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    DeKalb County, IL Land Auction- Lowman

    Thu Feb 24 - 10:00AM


    Online Bidding, Genoa, IL Click to Map


    Sullivan Auctioneers, LLC

    Auctioneer's Other ListingsE-mail AuctioneerAuctioneer's Web Site

    Auctioneer ID#: 43943

    Phone: 844-847-2161

    License: 444000107

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    Thursday, February 24, 2022 - 10:00 AM Central

    Auction to be conducted as a virtual, online auction. If you need assistance with internet bidding, please contact our office at (844) 847-2161

    LOCATION

    DeKalb County, Illinois

    The Lowman – Olmstead farm is located approximately 4 miles northeast of Genoa, IL, or 10 miles north of Sycamore, IL, or 15 miles southeast of Belvidere, IL. The property is further described as being located in the Northwest Quarter of the Northwest Quarter of Section 16, T42N-R5E, Genoa Township, DeKalb County, IL.


    SELLER

    The Lowman – Olmstead Farm

    Randall Lowman

    Paul Lowman

    MANAGED BY

    Kevin Haas (309) 264-7767

    John Sullivan (309) 221-6700

    GENERAL INFORMATION

    The farm contains 40 taxable acres and is all tillable cropland with Class A soils. Farmers and investors, what a tremendous opportunity to purchase high quality farmland at public auction. 

    The Lowmans are direct heirs of Henry and Samantha Olmstead who homesteaded this farm in 1842. Henry was a direct descendent of Frederick Law Olmstead, a renowned landscape architect who designed Central Park in New York City and the Biltmore Estate in Asheville, North Carolina; and Samantha was related to the famous architect, Frank Lloyd Wright. Sullivan Auctioneers are honored to sell this outstanding farm which has produced excellent crop yields for many generations.


    TRACT INFORMATION

    • 40 Taxable Acres
    • FSA maps indicate 39.03 NHEL cropland acres
    • The soil Productivity Index is 139.4 (Class A)
    • Soil types include Danabrook, Elpaso, Lisbon & Flanagan
    • Harrison Road borders along the east side of the farm

    METHOD & TERMS

    The farm will be sold on a price per acre basis, based on the taxable 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 March 24, 2022. The seller will provide title insurance in the full amount of the purchase price and pay the 2021 real estate taxes, due and payable in 2022. Possession at closing and the property sells free and clear of tenancy for 2022.

    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 all information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers, LLC pertaining to this property. Real estate is being sold “AS IS”.


    Representing Attorney:

    Timothy W. Kirk

    Heyl, Royster, Voelker & Allen

    300 Hamilton Boulevard | Peoria, IL 61602 | (309) 676-0400

     

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