Mid Iowa Real Estate, Auctions, & Appraisals

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CERRO GORDO COUNTY: 309 ACRES M/L

TRACT #1 - $8,800/ACRE. TRACT #2 - $6,700/ACRE.

 

-OFFERED IN MULTIPLE TRACTS-

FRIDAY, OCTOBER 11th, 2019, at 10:00 AM

THORNTON COMMUNITY CENTER

333 MAIN STREET

THORNTON, IOWA

 

LISTING AGENT:

Jeffrey T. Obrecht (515-689-1648)

 

LISTING #19124

 

 

BROCHURE

 

TRACT #1 - AERIAL MAP

TRACT #2 - AERIAL MAP

TRACT #3 - AERIAL MAP

 

PLAT MAP

 

TRACT #1 - SOILS MAP

TRACT #2 - SOILS MAP

TRACT #3 - SOILS MAP

 

 

 

DESCRIPTION: 309 acres m/l to be offered in 3 tracts of 156 acres m/l, 153 acres m/l, and 309 acres m/l at auction on Friday, October 11, 2019, at 10:00 A.M. The total property consists of 309 acres m/l, of which there are approximately 299.69 taxable acres and 299.22 cropland acres m/l. This property as a whole has an average CSR2 of 83.2 with the county average CSR2 being 75.9.

 

DIRECTIONS: From Burchinal, Iowa, go south on County Blacktop S-34 to 190th Street, or from Rockwell, Iowa, go north on State Highway #65 to 190th Street, then west 4 miles on 190th Street. The 309 acres m/l is located in the SW corner of the intersection of S-34 & 190th Street. Please watch for real estate signs.

 

TRACT #1

LEGAL DESCRIPTION: (156 Acres M/L) The Northeast Quarter (NE1/4) of Section Twenty-three (23), Township Ninety-five (95) North, Range Twenty-one (21), West of the 5th P.M., Cerro Gordo County, Iowa, Except Parcel #102320000500 in the NW1/4 NE1/4.  Please refer to abstract for exact legal description.

 

This property consists of 156 gross acres m/l, with approximately 149.63 taxable acres and 155 crop acres m/l. This property has an average CSR2 rating of 83.6, with the county average being 75.9. 

 

FARM PROGRAM INFORMATION:

Cropland: 155 acres (Est)

Corn Base: 91 acres     PLC Yield: 154 bu.

Bean Base: 59 acres    PLC YIeld: 49 bu.

 

This farm is classified as Highly Erodible Land. No Wetlands Determination complete at this time. Of the above estimated 155 crop acres, there are 3.49 acres in CRP at $333.12/acre until 2026. The FSA office will be responsible for splitting the acres and bases on this parcel as the above numbers are estimates and are combined with the balance of the farm.

 

PROPERTY TAXES: $3956/year (Est)

Property taxes will be prorated to date of closing.

 

IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence. 

 

TRACTS #1, #2, & #3-FARM LEASE: Sellers are to retain all of the 2019 cash rent due for 2019. Contact the auctioneer for details. The lease for 2020 has been terminated.

 

TRACT #2

LEGAL DESCRIPTION: (153 Acres M/L) The Northwest Quarter (NW1/4) of Section Twenty-three (23), Township Ninety-five (95) North, Range Twenty-one (21), West of the 5th P.M., Cerro Gordo County, Iowa, Except the Railroad Right of Way. Please refer to the abstract for exact legal description.

 

This property consists of 153 gross acres m/l, with approximately 150.06 taxable acres and 144 crop acres m/l. This property has an average CSR2 rating of 82.8, with the county average being 75.9.

 

FARM PROGRAM INFORMATION:

Cropland: 144 acres (Est)

Corn Base: 90 acres             PLC Yield: 154 bu.

Bean Base: 52 acres            PLC YIeld: 49 bu.

 

This farm is classified as Highly Erodible Land. No Wetlands Determination complete at this time. Of the above estimated 144 crop acres, there are 3.34 acres in CRP at $333.12/acre until 2026. The FSA office will be responsible for splitting the acres and bases on this parcel as the above numbers are estimates and are combined with the balance of the farm.

 

PROPERTY TAXES: $3926/year (Est)

Property taxes will be prorated to date of closing.

 

IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.

 

TRACTS #1, #2, & #3-FARM LEASE: Sellers are to retain all of the 2019 cash rent due for 2019. Contact the auctioneer for details. The lease for 2020 has been terminated.

 

TRACT #3

LEGAL DESCRIPTION: (Combination, 309 Acres M/L) The North One-half (N1/2) of Section Twenty-three (23), Township Ninety-five (95) North, Range Twenty-one (21), West of the 5th P.M., Cerro Gordo County, Iowa, Except for the Railroad Right of Way and Except Parcel #102320000500 in the NW1/4 NE1/4.  Please refer to the abstract for exact legal description.

 

This property consists of 309 gross acres m/l, with approximately 299.69 taxable acres and 299.22 crop acres m/l. This property has an average CSR2 rating of 83.2, with the county average being 75.9.

 

FARM PROGRAM INFORMATION:

Cropland: 299.22 acres 

Corn Base: 181 acres              PLC Yield: 154 bu.

Bean Base: 111.30 acres        PLC YIeld: 49 bu.

 

This farm is classified as Highly Erodible Land. No Wetlands Determination complete at this time. Of the above estimated 299.22 crop acres, there are 6.83 acres in CRP at $333.12/acre until 2026. 

 

PROPERTY TAXES: $7882/year

Property taxes will be prorated to date of closing.

 

IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.

 

TRACTS #1, #2, & #3-FARM LEASE: Sellers are to retain all of the 2019 cash rent due for 2019. Contact the auctioneer for details. The lease for 2020 has been terminated.

 

LISTING #19124 TERM & CONDITIONS

 

SALE METHOD: Tract #1 and Tract #2 will be offered as individual tracts, with Tract #3 being offered as a  combination of  Tract #1 & Tract #2. Tract #1 will be sold as 156 acres m/l, Tract #2 will be sold as 153 acres m/l, and Tract #3 will be sold as 309 acres m/l.

 

MINERALS: All mineral interests owned by the Seller, if any, will be conveyed to the Buyer. 

 

EARNEST PAYMENT: A 15% earnest money payment is required on the day of the auction. The earnest payment may be paid in the form of cash or check. All funds will be held in the named attorney’s trust account.

 

POSSESSION: Possession will be granted at closing, on or about November 15, 2019, subject to the current cash rent lease and current tenant’s rights for the 2019 crop year.

 

CONTRACT AND TITLE: Immediately upon conclusion of the auction the high bidder will enter into a real estate contract and deposit with Mid Iowa Real Estate, Auctions, & Appraisals the required earnest payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon buyer financing. Seller to pay all escrow closing costs.

 

CLOSING: Closing will occur on or about November 15, 2019. The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer.

 

SURVEY: If one party buys Tract #3 or the combination, the Seller will not provide a survey to show the legal description of each parcel and the boundaries of each tract. If the tracts are sold to separate buyers, a survey may be done only to locate the boundaries between Tract #1 & Tract #2. Tract #1 will be sold as 156 acres m/l and Tract #2 will be sold as 153 acres m/l, with Tract #3 being sold as 309 acres m/l. The Seller will be responsible for any survey costs. 

 

BIDDER REGISTRATION: All prospective bidders must register with the auction company and receive a bidder’s number in order to bid at the auction.

 

ATTORNEY: Gary Berkland

 

SELLER: Alvin Dorenkamp Trust

 

This sale is subject to all easements, covenants, leases and restrictions of record. All property is sold on an “As Is—Where Is” basis with no warranties or guarantees, expressed or implied, made by the Realtor or Seller. All potential buyers are urged perform their due diligence on the subject property prior to the auction. All map boundaries are approximate, and photographs used may or may not depict the actual property. Total tract acres, tillable acres, FSA acres, etc. are approximate and may be subject to change. All bids will be on a per acre basis. Seller reserves the right to accept or reject any and all bids.

 

Mid Iowa Real Estate, Auctions, & Appraisals and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer will take precedence over any previous material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.

 

 

 

 

 

 

 

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