Virtual Online Auction
Sale Date: Thursday, January 18, 2024
Sale Time: 10:00 AM CST
Seller: Ernest & Ferris Schrock Estate
Diane Prill, Executrix
Curt Schrock
Susan Rhule
Elaine Clawson
Inspection Day: Friday, January 5, 2024 | 10:00 AM – 3:00 PM or by appointment
Personal Property sells timed online-only with lots beginning to close 12:00 PM.
120± Acres • 2 Tracts
LOCATION
The Schrock farm is located approximately 11 miles northeast of New Boston, IL, or 15 miles southeast of Muscatine, IA, or 32 miles southwest of Rock Island, IL, near the community of Eliza, IL and is further described as being located in Section 21 Eliza (East) Township, Mercer County, IL. The farm represents recreational land, productive, tillable crop land and an older ranch home with outbuildings located in seclusion at the end of a maintained township road.
Representing Attorney:
Karl Bredberg
Katz Nowinski, P.C.
PO Box 208
2020 SE 3rd St.
Aledo, IL 61231-0208
(309) 582-5327
Auction Representative:
Dale Jones (309) 299-6400
TRACT INFORMATION
Tract 1 • 19 Acres± (subject to survey)
- 3 bedroom ranch home with full basement and several mechanical updates
- Morton pole building
- Other outbuildings
- Deep well and shallow well
- Small, older farm pond in need of rehab
- Many apple, peach and cherry trees
- The balance of the tract is meadows, wooded areas with Whitetail deer and turkey habitat and a small amount of tillable land
- Access on the northeast corner by 65th St.
Tract 2 • 101 Acres± (subject to survey)
- Tillable and wooded acres
- Productivity Index (PI): 94.6
- Productive soil types include Seaton, Timula-Hickory, Orion, Seaton-Timula
- This tract has a good combination of income producing crop land and timber with tremendous outdoor recreational potential as well as whitetail deer and wild turkey habitat.
- Access on the northeast corner by 65th St.
METHOD AND TERMS
Both tracts will be surveyed. Tract 1 will sell first, for a lump sum, total dollar amount. Tract 2 will then sell by the acre, based on the surveyed acres. The tracts will NOT be offered together or in combination at the conclusion of the auction.
Bidding is NOT subject to any contingencies, including but not limited to financing, appraisal, or inspection.
Immediately following the auction, the successful buyer(s) will be required to enter into a written Real Estate Sales Contract with the seller and pay ten percent (10%) of the bid price as a non-refundable down payment. The balance of the bid price will be due at the time of closing, on or before February 23rd, 2024.
The seller will provide title insurance in the full amount of the purchase price and pay the 2023 real estate taxes, due and payable in 2024. Buyer to pay the 2024 and all subsequent taxes. Possession will be given at the time of closing. The land sells free and clear of 2024 farm tenancy.
