GRUNDY COUNTY: 393 ACRES M/L
TRACT #1 - $17,300/ACRE
TRACT #2 - $16,400/ACRE
TRACT #3 - $19,100/ACRE
WEDNESDAY, FEBRUARY 23, 2022, at 10:00 AM
ACKLEY RECREATION CLUB
902 8TH AVE
ACKLEY, IOWA
LISTING AGENT:
LISTING #22105
DESCRIPTION: 393 acres m/l to be offered in three individual tracts at auction on Wednesday, February 23rd, 2022, at 10:00 A.M. Tract #1 consists of 116 acres m/l, of which there are an estimated 112.5 taxable acres and 114.22 cropland acres m/l. Tract #2 consists of 120 acres m/l with an estimated 119 taxable acres and 117 cropland acres m/l. Tract #3 consists of 157 acres m/l with an estimated 153.5 taxable acres and 154.72 cropland acres m/l. Tract #1 has an average CSR2 of 92.3, Tract #2 has an average CSR2 of 86.9, Tract #3 has an average CSR2 of 88.5, with the county average CSR2 being 87.2.
DIRECTIONS: Tract #1 & #2-From Ackley, Iowa, go south on County Blacktop S-56 to 140th Street, then east on 140th Street 2.5 miles. Tracts #1 & #2 are located on the south side of 140th Street, or from Wellsburg, Iowa, go north on County Blacktop T-19 to 140th Street, the west on 140th Street 3 miles. Tracts #1 & #2 are located in the SW corner of the intersection of 140th street and C Avenue. Tract #3-From Ackley, Iowa, go east on County Highway #57 and then east on Westbrooke Street to H Ave., then south on H Ave. 1 mile to 110th Street, or from Wellsburg, Iowa, go north on County Blacktop T-19 to 110th Street, then east on 110th Street 1.5 miles. Tract #3 is located on the south side of 110th Street. Please watch for real estate signs.
TRACT #1
LEGAL DESCRIPTION: (116 Acres M/L) The North One-Half of the Northeast Quarter (N1/2 NE1/4); Northeast Quarter of the Northwest Quarter (NE1/4 NW1/4) of Section Twenty-nine (29), Township Eighty-nine (89) North, Range Eighteen (18), West of the 5th P.M., Grundy County, Iowa, Except Parcel #329-B (BK 73-H PG 0213). Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 114.22 acres (Est)
Corn Base: 77 acres PLC Yield: 134 bu.
Bean Base: 33 acres PLC Yield: 40 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $3,686/year (Est). Property taxes will be prorated to date of closing.
IMPROVEMENTS: This farm has been pattern tiled and drains very well. Please see the website for tile maps.
TRACT #2
LEGAL DESCRIPTION: (120 Acres M/L) The South One-Half of the Northeast Quarter (S1/2 NE1/4); Southeast Quarter of the Northwest Quarter (SE1/4 NW1/4) of Section Twenty-nine (29), Township Eighty-nine (89) North, Range Eighteen (18), West of the 5th P.M., Grundy County, Iowa. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 117 acres (Est)
Corn Base: 79 acres PLC Yield: 134 bu.
Bean Base: 34 acres PLC Yield: 40 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $3,900/year (Est). Property taxes will be prorated to date of closing.
IMPROVEMENTS: This farm has been pattern tiled and drains very well. Please see the website for tile maps.
TRACT #3
LEGAL DESCRIPTION: (157 Acres M/L) Northeast Quarter (NE1/4), Except the East 312’ of the West 935’ of the North 350’, all in Section Seven (7), Township eighty-nine (89) North, Range Seventeen (17), West of the 5th P.M., Grundy County, Iowa. Please refer to the abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 154.72 acres
Corn Base: 108 acres PLC Yield: 134 bu.
Bean Base: 46 acres PLC Yield: 40 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $5,352/year. Property taxes will be prorated to date of closing.
IMPROVEMENTS: This farm has been pattern tiled and drains very well. Please see the website for tile maps.
TERMS AND CONDITIONS
FARM LEASE: All three tracts are rented for the 2022 crop year. Please contact the auctioneer for details. The lease for 2023 has been terminated.
SALE METHOD: Tracts #1, #2, and #3 will be offered as individual tracts and will not be combined. Tract #1 will be sold as 116 acres m/l, Tract #2 will be sold as 120 acres m/l, and Tract #3 will be sold as 157 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 April 15, 2022, subject to the current cash rent lease and current tenant’s rights for the 2022 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 April 15, 2022. 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.
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.
ATTORNEY: Mike Smith
SELLER: Kenneth Thompson Estate
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. SALE IS SUBJECT TO COURT APPROVAL.
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.