ILLINOIS RIVER BOTTOM
LAND AUCTION

SCOTT & MORGAN COUNTIES

Pessina Land Auction Results
Tract 1  $3,400.00
Tract 2  $6,600.00
Tract 3  $6,600.00
Tract 4  $6,600.00
Tract 5  $6,600.00
Tract 6  $5,800.00
Tract 7  $5,800.00

Monday   |   June 14   |   11 AM  

Auction Location

Evandy's Boatel

100 Bob Michael St.

Naples, IL

 

822 ACRES M/L  ●   8 TRACTS  ●   IRRIGATED FARMLAND  ●   GRAIN STORAGE   

LAKE-SIDE LOG HOME  ●   SMITH LAKE  ●   IL RIVER ACCESS

The Pessina Farms, LLC property is located in West-central IL 30 miles west of Jacksonville, IL or 60 miles east of Hannibal, MO just a short drive from I-72, approximately 2 miles north of Naples and 4 miles south of Meredosia, IL.  

 

Tracts 1 & 2 are contiguous on the west side of Smith Lake Rd, Tract 3 lies at the northeast corner of the T-road junction of Cemetery Rd and Old Naples Ln., Tracts 4, 5 & 8 are contiguous lying east of Smith Lake Rd and Tracts 6 & 7 are contiguous and lie east of Bunch Rd., all in Sections 32 & 33 of T.16N-R.13W of Morgan Co. and in Sections 5 & 6 of T.15N-R.13W in Scott Co., IL.  

●   633.89 ACRES M/L TILLABLE, IL RIVER BOTTOM FARMLAND  

●   570 ACRES M/L IRRIGATED FARMLAND IN TRACTS 3-7 


●   RECREATIONAL PARADISE: SMITH LAKE & IL RIVER ACCESS 


●    WHITETAIL DEER AND DUCK HUNTING ● HOMESITES  


●   3 BR LOG HOME, SHEDS ● 63,000 BU GRAIN STORAGE  


●   TREMENDOUS INCOME & INVESTMENT OPPORTUNITY!
 

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Tract 1: 196.56 acres m/l, 681 Smith Lake Lane Meredosia, IL, an excellent recreation property with Smith Lake ownership & access and a modern lake-side 3-bedroom log home “cabin” with a vaulted ceiling, lofted 3rd bedroom, stone fireplace, hardwood flooring, large screened-in porch, full amenities and sells furnished. Dense timber, brush and an approximately 50-acre Illinois River access paradise provide top shelf waterfowl and whitetail deer hunting potential, fishing, boating and much more. Smith Lake further offers secluded development potential with awesome lake-front building sites. A classic red barn/lean-to & shed provide equipment storage. Access to Tract 1 is from Smith Lake Rd. You have to see this once in a lifetime property to believe it! 

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Tract 2: 34.59 acres m/l, 32.23 acres tillable m/l- 93% tillable farmland. Dickinson, Ross & Plainfield soils. Lies west of Smith Lake Rd and SE of the Tract 1 log home. The levee from Smith Lake on the west will be maintained by Tract 2 owner. Tract 2 borders Tract 1 to the southeast.  

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Tract 3: 75.07 acres m/l, 73.6 cropland acres m/l- 98% tillable, level, Illinois River bottom farmland, electric motor system irrigated with Sparta and Plainfield soils. Cemetery Rd frontage on the south and Old Naples Ln. borders the west side. 

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Tract 4: 146.76 acres m/l, 143.54 cropland acres m/l- 98% tillable farmland with Sparta, Hoopeston & Ross soils. Center pivot irrigation unit. Lies east of Smith Lake Rd and is north of the companion farm, Tract 5.  

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Tract 5: 182.03 acres m/l, 182.03 cropland acres m/l- Nearly all tillable farm with Sparta, & Dickinson soils. Center pivot irrigation system. Borders Smith Lake Rd on the east and is south of the contiguous Tract 4. 

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Tract 6: 80.63 acres m/l, 80.63 cropland acres m/l- Nearly all tillable farmland with Sparta soils. Center pivot irrigation system. Tract 6 is flanked by Bunch Rd on the west and Norfolk Southern Railroad on the east. Lies north of the companion farm, Tract 7. 

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Tract 7: 121.86 acres m/l, 121.86 cropland acres m/l- Nearly all tillable farm with Sparta soils. Center pivot irrigation system with a corner system unit. Tract 7 is flanked by Bunch Rd on the west and Norfolk Southern Railroad on the east. Lies south of the contiguous Tract 6.

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Tract 8: Grain bin tract - 6 grain bins with approximately 63,000 bu total storage on 5.22 acres m/l. 3 modern bins with good floors, heaters, LP tanks and unloaders provide over 50,000 bu storage. Great location & access at the northwest corner of Tract 4 at the corner of Smith Lake Rd and Cemetery Rd. 

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Auction Procedure: Tracts 1-7 will be offered Buyers Choice on a dollar per acre basis until all 7 tracts are selected. Tract 8 will then be offered on a total dollar basis. Survey acreage figures will be used to calculate final valuation of Tracts 2 & 4-7.

 

Terms: Successful bidders will be required to sign a Memorandum of Agreement and pay a 10% down payment at the conclusion of the auction. The balance will be due at closing on or before Wednesday, July 14, 2021. Seller will provide title insurance in the amount of the purchase price. 2021 real estate taxes on Tract 1 will be prorated to the date of closing and on Tracts 2-8 will be paid solely by the Purchaser(s). 

 

2021 Cash Rent: Purchaser(s) of Tracts 2-7 will receive a credit at closing for the net amount of the 2021 cash rent payment available per the terms of the 2021 cash rent agreement. Contact Brian for details at 217-242-1665. 

 

Possession: 100% full possession will be granted on all tracts upon closing, subject to a Caretaker’s Agreement on Tract 1, and subject to the 2021 farm tenants crop removal on Tracts 2-7. Tracts sell free of any further leases or tenancies.  

 

Irrigation motors: The 4 diesel motors serving the irrigation wells on Tracts 4-7 are the property of the current farm tenant and may be purchased by the respective tract purchasers. Contact Brian for details at 217-242-1665. 

 

Property and all improvements sell 100% as-is with no guarantees or warranties of any kind. All information, acreage figures, maps, and representations provided are very approximate and are subject to change. Prospective bidders are welcomed and encouraged to fully inspect the property at their convenience, and all related information to their satisfaction, prior to bidding at the auction. Auction day announcements supersede prior information. 

Contact Brian Curless for information at 217-242-1665 or bcurless@irtc.net.

 

Attorney for Seller  

Bradley Wilson, Rammelkamp Bradney

232 W. State St. Jacksonville, IL

217-245-6177 

PESSINA FARMS LLC 

Auction