/or Tract III (the West 81.5± acres) at your pleasure. The Family will consider the combination of bids that will generate the highest total sales price of the entire farm.
Sealed written bids setting forth the total purchase price and the name and address of the bidder must be delivered to Sellers’ Attorneys, WHITNEY & POTTS, LTD., P.O. Box 368, 118 West Main Street, Elmwood, Illinois 61529-0368, no later than 4:00 P.M., Friday, November 1, 2019, at which time and place the sealed bids will be opened and the highest bid announced. The bids must be in the possession of Sellers’ Attorneys by the time and date above specified. The written bids are final and no further bids will be considered. Seller reserves the right to reject any and all bids.