FRANKLIN COUNTY: 133 ACRES M/L
Updated: 7 hours ago
FRIDAY, NOVEMBER 13, 2026 at 10:00 AM
LATIMER COMMUNITY CENTER
104 N AKIR STREET
LATIMER, IOWA
LISTING AGENTS:
Kellen Suntken (515-571-8565)
LISTING # 26124
DESCRIPTION: 133 acres m/l to be offered at auction on Friday, November 13th, 2026, at 10:00 A.M. This property consists of 133 acres m/l, of which there are 132.11 taxable acres m/l and 134.2 cropland acres m/l. This tract has an average CSR2 of 85.8, with the Franklin County average CSR2 being 79.4.
DIRECTIONS: The farm is located directly on the south side of Latimer, east of Gull Avenue as you exit town. Please watch for real estate signs.
LEGAL DESCRIPTION: Northeast Quarter (NE1/4), Except Parcel 0630251003 and Parcel 0630251004, and Except all of the residential lots, all in Section Thirty (30), Township Ninety-two (92), Range Twenty-one (21), West of the 5th P.M., Franklin County, Iowa. For the precise legal description, refer to the property’s abstract or survey.
FARM PROGRAM INFORMATION:
Cropland: 134.2 acres
Corn Base: 129.08 acres PLC Yield: 151 bu.
Bean Base: 2.30 acres PLC Yield: 141 bu.
This farm is Non-Highly Erodible Land. There are 2.4 acres of farmed wetland on the farm.
PROPERTY TAXES: $3,938/year (Est). Property taxes will be prorated to date of closing.
IMPROVEMENTS: Improvements are field drainage tile.
TERMS AND CONDITIONS
FARM LEASE: The seller will retain 100% of the cash rent income from the 2026 crop year. The lease for 2027 has been terminated.
SALE METHOD: This tract will be offered as an individual tract of 133 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 December 30, 2026, subject to the current cash rent lease and current tenant’s rights for the 2026 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 on advertised tract only.
CLOSING: Closing will occur on or about December 30, 2026. The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer.
SURVEY: At the Seller’s option, the Seller shall provide a new survey where there is not an existing legal or where new boundaries are created. The Seller will be responsible for any survey costs on advertised tract only.
BIDDER REGISTRATION: All prospective bidders must register with the auction company and receive a bidder’s number in order to bid at the auction.
ONLINE BIDDING: Please visit our website to register for online bidding. Mid Iowa Real Estate, Auctions, & Appraisals cannot be held liable for any technical difficulties relating to the server, software, internet, or other online auction-related technologies. Bidders shall have no claims against the auction company or Sellers if their bids are not accepted.
CLOSING AGENT: Stephanie Brick Drey
SELLERS: CGB Farms LLC
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 to 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.