Sangamon County, IL Land Auction - Lubin
Sangamon County, IL Land Auction - Lubin
See Special Terms for additional fees
Description
Sangamon County, Illinois
The Lubin Trust real estate is located on the southeast side of Springfield, IL. The property is further described as being in Section 23, T15N-5W, Woodside Township, Sangamon County, Illinois.
The real estate contains a total of 48.01 surveyed acres and will be sold in 1 tract. For farmers and investors seeking a well-maintained farm with potential for development near the University of Illinois-Springfield campus and Lake Springfield, this opportunity seems promising. The proximity to these amenities could attract interest for various development possibilities, making it a valuable investment opportunity to consider. The farm is conveniently located near the I-55/I-72 corridor.
Auction Managers:
Rodney Borrowman (630) 247-0667
John Borrowman (217) 430-0645
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Method & Terms
Lot # 0 (Sale Order: 1 of 2)
This lot is informational and may be used for test bidding - place your actual bids below on Lot #1.
The Lubin Trust farm will be sold on a price per acre basis, based on surveyed acres.
Immediately following the auction, the successful buyer will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing which will take place on or before Thursday, June 20, 2024.
The seller will provide title insurance in the full amount of the purchase price and will pay the 2023 taxes, due and payable in 2024, with a credit at closing. Buyer will pay all the 2024 taxes and beyond. Possession will be given at the time of closing, subject to a farm lease for the 2024 crop year of which the new buyer(s) will receive the landowner?s share of the farm lease income for 2024 (contact the auction managers for the details regarding the farm lease).
Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property.
All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers, a BigIron company, pertaining to this property. Real estate is being sold "AS IS".
CLICK HERE TO VIEW PURCHASE AGREEMENT
Lubin Trust
Closing & Title Work:
Prairie Land Title
3301 Constitution Dr A, Springfield, IL 62711 | (217) 726-0617
Auction Managers:
Rodney Borrowman (630) 247-0667
John Borrowman (217) 430-0645
Tract 1 - 48 surveyed acres
Lot # 1 (Sale Order: 2 of 2)
Quantity: 48
- 48 surveyed acres
- FSA records indicate 37.88 NHEL cropland acres
- Productivity Index (PI): 132.5
- Soil types include Osco, Rozetta, and Ipava
- Development potential
- Zoned R1 as unimproved farmland with an agricultural tax code
- East Hazel Dell Road borders the farm on the north and West Lake Shore Drive borders the farm on the east
The purchase agreement will be adjusted to a quantity of 48 acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value.
