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LAND AUCTION - 1103.8+/- ACRES OFFERED IN 14 TRACTS OR ANY COMBINATION IN KANKAKEE, FORD, & IROQUOIS COUNTIES, ILLINOIS (TRACTS RANGING FROM 40-167.9+/- ACRES)
Thu, Nov 9, 1:00 PM
Southwest Kankakee County, Northern Ford County & Northwest Iroquois County: Kankakee Co., (Farm A): S of Herscher - Ford Co., (Farm B): E of Cabery/SW of Herscher - Ford Co., (Farm C): E of Kempton - Iroquois Co., (Farm D): SE of Herscher/W of Chebanse

Owner: Tracts 1-5 & 10-14: Chicago Title Land Trust Company, Successor Trustee, Trust #3303 Tracts 6-9: Ronald S. Papanek Revocable Trust

SOLD FOR $11,077,200

• Productive Soils • Highly Tillable Tracts • Farm D: 585.3+/- Contiguous Acres (Except for Road) • Grain Storage & Machine Shed • Excellent Road Frontage • Investigate for Potential Home Site

OPEN HOUSE/INSPECTION DATES
Wednesday, October 11th from 3-5PM
Thursday, October 26th from 3-5PM
Meet a Schrader Representative at the Cabery Fire Department
310 S State St (IL 115), Cabery, IL 60919
On the west side of Cabery at Main St (4100 N Rd) & State St (IL 115) go south on State St (IL 115) 0.1 mile to Willard St. Turn east on Willard St & the fire department is on the south side of the street.

PROPERTY LOCATION
To Farm A: From the north side of Herscher at IL 115 & Park Rd (Casey's on the corner), go south on Park Rd (turns into 12000 W Rd) for 3.5 miles to TR 1 on the right & TR 2 on the left. Continue south on 12000 W Rd .25 mile to TR 3 on the east side of the road. Continue south on 12000 W Rd .25 mile to 8000 S Rd (3400 N Rd) & go west to view the south end of TR 1 or east to view the south end of TR 3.
To Farm D: continue east of TR3 on 3400 N Rd (8000 S Rd) approximately 2 miles to TR 14 on the south side of the road. Continue east of TR 14 on 3400 N Rd (8000 S Rd) & TR 13 will be on your right & then TR 12. Turn south on 500 E Rd & TR 12 will be on your right. Continue south on 500 E Rd past TR 12 & TR 11 will be on the west side of the road, then TR 10, then TR 9. At 3300 N Rd go west to view the south end of TR 9 on the north side of the road & TR 8 on the south side of the road. Go back to the intersection of 3300 N Rd & 500 E Rd & go south to view the east side of TR 8.
To Farm B: Go back to the south end of Tracts 1 & 3 at the intersection of 3400 N Rd (8000 S Rd) & 200 E Rd (12000 W Rd) & go west on 3400 N Rd (8000 S Rd) approximately 2 miles to 1800 E Rd (000 E Rd) & go south .5 mile on 1800 E Rd (000 E Rd) to TR 4 on the west side of the road. Continue south to 4000 N Rd & go west along the south end of TR 4 approximately .25 mile to TR 5 on the north side of the road.
To Farm C: continue west of TR 5 on 4000 N Rd for 1.5 miles to 1600 E Rd. Go south on 1600 E Rd 4 miles to 3600 N Rd. Go west on 3600 N Rd approximately .5 mile to TR 7 on the north side of the road. Continue west on 3600 N Rd to view TR 6 & go north on 1500 E Rd to view the west side of TR 6.
To Farm C from Kempton: From East of Kempton 1.25 miles at the intersection of IL 115 & 3700 N Rd, go south on IL 115 for 1 mile to 3600 N Rd. Then east on 3600 N Rd for 1 mile to 1500 E Rd. TR 6 is at the NE corner of 3600 N Rd & 1500 E Rd. To TR 7 continue east on 3600 N Rd approximately 0.3 mile to TR 7.

AUCTION LOCATION
The Expo Center at the Kankakee County Fairgrounds - 213 W 4000 S Rd, Kankakee, IL 60901
From the south side of Kankakee at the US 45/US 52 & I-57 interchange (Exit 308), go south on US 45/US 52 for approximately 1 mile to 4000 S Rd (Fairgrounds Rd). Then go west on 4000 S Rd 0.2 mile to the Fairgrounds entrance on the right.

PROPERTY DESCRIPTION
FARM A:
Tract 1 - 80+/- Acres: Productive farmland & 81.2 cropland acres per FSA. Frontage on 8000 S Rd (3400 N Rd) & 12000 W Rd.
Tract 2 - 77+/- Acres: Productive farmland & nearly all tillable except road & waterway. Frontage on 12000 W Rd.
Tract 3 - 41.5+/- Acres: Productive farmland & nearly all tillable except for roads, waterway & a small area for water disposal pump site of Kinder Morgan - Natural Gas Pipeline Company of America near the southwest corner. Frontage on 12000 W Rd & 8000 S Rd (3400 N Rd).

FARM B
Tract 4 - 102+/- Acres: Productive farmland & 98.02 cropland acres per FSA in one field. Frontage on 1800 E Rd (000 E Rd) & 4000 N Rd.
Tract 5 - 58+/- Acres: Productive farmland & 54.41 cropland acres per FSA. Frontage on 4000 N Rd.

FARM C
Tract 6 - 99+/- Acres: Productive farmland with 95.13 cropland acres per FSA in one field. Frontage on 3600 N Rd & 1500 E Rd.
Tract 7 - 61+/- Acres: Productive farmland with 58.71 cropland acres per FSA. Frontage on 3600 N Rd.


FARM D
Tract 8 - 167.9+/- Acres: Productive farmland with 159.93 cropland acres per FSA. Nice large tract with approximately one mile of road frontage. Frontage on 500 E Rd & 3300 N Rd.
Tract 9 - 41.4+/- Acres: Productive farmland & mostly tillable. There is an old vacant house & other old outbuildings/remnants on this tract. Investigate removing the buildings & building your new country home. Frontage on 3300 N Rd & 500 E Rd.
Tract 10 - 44.9+/- Acres: Productive farmland that is nearly all tillable except for road. Frontage on 500 E Rd.
Tract 11 - 135+/- Acres: Productive farmland that is mostly tillable. Frontage on 500 E Rd.
Tract 12 - 72.6+/- Acres: Productive farmland & mostly tillable. Frontage on 500 E Rd & 3400 N Rd (8000 S Rd).
Tract 13 - 40+/- Acres: Productive farmland with a 30ft D x 24ft H (including aeration floor) grain bin (north), 30ft D x 17ft 6in H (including aeration floor) grain bin (middle) - inspect for needed repairs, 30ft D x 24ft H grain bin (south) - inspect for needed repairs, 42ft x 81ft machine shed, silo & old confinement hog barn. Consider this tract as a possible staging site for a larger unit. Frontage on 3400 N Rd (8000 S Rd).
Tract 14 - 83.5+/- Acres: Productive farmland & mostly all tillable. Frontage on 3400 N Rd (8000 S Rd).
Note: Per FSA, Farm D has 554.2 cropland acres.

• FARM A: TRACTS 1-3
  
• FARM B: TRACTS 4+5
  
• FARM C: TRACTS 6+7
  
• FARM D: TRACTS 8-14
  

PROCEDURE: The property will be offered in 14 individual tracts, any combination of tracts & as a total 1,103.8+/- acre unit. There will be open bidding on all tracts & combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations, & the total property may compete.

BUYER'S PREMIUM: The contract purchase price will include a Buyer's Premium equal to 2% of the bid amount.

DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashier's check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, & are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES: All final bid prices are subject to the Seller's acceptance or rejection. All successful bidders will be required to sign Purchase Agreements at the auction site immediately following the close of the auction.

DEED: Seller shall provide a Trustee's Deed(s) sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, & all other matters of public record.

EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to auction. Seller agrees to furnish Buyer(s), at Seller's expense, an updated title commitment prior to closing. The cost of providing an Owner's Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing. The targeted closing date will be approximately 30 days after the auction or as soon thereafter upon completion of surveys, if applicable, the final title commitment & Seller's closing documents. Costs for an administered closing shall be shared 50:50 between Buyer(s) & Seller. All lender costs shall be paid by the Buyer(s).

POSSESSION: Possession will be delivered at closing subject to rights of Seller for the 2023 crop.

REAL ESTATE TAXES: Seller shall pay all 2022 real estate taxes due & payable in 2023 as well as the 2023 real estate taxes due & payable in 2024. Buyer shall assume any taxes thereafter.

ACREAGE: All tract acreages, dimensions, & proposed boundaries are approximate & have been estimated based on county tax parcel data, county GIS, preliminary survey work and/or aerial mapping.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction or where Seller otherwise determines a survey is appropriate. Farm D will be surveyed. Any need for a new survey shall be determined solely by the Seller. Seller & successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Seller's option & sufficient for providing title insurance. If Seller determines a survey is needed, combined purchases will receive a perimeter survey only. Final sales price shall be adjusted to reflect any difference between advertised & surveyed acres.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries & due diligence concerning the property. Inspection dates have been scheduled & will be staffed with auction personnel. Further, Seller disclaims any & all responsibility for Bidder's safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

EASEMENTS: Subject to any & all existing easements.

AGENCY: Schrader Real Estate & Auction Company, Inc. & its representatives are exclusive agents of the Seller.

DISCLAIMER & ABSENCE OF WARRANTIES: All information contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, & no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, & due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction & increments of bidding are at the direction & discretion of the Auctioneer. The Seller & Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.