Prospectus for 1-13-2020 Law Trust Real Estate Auction, Pike County, IL

ABSOLUTE PIKE COUNTY, ILLINOIS

REAL ESTATE AUCTION MONDAY, JANUARY 13, 2020 AT 10 AM AUCTION LOCATION:

American Legion Post 1048, 104 Clay St., Pleasant Hill, IL 62366 PROPERTY LOCATION: At the east side (Illinois side) of the Mississippi River Bridge across from Louisiana, MO. At the junction of Highway 54 and Ralph’s Landing Road just across the river in Illinois.

THE LAW PROPERTY CONSIST OF 174.5 SURVEYED ACRES TO SELL IN THREE TRACTS LOCATED IN TOWNSHIP 7S, RANGES 5W & 6W, SECTIONS 13 & 18 IN PIKE COUNTY, ILLINOIS.

SELLER: HARRY LAW TRUST Dale Law, Trustee For more information call Charlie Nordwald at 636-795-4552 or visit wheelerauctions.com ILLINOIS REAL ESTATE LICENSE NUMBER 471.012853

JANUARY 13, 2020 AT 10 AM PRE-AUCTION PROPERTY VIEWING

SATURDAY, JANUARY 4, 2020 FROM NOON TO 2 PM AUCTION LOCATION: American Legion Post 1048, 104 Clay St., Pleasant Hill, IL 62366

PROPERTY LOCATION: At the east side (Illinois side) of the Mississippi River Bridge across from Louisiana, MO. At the junction of Highway 54 and Ralph’s Landing Road just across the river in Illinois.

THE LAW PROPERTY CONSIST OF 174.5 SURVEYED ACRES TO SELL IN THREE TRACTS LOCATED IN TOWNSHIP 7S, RANGES 5W & 6W, SECTIONS 13 & 18 IN PIKE COUNTY, ILLINOIS. TRACT 1: Consist of approximately 7.55 surveyed acres located on the northeast side of the junction of 265th Street and Hwy. 54.

The tract has Hwy. 54 frontage on the south side and 265th Street wraps around the north side. This tract is virtually all tillable.

Rural water is available. This piece is perfect for a commercial development.

TRACT 2 is the largest of the three tracts and consist of approximately 163.72 surveyed acres and lies in the southwest corner of Hwy. 54 and Ralph’s Landing Road. According to the Pike County FSA Office there is 96.5 acres tillable and currently in crops with the balance in sloughs and woods.

Rural water is available along Highway 54. Improvements include a 30 ft. x 50 ft. Kamar pole frame building with a partial concrete floor located near and accessed from Hwy. 54 on the north end. There is also a 50 ft. x 70 ft. Kamar pole frame machinery storage building with full concrete floor and electric and is located down on the east end accessed off Ralph’s Landing Road. Beside the Kamar building is a 7,800-bushel grain bin with perforated floor, fan and unloading auger that currently has storage grain in it.

The tract has some quality river bottom crop ground and some wonderful opportunities for whitetail deer, turkey and waterfowl hunting. All future farm rights go to the new buyer.

The farm enjoys Federal Corp Levee Protection and is a part of the Sny Drainage System. The new buyer will pay all 2020 property taxes and retain all 2020 crop income. The Law Family will pay all the Sny Drainage District Reassessment Taxes.

TRACT 3: Consist of the house tract on 3.23 surveyed acres with frontage and access off Ralph’s Landing Road This was the Law Family’s personal dwelling and is currently occupied by Kenneth Law and his Family.

The house is a 1,628 sq. ft. single story ranch style structure with aluminum siding and soffits, and a shingle roof. There are thermal pane windows with aluminum screens. The house is connected to rural water and a concrete septic tank. The house has a 23 ft. x 24 ft. two-car attached garage w/ two overhead 7’ x 10’ doors. The home has three bedrooms and two and a half baths and is set on a full concrete basement with a sump pump. The house has a large living room with a bay window and a combination kitchen/dining room with a masonry fireplace in the end of the dining area. The kitchen has wooden cabinets, Formica counter tops with rolled front and 4” back splash. No appliances will be staying with the house. There is a utility room set up for your washer and dryer and extra storage. There are ceiling fans and the flooring is laminated and carpet.

The house has three sources of heat, an electric forced air furnace, electric radiant heat in the ceiling and a Woodchuck woodburning furnace in the basement that is connected directly into the duct work.

The home is cooled by a central air conditioning unit.

This tract also has a detached 24 ft. x 28 ft. garage/workshop with two 7’ x 10’ overhead doors, concrete floor and is wired for 110v and 220v electric/ There is a mature lawn and several large native shade trees and enough extra space for a large garden and sweet corn patch.

SPECIAL NOTE on possession of Tract 3. Kenneth and his Family are in the process of building a new home but will not be ready to move until later this Spring. So, they want to reserve the right to rent this house on a month to month basis for up to six months after closing.

NOTE: Each tract will be offered individually on a stand-alone basis.

ON-LINE BIDDING: ON-LINE BIDDING WILL BE AVAILABLE BY REQUEST THRU PROXIBID. The Law Family has owned this property since 1939, they have lived here, farmed the ground and cared for it for nearly 8 decades and this is the first opportunity to bid on it, so please come take advantage of the golden opportunity.

AUCTION TERMS AND CONDITIONS Procedure: Property shall be sold to the absolute highest bidder.

Down Payment: 10% Down day of auction with the balance due at closing in 30 days or less. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, be sure you have arranged financing, if needed, and are capable of paying the balance at closing.

Title: Title search, preparation and title insurance to be paid by the Seller.

Possession: Possession given a closing in 30 days or less. The seller are in the process of building a new home but will not be ready to move until later this Spring. So, they want to reserve the right to rent this house on a month to month basis for up to six months after closing on tract 3.

Mineral Rights: The sale shall include100% of the mineral rights owned by the sellers.

Easements: Sale of the property is subject to any and all easements on record.

Taxes: The new buyer will pay all 2020 property taxes and retain all 2020 crop income. The Law Family will pay all the Sny Drainage District Reassessment Taxes.

Survey & Acreage: Acreage is based on current survey.

Closing: Anticipated closing date shall be on or before Thursday, Feb. 13, 2020 or on a date mutually agreed upon between the buyer(s) and the sellers conducted at the office of Western Illinois Title Services, 130 S. Madison, Pittsfield, IL 62363, 217-285-6342.

Agency: Wheeler Auctions & Real Estate and its representatives are Exclusive Agents for the sellers.

Disclaimer: The property is being sold on an “as is, where is” basis, and no warranty or representation, either express or implied, concerning the property is made by either the sellers or the auction company. Each bidder is responsible for conducting its own independent inspections, investigations, and all due diligence concerning the property and the auction. Information contained in this brochure is subject to verification by all parties relying on it. Diagrams/dimensions in this brochure are approximate. Acreage is estimated. All information contained in this brochure and any related materials are subject to the terms and conditions of sale outlined in the purchase contract. Auction conduct and bidding increments are at the sole direction and discretion of the auctioneer. All decisions of the auctioneer are final. The sellers and the Auction Company reserve the right to preclude anyone from bidding if there is a question as to the person’s credentials, fitness, intent, etc.

New Data, Corrections and Changes: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information. ALL ANNOUNCEMENTS AND INFORMATION GIVEN FROM THE AUCTION PODIUM SHALL TAKE PRECEDENCE OVER PREVIOUSLY PRINTED OR STATED ADVERTISEMENT.

The attorney for the Laws is Ronald Hoskins of Lowry & Hoskins LLC – 130 S. Madison, Pittsfield, IL, 217-285-4220

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