72.45 acres of highly tillable productive farmland located northeast of Fairfield, IL
Legal:
PIN: 16-31-025-006-00; 16-31-025-004
Part of the W 1/2 SE 1/4 Sec. 31, T1S R9E 3rd P.M., Wayne County, Illinois
Directions: From Fairfield, IL go east on Hwy. 15 5mi. to CH 21 (2400E) turn north and go 2mi. to CR 950N turn east and go 1/2mi. The property is on the south side of the road.
(Approx. 7mi. NE of Fairfield, IL; Approx. 40 miles E of Mt. Vernon ,IL; Approx. 70 miles NE of Evansville, IN)
Lot Size: 72.45 acres
Tillable Acres: 96% tillable being 67.17 acres in row crop production and 2.57 acres in CRP paying $185.94/ac = $478/yr.
Mineral Rights: Sellers retain 1/2 of their mineral rights. Sellers believe they own 100% of the mineral rights on this property. There is a producing oil well on this farm that the new owner’s will receive 1/2 of the royalty interest. For an additional cost the well can also be purchased.
Possession: At closing – subject to present tenancy agreement. Farm has open tenancy for the 2024 farming season.
Rent Agreement: Open tenancy for 2024 farming season. Farm is currently being rented on a 1/3 – land owner and 2/3 – tenant agreement.
Soil Types Tillable Acreage: Sexton, Wynoose, Bonnie, Henshaw, Racoon, Piopolis, Plumfield, Bluford
Crop Productivity Index: 109.2
Real Estate Taxes: $1,741.60 – 2022 taxes
Other Income:
- Flowline rental across property – $180/yr.
- Current hunting lease – $1,725/yr.
- 2022 oil well royalty income – $1,239.57
This is an outstanding farm with road frontage on two sides that produces income from multiple sources. The property is 96% income producing and also has a large amount of passive income. Productive farmland is very difficult to purchase in todays market and this farm offers almost 100% tillable acres with outstanding income.
