Agricultural Land for Auction in Toluca, Illinois

Auction is to be conducted in-person & online Thursday, October 24th - 10:00AM Central.

Auction Venue Location: American Legion Post 440, 115 W. Santa Fe Ave., Toluca, IL 61369

Proxibid Link for online bidding: Click Here

Located approximately 1 +/- mile east of Toluca, IL in Section 10, T29N-R1E, Bennington Township, Marshall County, Illinois. There are 80+/- taxable acres offered as a single tract. The farm represents highly productive tillable farmland with Class A soil.

Average Productivity Index (PI): 132.5

57 acres of tillable between 133-139 PI

49.77 acres of Rutland Silt Loam

19.59 acres of Streator Silty Clay Loam

7.25 acres of Sawmill Silty Clay Loam

Located the corner of County Road 500 North & County Road 2800 E, Toluca, Illinois. Property is 2.5 +/- miles west of Rutland, legally described as: S10 T29 R1E NW 1/4 NW 1/4 & N 1/2 S 1/2 NW 1/4. Parcel ID#: 14-10-100-005.

Seller: James V Serafin Trust & Joyce B Helander-Serafin Trust

Auctioneer: Norm Willoughby

Managing Broker: Andrew Schultz

Agent/Primary Contact: Brody Elliott (309) 238-1496

Method & Terms

The Serafin Farm will be sold on a price-per-acre basis, based on taxable acres. This tract is being sold absolute, without reserve.

Immediately following the auction, the successful buyer will be required to sign a real estate sales contract and pay 10 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 Wednesday, November 27th, 2024.

The seller will provide title insurance in the full amount of the purchase price. Seller will pay all if the 2024 real estate taxes, due and payable in 2025 through a credit at closing.

The seller shall receive the Landowner share of the crop or 100% of the total cash rent for the 2024 crop year. Open lease for 2025 crop year. The buyer will receive and seller will convey all of seller's water, oil, gas, coal and other mineral rights not conveyed of record.

Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property.

On-site bidders are required to bring a valid government-issued ID and proof of funds/preapproval letter.

If the winning bid is online, you will be immediately contacted to make arrangements for the ten percent (10%) down payment and a purchase contract will be sent electronically for e-signature.

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, auctioneer, or Arrowhead Land Company and its affiliates, pertaining to this property. Real estate is being sold "AS IS".