Cullom, IL 60929 - Livingston County

LIVINGSTON, FORD & IROQUOIS COUNTY, IL LAND AUCTION - P&P GRAY

Friday, February 28, 2025 - 10:00 AM Central

Auction to be conducted as a virtual, online auction. If you need assistance with internet bidding, please contact our office at (844) 847-2161

LOCATION

Livingston, Ford & Iroquois County, Illinois

The P&P Gray Farms are generally located 2-4 miles northeast of Cullom, IL, or 20 miles east of Pontiac, IL. Tract 7 is located 9 miles east of Cullom, IL. The land is further described as being located in Sections 1, 12, 13 & 14, T28N-R8E, Sullivan Township, Livingston County, Section 18, T28N-R9E, Mona Township, Ford County and Section 28, T28N-R10E, Ashkum Township, Iroquois County, Illinois.

SELLER

P&P Gray Farms Inc

MANAGED BY

Kevin Haas (309) 264-7767

GENERAL INFORMATION

663.32 acres (subject to survey) 7 tracts

Farmers & Investors, be sure to check out this impressive group of well-maintained, quality farms!

TRACT INFORMATION

Tract 1 80.0 taxable acres (Livingston County)

FSA figures indicate 78.47 NHEL cropland acres

Productivity Index (PI): 125.3

Soil types include Ashkum, Elliott, Thorp, Martinton

Access along the west side from 3400E Rd

Tract 2 156.24 taxable acres (Livingston County)

FSA figures indicate 154.19 cropland acres

Productivity Index (PI): 117.3

Soil types include Ashkum, Bryce, Clarence, Elliott, Peotone, Swygert, and Varna

Includes 2 small grain bins

Extensive conservation & drainage improvements (see website for details)

Access along the north side from 2100N Rd and along the east side from 3600E Rd (county line)

Tract 3 40.0 taxable acres (Livingston County)

FSA figures indicate 37.99 NHEL cropland acres

Productivity Index (PI): 128.7

Soil types include Ashkum & Andres

Access along the west side from 3500E Rd and along the south side from 1900N Rd

Tract 4 134 acres (subject to survey) (Livingston County)

FSA map figures indicate 132.36 NHEL cropland acres

Productivity Index (PI): 126.7

Soil types include Ashkum, Elliott, Andres, Peotone, and Symerton

Improved with 60x100x16 steel frame building

Partial insulated shop area with concrete floor

Natural floor cold storage area

Previous tenant retains the use of and access to the building until May 1, 2025

Improved with 5 grain bins (60,000 bu total capacity)

Farm Fans CF-225 grain dryer, natural gas

Farm Fans Convey-Air grain transfer system

Previous tenant retains the use of and access to the bins until July 31, 2025

Access to the building and bins area is by way of a 30 easement (north lane)

Field access is along the west side from 3500E Rd and along the north side from 1900N Rd

Tract 5 95 acres (subject to survey) (Livingston County)

FSA map figures indicate 94.84 NHEL cropland acres

Productivity Index (PI): 125.1

Soil types include Ashkum, La Hogue, Symerton, Elliott, Peotone, and Pella

Access along the north side from 1900N Rd

Tract 6 80.0 taxable acres (Ford County)

FSA map figures indicate 79.12 NHEL cropland acres

Productivity Index (PI): 125.8

Soil types include Ashkum and Elliott

Extensive drain tile installed (see website for details)

Access along the east side from 1300E Rd

Tract 7 80.0 taxable acres (Iroquois County)

FSA map figures indicate 76.69 NHEL cropland acres

Productivity Index (PI): 130.5

Soil types include Pella & Milford

Pattern tiled (see website for details)

Access along the west side from 200E Rd and along the south side from 2500N Rd

REAL ESTATE TAX INFORMATION

Livingston County

Tract 1 - PIN 18-18-14-100-002 - 80.0A - $3073.68

Includes $80 drainage tax

Tract 2 - PIN 18-18-01-200-001 - 156.24A - $5065.20

Includes $93.76 drainage tax

Tract 3 - PIN 18-18-12-300-002 - 40.0A - $1586.50

Includes $40 drainage tax

Tracts 4 & 5 - PIN 18-18-13-100-005 - 228.84A - $9659.72

Includes $188.62 drainage tax

Ford County

Tract 6 - PIN 02-02-18-400-001 - 80.0A - $3213.64

Includes $32 drainage tax

Iroquois County

Tract 7 - PIN 08-28-300-001 - 80.0A - $3190.54

Includes $83.50 drainage tax

YIELD HISTORY

TRACT 1

Year - Corn Beans

2021 - 183

2022 - 72

2023 - 231

2024 - 56

TRACT 2

Year - Corn Beans Wheat

2021 - 154

2022 - 56

2023 - 75

2024 - 44

TRACTS 3-5 COMBINED

Year - Corn Beans Wheat

2021 - 69 89

2022 - 182 72

2023 - 237 64

2024 - 171 63

TRACT 6

Year - Corn Beans

2021 - 181

2022 - 72

2023 - 239

2024 - 55

TRACT 7

Year - Corn Beans

2021 - 53

2022 - 214

2023 - 65

2024 - 245

METHOD & TERMS

The P&P Gray Farms will be sold on a price per acre basis. All 7 tracts will be offered through the marketing method of Buyers Choice, whereas the high bidder can elect any of the tracts for their high bid. If the high bidder does not elect all offered tracts, then the remaining tract(s) will continue to be offered Buyers Choice until all tracts have been elected. The tracts will NOT be offered in their entirety at the conclusion of the auction.

Immediately following the auction, the successful buyer will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing which will take place on or before Wednesday April 2, 2025.

The seller will provide title insurance in the full amount of the purchase price. Seller will pay all the 2024 real estate taxes, due and payable in 2025, through a credit at closing. Buyer will pay all the 2025 taxes and beyond. Open lease for 2025 crop year. Possession for all the farmland at closing. Possession for tract 4 building is subject to the previous tenant retaining the use of and access to the building until May 1, 2025. Possession for tract 4 grain bins are subject to the previous tenant retaining the use of and access to the bins until July 31, 2025.

Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property.

All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers pertaining to this property. Real estate is being sold AS IS.

P&P Gray Farms Inc

Representing Attorney:

Nicholas Ehrgott | Caughey, Legner, Freehill, Ehrgott & Mann, LLP

204 N. Main Street, Pontiac, IL 61764 | (815) 842-1112

Auction Manager:

Kevin Haas (309) 264-7767