North Henderson, IL 61466(Mercer County)

Directions to Tract 1: from North Henderson go north 1 mile on 320th St to 30th Ave then west 1 mile. Directions to Tract 2 & 4: from North Henderson go south on 320th St 2 miles. Directions to Tract 3: from North Henderson go south on 320th St 3 miles. North Henderson is located approximately 7 1/2 miles north of Galesburg, Illinois on HWY 150 to Knox HWY 34, then west approximate 5 miles.

SELLER

Lake Family Farms

Scott & Bridget Lake

Roger & Judy Lake

MANAGED BY

Jim Sullivan (217) 440-8172

GENERAL INFORMATION

Tracts 1, 2 & 3 represent tillable productive farmland. Tract 4 is improved with grain storage bins (a 22,000 bushel bin built in 2008 & a 16,000 drying bin built in 2006).

TRACT INFORMATION

TRACT 1 - 99 ACRES

FSA figures should indicate 84.26 cropland acres

Soil types include Ipava, Greenbush, Hickory, Sylvan, Clarksdale, Rozetta and Orion (PI): 120.7

Access on the south by 30th Ave and on the east by 310th St

TRACT 2 - 71.26 SURVEYED ACRES

FSA figures should indicate 59 cropland acres

Soil types include Greenbush, Osco, Elco, Radford, and Hickory (PI): 122

Access on the west by 320th St

TRACT 3 - 56.91 ACRES

FSA figures should indicate 51.39 cropland acres

Soil types include Ipava, Rozetta, Osco, Muscatune, Greenbush and Elco (PI): 131.9

Access on the south by 290th Ave and on the east by 160th St

TRACT 4 - 5.57 SURVEYED ACRES

FSA figures should indicate 2.8 cropland acres

Soil types include Elco, Osco and Radford (PI): 110

Access on the south by 300th Ave

This tract is improved with 3 grain bins, a 40 x 90 steel machinery storage building and a 26 x 60 wood frame storage building

Continuous Flow Grain Drying System

Drying Control (installed 2014)

DMC CALC-U-DRI

Two GSI 30 HP (3 Ph) centrifugal fans

Two GSI 3,000,000 BTU LP burners

Rated at 700 bu./hour

Drying bin (Built 2006)

16,000 bushel capacity

36 grain stir-rite

8 power sweep auger with 5HP (3Phase) motor

8 Horizontal unload Auger with 7.5HP (3Phase) motor

Bin stairs with double platform

Storage bin (Built 2008)

22,000 bushel capacity

10 HP (3 Ph) GSI centrifugal fan

8 sweep auger with 3 HP (3Ph) motor

8 Horizontal unloading auger with 10HP (3Ph) motor

Bin stairs with double platform

3500 bu (18 diameter)

7 HP 3Ph GSI vane axial fan

3 HP 3Ph 8 unload auger

1.5 HP Single phase sweep auger

METHOD & TERMS

Bidding will be on a per acre basis tract 1, 2 & 3. Bidding will be for the total dollar amount or lump sum on Tract 4. Tracts 1-3 will be offered through the marketing method of Buyers Choice, whereas the high bidder can elect any or all of Tracts 1-3 (in any order) for their high bid. Buyers Choice auctioning will continue on Tracts 1-3 until all 3 tracts have been purchased. Tract 4 will sell last. 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 and enter into a written 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 September 29, 2023.

The Seller will provide Title Insurance in the full amount of the purchase price. Possession on the cropland acres will be given at the time of closing, subject to the removal of the crops growing thereon. Possession of the grain bins on Tract 4 will be given at the time of closing. Seller will retain the 2023 crop and pay the 2023 real estate taxes.

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, LLC pertaining to this property. Real estate is being sold AS IS.

Lake Family Farms - Seller

Scott & Bridget Lake

Roger & Judy Lake

Representing Attorney:

Brian A. Peterson | Simpson Peterson

246 E. Main St., Suite 201, Galesburg, IL 61401 | (309) 343-6152

Auction Manager:

Jim Sullivan (217) 440-8172