Real Estate Auction Terms:

Announcements: Information provided herein was obtained from sources deemed reliable, but neither Richard A. Olson & Associates, Inc nor the Seller makes any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, its condition, and to rely on their own conclusions. All maps, dimensions, and acreage figures are approximate or "more or less". Any announcements made on auction day by Richard A. Olson & Associates, Inc will take precedence over any previous printed materials or oral statements.

Agency: Richard A. Olson & Associates, Inc and its representatives are acting as Agents of the Seller.

Farm Lease: The farm lease will be terminated at the end of 2024 after Seller's approval. The Seller retains Landlord's share of the 2024 crops and shall pay Landlord's share of the 2024 crop expenses.

Taxes: 2024 Real Estate Taxes (due in 2025) will be credited to the Buyer(s) at closing. All future taxes will be the responsibility of the Buyer(s).

Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold on an "AS IS-WHERE IS" basis with no warranties or guarantees, either expressed or implied, by the Seller or Richard A. Olson & Associates, Inc.

Survey: The Seller shall provide a new survey. The type of survey performed shall be at the Seller's option & sufficient for providing title insurance.

Contract and Title: Immediately upon conclusion of the auction, the high bidder(s) will enter into a Seller's real estate contract which provides all the terms and conditions. The Seller will provide title commitment in the amount of the contract price. Sale is not contingent upon Buyer(s) financing.

Down Payment/Non-Refundable Earnest Money: The successful bidder(s) will be required to deposit $50,000 earnest money (per tract) to be held by Seller's Attorney in an escrow account and will be applied to the purchase price. The down payment may be made in the form of cashier's check, personal check or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

Closing: The closing shall take place forty-five (45) days after August 20, 2024, or as soon thereafter as applicable closing documents are completed. The anticipated closing date is on or before October 4, 2024. The balance of the purchase price must be paid by wire transfer to account of settlement agent.

Possession: Possession will be granted on closing date.

Sale Method: The real estate will be offered on a total dollar amount, per tract. Bidding increments are solely at the discretion of the Auctioneer. No absentee or telephone bids will be accepted without prior approval of Richard A. Olson & Associates, Inc and Seller. Link to Internet Bidding: richardaolson.hibid.com. A 0.5% (1/2 of 1%) Buyers Premium applies to ONLINE bids only and will be added to the final bid. There is no Buyer's Premium to in-person (live) bidders. There will be no combinations. Each Tract will be offered individually with Seller's approval or rejection.

Disclaimer: All decisions of the Auctioneer are final. Neither the Auctioneer nor the online bidding software and service provider shall be held responsible for a missed bid or the failure of the software to function properly for any reason.

Approval of Bids: Final sale is subject to the Seller's approval or rejection.

www.richardaolson.com

PUBLIC REAL ESTATE AUCTION

OPEN HOUSE
TUESDAY, JULY 30, 2024
4:00 PM – 6:00 PM

Tuesday, August 20, 2024 @ 12:00 PM

Modern Commercial Shop/Office Building with 4 Additional Outbuildings on 8 Acres and an adjacent 32 Acres of Farmland.

Offered as Two Individual Tracts.

IN-PERSON & LIVE ONLINE BIDDING

Auction (Property) Location: 48W811 Melms Rd, Hampshire, IL 60140

Directions: Located near Hampshire IL in northwest Kane County with easy access to I-90. Corner of Walker Rd and Melms Rd in unincorporated Hampshire, IL.

5± mi NW of Hampshire IL
10± mi SW of Huntley IL
20± mi NE of DeKalb IL
20± mi NW of St Charles IL
35± mi SE of Rockford IL

ONLINE BIDDING LINK

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Seller: EVLA PROPERTIES LLC

TRACT 1 – Buildings Property:

This Tract consists of a 5000+ SqFt Heated Shop with 3000+ SqFt Office Area and 4 Outbuildings on approximately 8.50 Acres.

Built 2004 – 8210 Total Sq Ft.
5000+ SqFt Heated Shop includes: Atlas 15k lb Capacity 2-Post Lift, (3) 16’x16’ Overhead Doors, Delta 80-gal Air Compressor, Restroom, Ceiling Fans, Ceiling Exhaust.
3000+ SqFt Office Area – Partially Furnished, includes: Private Offices, Conference Room, Central Office Area, Kitchen, Storage, 2 Restrooms, Outdoor Patio, 4K Security Camera System, Alarm System.
Large Gravel Area with LED Lighted Yard Area and Material Storage Bins.
6.15 Acres is Zoned F2 – Agricultural Related Sales, Service, Processing, Research, Warehouse and Marketing.
Two Wells – Building and Irrigation.

Four Additional Outbuildings with over 6500 SqFt of Indoor Storage includes:
1 – Green Barn is a former dairy barn, concrete floors, power, 2 overhead doors, two floors.
2 – Older Shop (east of barn), concrete floors, heat and insulation, 8×15 overhead door, 100 amp power.
3 – Storage Building, dirt floors, sliding doors.
4 – Corn Crib near Melms Rd.

None of the property is in flood zone according to FEMA map.

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TRACT 2 – Farmland:

This Tract consists of approximately 31.50 acres of Farmland adjacent to the Building Tract.
Approximately 24 tillable acres in its current state.
Final acres will be posted after the survey is completed.
Located at the corner of Melms Rd and Walker Rd.
Approximately 625’ of Melms Rd frontage.
Approximately 1/4 mile of Walker Rd frontage.

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Tax Bill & Property Information:

At time of this advertising, the Buildings and Farmland were under ONE TAX PIN. Before Auction Day, they will be divided, and surveys will be posted online when complete.

PIN: 01-08-300-001
NW1/4 of SW1/4 of Sec 8 – Hampshire Township – Kane County IL
40 Acres
Tax Rate: 7.371803
2023 Taxes $13,891.28
Cropland – 33.63 AC
Homesite – 4.61 AC
Non-Ag – 1.76 AC
Tax Districts: Dundee School District 300, Hampshire Fire District, Elgin College 509, Kane County, Hampshire Twp Road Dist, Hampshire Park Dist, Kane Forest Preserve, Ella Johnson Library, Hampshire Twp, Hampshire Cemetery, NW Kane Airport Authority.

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Auction Terms:

Announcements: Information provided herein was obtained from sources deemed reliable, but neither Richard A. Olson & Associates, Inc nor the Seller makes any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, its condition, and to rely on their own conclusions. All maps, dimensions, and acreage figures are approximate or “more or less”. Any announcements made on auction day by Richard A. Olson & Associates, Inc will take precedence over any previous printed materials or oral statements.

Agency: Richard A. Olson & Associates, Inc and its representatives are acting as Agents of the Seller.

Farm Lease: The farm lease will be terminated at the end of 2024 after Seller’s approval. The Seller retains Landlord’s share of the 2024 crops and shall pay Landlord’s share of the 2024 crop expenses.

Taxes: 2024 Real Estate Taxes (due in 2025) will be credited to the Buyer(s) at closing. All future taxes will be the responsibility of the Buyer(s).

Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold on an “AS IS-WHERE IS” basis with no warranties or guarantees, either expressed or implied, by the Seller or Richard A. Olson & Associates, Inc.

Survey: The Seller shall provide a new survey. The type of survey performed shall be at the Seller’s option & sufficient for providing title insurance.

Contract and Title: Immediately upon conclusion of the auction, the high bidder(s) will enter into a Seller’s real estate contract which provides all the terms and conditions. The Seller will provide title commitment in the amount of the contract price. Sale is not contingent upon Buyer(s) financing.

Down Payment/Non-Refundable Earnest Money: The successful bidder(s) will be required to deposit $50,000 earnest money (per tract) to be held by Seller’s Attorney in an escrow account and will be applied to the purchase price. The down payment may be made in the form of cashier’s check, personal check or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

Closing: The closing shall take place forty-five (45) days after August 20, 2024, or as soon thereafter as applicable closing documents are completed. The anticipated closing date is on or before October 4, 2024. The balance of the purchase price must be paid by wire transfer to account of settlement agent.

Possession: Possession will be granted on closing date.

Sale Method: The real estate will be offered on a total dollar amount, per tract. Bidding increments are solely at the discretion of the Auctioneer. No absentee or telephone bids will be accepted without prior approval of Richard A. Olson & Associates, Inc and Seller. Link to Internet Bidding: richardaolson.hibid.com. A 0.5% (1/2 of 1%) Buyers Premium applies to ONLINE bids only and will be added to the final bid. There is no Buyer’s Premium to in-person (live) bidders. There will be no combinations. Each Tract will be offered individually with Seller’s approval or rejection.

Disclaimer: All decisions of the Auctioneer are final. Neither the Auctioneer nor the online bidding software and service provider shall be held responsible for a missed bid or the failure of the software to function properly for any reason.

Approval of Bids: Final sale is subject to the Seller’s approval or rejection.

Seller: EVLA PROPERTIES LLC

Seller’s Attorney: John Hoscheit
Hoscheit, McGuirk, McCracken & Cuscaden, P.C.
1001 East Main St, Suite G
St. Charles, IL 60174-2203
Phone: 630-513-8700

Please contact our Auction and Real Estate office with any questions.

Auction conducted by Richard A. Olson & Associates, Inc.
Dick Olson – Richard A. Olson & Assoc, Inc
IL License #440.000585
Erik Olson – Lucky Auctions LLC
IL License #441.001909
531 Bedford Rd, Morris, IL 60450
(815) 942-4266
www.richardaolson.com