The Late Allen Petri & Mary Petri Farm Auction

Real Estate

Location: The K of C Hall, Quincy Rd., Mt. Sterling, IL

The farm is ideally located approximately 4 miles southeast of Mt. Sterling, Illinois via Hwy. 99. From Mt. Sterling, IL go south on Hwy. 99 past Dot Foods and the State of Illinois Dept. of Corrections facility. Continue southeast through the small village of Hersman. The Petri farm is located on the northeast side of the highway.

1 p.m. Tuesday, December 17th, 2019
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This listing posted on 11-25-19, for more photos and updates CLICK HERE.

Tract 1 • Home & 10 Acres± (subject to survey)

  • FSA information should indicate 3.81 acres tillable.
  • Predominant soils include Rozette & Fayette with a Crop Productivity Index (PI) of 112.8 on the tillable acres.
  • The tillable acres are currently in CRP, which expires on 9-30-22.
  • This tract is improved with a 3-bedroom home, machine shed, large vintage barn and pond. Beautiful setting!
  • Access by Hwy. 99 at the south.
     

Tract 2• 17 Acres± (subject to survey)

  • FSA information should indicate 5.03 acres tillable.
  • Predominant soils include Rozette & Elco with a Crop Productivity Index (PI) of 111.6 on the tillable acres.
  • The tillable acres are currently in CRP, which expires on 9-30-22.
  • Premiere potential new home site. Rolling land with wooded wildlife habitat.
  • Access by Hwy. 99 at the south.
     

Tract 3 • 12 Acres± (subject to survey)

  • FSA information should indicate 6.11 acres tillable.
  • Predominant soils include Rozette & Navlys with a Crop Productivity Index (PI) of 113 on the tillable acres.
  • The tillable acres are currently in CRP, which expires on 9-30-22.
  • Premiere potential new home site. Rolling land with wooded wildlife habitat.
  • Access by Hwy. 99 at the south.
     

Tract 4 • 11 Acres± (subject to survey)

  • FSA information should indicate 6.29 acres tillable.
  • Predominant soils include Rozette & Navlys with a Crop Productivity Index (PI) of 107.5 on the tillable acres.
  • The tillable acres are currently in CRP, which expires on 9-30-22.
  • Premiere potential new home site. Rolling land with wooded wildlife habitat.
  • Access by Hwy. 99 at the south with additional access by Cty. Rd. 975E on the west.

Method & Terms

  • The Petri farm will be sold in four individual tracts, all of which are currently being surveyed. Tract 1, which includes the home, will sell first for a “lump sum” or total dollar amount and NOT on a price per acre basis. After Tract 1 has been sold we will then sell Tracts 2 – 4 on a price per acre basis, with the final surveyed acres being used to calculate the individual contract prices. Tracts 2 – 4 will be offered through the marketing method of “buyer’s choice”, whereas the high bidder can elect any, or all, of these three tracts for their high bid. If the high bidder does not elect all three tracts, “buyer’s choice” auctioning will continue until all three tracts have been sold. After all four tracts have been sold we will NOT offer the farm in any type of combinations. Each sale will be final.
  • Immediately following the auction, the successful bidder shall enter into a written agreement with the seller. Ten (10%) percent of the bid price to be due on the day of sale with the balance due at closing. Please Note: Special closing information as follows. Tract 1, which includes the home, can close in 2019 or in 2020 per the buyer’s request. The buyer of Tract 2 will be required to close in 2020 (without exception). The buyer(s) of Tracts 3 & 4 will be required to close in 2019 (without exception). Title insurance in the full amount of the purchase price will be provided by the seller. The 2019 real estate taxes, which are due and payable in 2020, will be paid by the seller as the seller has received the 2018/2019 CRP income. (CRP contracts run from October 1st – September 30th.) The 2019/2020 CRP payment, which will be received in the fall of 2020, will be prorated to the date of closing between the buyer and seller. Full possession will be given at the time of closing.
  • All announcements sale day shall take precedence over any prior advertising either written or oral. The information in this brochure is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to the property. This real estate is being sold “as is”.

The Late Allen Petri & Mary Petri Farm
Mary Petri – Seller
Joyce Bowman – POA


Representing Attorney:
John B. Leonard
132 E Main St, Mt Sterling, IL 62353
Phone: (217) 773-3814

The Late Allen Petri & Mary Petri Farm Auction


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