Auction Information
Online Bidding SiteKNOX COUNTY, IL LAND AUCTION - RESCHLY
Monday, August 19, 2024 - 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
Knox County, Illinois
Located at the west edge of Abingdon, IL in the southwest quarter of Section 32, T10N-R1E, Cedar Township, Knox County, Illinois. At the junction of Hwy 41 and W Martin St in Abingdon, IL (Caseys General Store) go west on W Martin St approximately 3/4 of a mile. The farm is located on the north side of W Martin St (Cty Hwy 23). Abingdon, IL is located approximately 10 miles south of Galesburg, IL. Be watching for auction signage!
SELLER
Land Known Locally as the Bill Pendarvis Farm
Linda Reschly, Trustee of the Linda Reschly Revocable Intervivos Trust, Dated Sept. 25, 2007
Mark Reschly, Trustee of the Mark Reschly Revocable Intervivos Trust, Dated Sept. 25, 2007
MANAGE...
MANAGED BY
Jim Sullivan (217) 440-8172
GENERAL INFORMATION
97 taxable acres 1 tract
Land represents highly productive Class A Illinois farmland!
TRACT INFORMATION
97 taxable acres
FSA records indicate 96 acres of NHEL cropland
Productivity Index (PI): 141.4 (CLASS A)
Soil types include Ipava, Osco, & Sable
Access along the south by Knox Cty 23 and on the north by Knox Cty Road 650 N.
NOTE: The lane on the west side of the farm was previously a public road. It is no longer a public road and has been legally vacated.
METHOD & TERMS
The Reschly farm will be sold on a price per acre basis, based on 97 taxable acres.
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 October 1, 2024.
The seller will provide title insurance in the full amount of the purchase price and pay all the 2024 real estate taxes, due and payable in 2025. Buyer will receive possession at closing subject to a farm lease for the 2024 crop year, full possession upon removal of the 2024 crop. Open lease for 2025 crop year and beyond.
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, a BigIron company, pertaining to this property. Real estate is being sold AS IS.
Land Known Locally as the Bill Pendarvis Farm
Linda Reschly, Trustee of the Linda Reschly Revocable Intervivos Trust, Dated Sept. 25, 2007
Mark Reschly, Trustee of the Mark Reschly Revocable Intervivos Trust, Dated Sept. 25, 2007
Representing Attorney:
Robert L. Potts | Whitney & Potts
118 West Main Street, Elmwood, IL 61529 | (309) 742-3611
Auction Manager:
Jim Sullivan (217) 440-8172
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Knox County, Illinois
Located at the west edge of Abingdon, IL in the southwest quarter of Section 32, T10N-R1E, Cedar Township, Knox County, Illinois. At the junction of Hwy 41 and W Martin St in Abingdon, IL (Caseys General Store) go west on W Martin St approximately 3/4 of a mile. The farm is located on the north side of W Martin St (Cty Hwy 23). Abingdon, IL is located approximately 10 miles south of Galesburg, IL. Be watching for auction signage!