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Prairie Land Machining LLC. No Reserve Online Only Real Estate Auction

Online Only Auction will start to close on Tuesday November 3rd^th @ 10:00AM

813 West South 5^th Street Shelbyville IL 62565

The 50' x 60' building is constructed on a stem wall. It includes an office with baseboard heat, central air throughout, and radiant heat in the shop. The 9' high by 12' wide overhead garage door has an opener. Ceiling heights are 11' in one half of the shop and 9' in the other. The well-insulated building had approximate monthly power bills of $250 in 2024 and 2025 and is served by Ameren natural gas and electricity and city water. Other features include a bathroom with a large commercial sink and shower, single-phase and three-phase electrical service, and a 15-gallon electric water heater. Approximately half of the shop was built 15 years ago. An older building south of the main shop has been used only for storage. The lot is 120’x 60’.

Open House/Preview Days

Wednesday October 21^st from 10-12noon

Monday October 26^th from 10-12noon

Parcel No. 2013-18-05-114-007: 2025 property taxes, payable in 2026, totaled $1,940.02.      

LEGAL DESCRIPTION: S18 T11N R4E~LOT 7 BLK 36 ~CRANE & STEVENSONS ADDN ~66' X 120'

Property and building measurements: All measurements are estimates and should be verified by buyers. While we measured structures, errors may occur; therefore, the auction company and sellers are not liable for inaccuracies.

Bidding Method: Auction is by the TRACT not by the acre. $500.00 bid increments.

Bid extension: If a bid is placed on the real estate with less than 3 minutes left, 3 additional minutes will be added to that tract's auction time. The auction will begin to close on Tuesday Nov. 3^rd @ 10am

Bidding Increments: $500 per bid increments. The purchase price is fixed, regardless of future surveys.

Down Payment & Closing: A down payment equal to 10% of the total purchase price is required on the day of the auction or the subsequent day. The remaining balance must be paid at closing, which is scheduled approximately 40 days after the auction. The down payment will be held in escrow at the title company in the event of buyer default at closing, the seller will retain the 10% down payment.

Purchase Agreement: All successful bidders are required to execute purchase agreements on Tuesday Nov 3^rd or Wednesday Nov 4th. Agreements may be completed either in person or through DocuSign.

Condition: Real estate is sold “As Is.” Buyers should independently inspect and verify all details, as maps and measurements are only estimates. The auction company and sellers are not responsible for any inaccuracies.

Announcements: Auction day announcements take precedence over printed materials.

Liability: Schmid Auction and Prairie Land Machining. disclaim any responsibility for accidents. Successful bidders are prohibited from moving items onto the property or occupying it until the real estate transaction has been finalized.

Buyer is responsible for all loan-related fees, recording the deed and mortgage, half the settlement fee, date down search, and wire fee. Seller covers deed preparation, transfer stamps, owner policy fees, initial search fee, half the closing fee, and document preparation. Taxes will be prorated as of the closing date.