Description
Live & Online Auction: Waterloo Country Club Lane
174 ± Acres, Monroe, IL - 6 Tracts - SOLD AT AUCTION
Tract Breakdown:
Tract 1 (sold individually): $20,000.00 an acre
Tracts 2 & 3: $25,581.40 an acre
Tracts 4 & 5: $21,120.69 an acre
Tract 6 (sold individually): $13,914.05 an acre
Property to be Auctioned Live (with Online bidding available) October 29th, 2024 @ 6:00 PM
Online Bidders can begin the simulcast to listen and bid with the live auction until it closes.
Live Auction Location: Monroe County Fairgrounds (Address: 4177 State Route 156, Waterloo, IL 62298)
Address: 166 Country Club Ln, Waterloo, IL 62298
Location, Location, Location! This exceptional 174-acre farm is located at the end of Rogers Street, where it seamlessly transitions into Country Club Drive in Waterloo, IL. With city limits bordering the far east side of the property, this expansive farm offers a mix of fertile, tillable cropland and picturesque views.
The property includes a charming farmstead, home to an older historic residence. With thoughtful restoration, this home offers an exciting opportunity to preserve a piece of local history while creating something new.
Important Note: As this farm is connected so closely to Waterloo, there are changes planned for Country Club Road. The county has plans to redirect this road, transforming it into a dead end public road. Buyers should review the attached documents for further details on the potential impact of this change.
This property is being offered in 6 tracts, with the flexibility to purchase individually or in combination:
**Updated Acreages**
- Tract 1: 10.5 +/- acres of mostly tillable land with a scenic pond. Please see the attachment for details on the Country Club redirection and its impact on this tract. The city and county has indicated that the entry point for this tract will be approved on the north side of this property.
- Tract 2: 11 +/- acres of mostly tillable land. Again, see the attachment for details regarding the redirection of Country Club Road and its impact.
- Tract 3: 10.5 +/- acres, including the farmstead and historic home.
- Tract 4: 19.4 +/- acres of mostly tillable land with road frontage on Country Club Lane, which is slated to become a dead end public road.
- Tract 5: 38.6 +/- acres with frontage on Rogers Street, including existing farm access and an established turn lane in front of Rogers Street. Please see the attachment regarding restrictions or additional access options from Rogers Street.
- Tract 6: 86.1 +/- acres of mostly tillable land, bordered by city limits on the east side. This tract also has frontage on Country Club Lane, which will be redirected into a dead end public road.
This is an incredible opportunity to invest in versatile land close to Waterloo's growing community, with flexibility in purchase options and a historic gem waiting to be restored.
Land is going to be surveyed, survey to govern.
Legal Description: Part of Section 18, T.2 S.- R.9 W.
Parcel(s): 08-18-300-001-000
2023 Taxes: $4,819.62
Showings are by appointment only.
TERMS AND CONDITIONS
Pre-Bidding Begins Online: 10/17/2024
Property to be Auctioned Live (with online bidding available) October 29th, 2024 @ 6:00 PM
Location of Live Auction: Monroe County Fairgrounds (Address: 4177 State Route 156, Waterloo, IL 62298)
Seller reserves the right to accept or reject the high bid.
NO MAX BIDDING: THERE WILL NO MAX BIDDING FOR THIS AUCTION, this is NOT ebay style bidding. Whatever number you type in is your bid.
COMBINATION BIDS: This property can sell as an individual tract or in combination of the tracts 1-6. Combination bidding will be opened up during the live auction.
Registration: Proper and complete registration is required to bid. All bidders must provide name, address, phone number and email address to register - To complete the bidding process Property Peddler will require a copy of a current state ID – a Property Peddler Team member will call to request it before approving to bid online. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Auctioneer reserves the right to refuse to register or admit Buyer at his/her sole discretion. Buyer should register as early as possible to obtain information about the property and increase the likelihood of being notified of any pertinent changes that take place before the auction. Live auction participants will be able to provide proper identification before the live auction starts at the hall day of sale.
Contract: Successful high bidders will sign in person or electronically the auction sales contract immediately after the sale.
Earnest Money: The day of sale, the approved high bidder will deposit a non-refundable payment of 10% down - deposited with Monroe County Title Company. Any stop payment order of a check or giving a check which is returned marked “insufficient funds,” shall be deemed by the parties to be evidence of fraud existing at the time the transaction was consummated and shall be construed by the parties as intent to defraud.
Closing: On or before December 13, 2024 Or within 10 day after completed survey if the survey is not completed before December 13th 2024
Closing Cost: Buyer shall pay the purchase price, plus any customary closing costs. The closing costs may include but are not limited to the following: escrow/closing fees, recording fees, normal pro-rations, and/or document fees such as later date charges or wiring fees brought on by the title company. Any and all fees related to buyer’s financing.
Title Company: Monroe County Title Company
Mineral Rights: Any mineral rights owned will sell with the property. No mineral search performed.
Possession: Subject to current farm lease, possession of tillable ground at fall harvest of 2024, or Jan 1st 2025 whichever comes first.
Tax Proration and Responsibility: The Buyer will receive a credit for the 2024 taxes based on the most recent tax assessment. The Buyer will be responsible for all taxes due after closing. It is understood that the tax proration is calculated using information provided by the Assessor's Office, and it is to the best of the Seller's and Auction Company's knowledge. Neither the Seller nor the Auction Company is responsible for any discrepancies in the tax credit after closing, and any shortage or overage will be the responsibility of the new owner, even if the tax bills do not match the split in the sale.
Financing: Your bidding is not conditional on financing, make your arrangements before bidding. Not contingent on appraisal.
Survey: Land to be surveyed at seller’s expense - Final price of tracts will be adjusted to the final surveyed acre number (once survey is completed) multiplied by the final price per acre. Survey is expected to be completed after the auction day, if sold as a whole tract divisions will not be surveyed.
DISCLAIMER AND ABSENCE OF WARRANTIES: Subject to all easements, covenants, and restrictions on record. All information contained herein, and all related materials are subject to the terms and conditions outlined in the agreement to purchase. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller(s) or the auction company. Each potential bidder is responsible for conducting his or her independent inspections, investigations, inquiries, and due diligence concerning the property. The figures, estimates, and drawings of acreages and boundary lines in the printed material or on the website are approximate and are not guaranteed. The information provided here is believed to be accurate but is subject to verification by all parties relying on it. The Seller(s) or the auction company or their agents assume no liability for its accuracy, errors, or omissions. It is the responsibility of each bidder to make sure that the Auctioneer is aware of his or her intent to place a bid. Auctioneer disclaims any liability for damages, whether direct, indirect, consequential, or incidental, resulting from bids not spotted, executed, or accepted. Bidders should also be careful to bid on the correct item and ensure that his/her bid is for the amount intended. Auctioneer is not responsible for errors in bidding, and Buyer hereby releases the Auctioneer and waives any claims for bidding errors. The sale is complete when the Auctioneer announces in a customary manner. The auctioneer is not responsible for errors in the internet connection or the functioning of the computer system at that time. Conduct at the auction and increments of bidding are at the direction and discretion of the Auctioneer. The seller and auction company reserve the right to disqualify or refuse any bid from the person if there is any question as to the person’s credentials, fitness, etc. All decisions of the Auctioneer are final, and all announcements made the day of the sale by the Auctioneer will take precedence over printed or spoken information made prior. The Auction Company, Auctioneer, and/or staff of Property Peddler Inc. reserves the right to bid. Auctioneer has the right to cancel the auction. Property Peddler Inc., staff and agents work for and are agents of the Seller Only in an auction situation. IF the buyer has signed an exclusive agency agreement with a Real Estate Broker then the buyer will be responsible for the cost of their buyer’s agency commission. Heirs of the trust have the right to bid.
Auctioneer Brad Chandler / IL Lic. # 441.002105 / Broker License # 475.16227
PP# 879A / SOLD for $3,183,000 on 12/13/24
Listed with Property Peddler Inc.
Designated Managing Broker Brenda Chandler 618-201-3947
Auctioneer/Broker Brad Chandler 618-791-3289
