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LAND AUCTION

KNOX COUNTY, ILLINOIS
446.44 ACRES (M/L) - 5 TRACTS

TUESDAY, DECEMBER 1, 2009
AT 10:00 A.M.

HIGHLY PRODUCTIVE PRIME CROPLAND

AUCTION LOCATION:
BEST WESTERN PRAIRIE INN, I74 AT EAST MAIN STREET EXIT #48, GALESBURG, ILLINOIS.

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GENERAL LOCATIONS: 346.44 ACRES (m/l) consisting of 4 tracts of farmland located in Sections 25 and 26, Henderson Township (T.12N.-R.1E.), Knox County, Illinois, 1.5 miles north of Route 34 in Galesburg on North Seminary Road to Road 2000N, 1 mile east then south on Road 500E. Tracts 1-3 are
contiguous and are identifi ed as: Tract 1- The North 78.77 acres, Tract 2 – The Center 78.77 acres and Tract 3 – The South 78.77 acres. Tract 4 – 110.13 acres located directly across Road 500E from Tracts 2 and 3. 100 ACRES (m/l) identifi ed as Tract 5 is located 3 miles north of Galesburg on Route 150 to Knox Road 2200N then 3 miles east.

TRACT 1: 78.77 ACRES (m/l) PLAT LOCATION: 78.77 acres, more or less, located in the North Half of the Northeast Quarter of Section 26, Henderson Township, Knox County, Illinois. DESCRIPTION: Tract 1 lies level and is all tillable. Primary soil types are Sable (43.5 acres) and Ipava (35.2) acres) silt loams, both Class A Illinois soils. The property has frontage on Roads 2000N and 500E.

TRACT 2: 78.77 ACRES (m/l) PLAT LOCATION: 78.77 acres, more or less, located in the South Half of the Northeast Quarter of Section 26, Henderson Township, Knox County, Illinois. DESCRIPTION: Tract 2 lies level and is all tillable. Primary soil types are Ipava (52.2 acres) and Sable (26.5 acres) silt loams, both Class A Illinois soils. The property is south of Tract 1 and has frontage on Road 500E.

TRACT 3: 78.77 ACRES (m/l) PLAT LOCATION: 78.77 acres, more or less, located in the North Half of the Southeast Quarter of Section 26, Henderson Township, Knox County, Illinois. DESCRIPTION: Tract 3 lies level and is all tillable. Primary soil types are Ipava (46.7 acres), Sable (25 acres) and Osco (7 acres) silt loams, all Class A Illinois soils. The property is south of Tract 2 and has frontage on Road 500E

TRACT 4: 110.13 ACRES (m/l) PLAT LOCATION: 110.13 acres, more or less, located in the West Half of Section 25, Henderson Township, Knox County, Illinois. DESCRIPTION: Tract 4 lies level to undulating and is all tillable, with the exception of a small grass waterway located in the southeast portion of the farm. Primary soil types are Ipava (67 acres), Osco (28.7 acres) and Sable (12.6 acres) silt loams, all Class A prairie soils. The property is located directly across the road from Tracts 2 and 3, and has frontage on Road 500E. FSA DATA Tracts 1, 2, 3 and 4: Corn Base – 64% of cropland; Corn Program Yields – 132/132;

Soybean Base – 31.3% of cropland; Soybean Program Yields – 46/46; Wheat Base - .4% of cropland; Wheat Program Yields – 56/56.

FSA DATA Tract 5: Corn Base – 47.9 acres; Corn Program Yields – 124/165; Soybean Base – 47.8% acres; Soybean Program Yields – 41/50.

TRACT 5: 100 ACRES (m/l) PLAT LOCATION: 100 acres, more or less, located in the Northwest Quarter of Section 18, Sparta Township (T.12N.-R.2E.), Knox County, Illinois. FARM LOCATION: 3 miles north of Galesburg, Ill. on Route 150 to Knox Road 2200N then 3 miles east or 2 miles west of Wataga on Knox Road 2200N. DESCRIPTION: Tract 5 lies level to gently rolling and presently includes 98.1 tillable acres. The balance of the acreage consists of a small waterway in the northeast portion of the farm. Primary soil types are Osco (66 acres), Ipava (20.3 acres) and Elkhart (11.8 acres) silt loams, all highly productive prairie soils. The property has frontage on Roads 2200N and 600E.

Aerial Photos

METHOD OF SALE: Tracts 1, 2, 3 and 4 will be sold by the high bidder’s choice method of marketing. The high bidder will have the option of selecting any individual tract, any combination of tracts, or all four tracts. In the event less than all tracts are selected in the fi rst session, the remaining tracts will be offered by the same method, until all are sold. Tract 5 will be sold individually, and not offered in any combination.

TERMS OF SALE: Ten percent (10%) of the purchase price to be paid down at time of sale with balance due on or before December 30, 2009. Possession will be given at closing subject to the rights of the present tenants for the 2010 crop season, expiring February 28, 2011. The new owner(s) will receive cash rent payments on March 1, 2010 and October 1, 2010, under the terms of the existing lease. Title insurance provided. The sellers will pay the 2009 real estate taxes payable in 2010, and the buyer(s) shall pay all subsequent taxes. All statements and representations herein are believed to be correct, however, the sellers and the auctioneers make no warranties, expressed or implied. An agreement covering conditions of sale will be signed by the buyer(s) and the sellers, and the terms thereof are incorporated herein by reference. Any announcements made on the day of sale will supersede those previously advertised. Please contact the auction firm for further information and visit our website for maps and color photos.

AUCTIONEER’S NOTE: This is an exceptional offering of prime Western Illinois farmland! The tracts are well located close to Galesburg and would make an excellent addition to any farming operation or investment portfolio. We invite your inspection of the farms at anytime.

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