TAMA COUNTY: 270 ACRES M/L
- The Dirt Dealer
- Apr 15
- 5 min read
Updated: Apr 30
OFFERED IN MULTIPLE TRACTS
FRIDAY, JUNE 20, 2025 at 2:00 PM
TAMA CIVIC CENTER
305 SIEGEL STREET
TAMA, IOWA
LISTING AGENTS:
LISTING # 25112
DESCRIPTION: 270 acres m/l to be offered in three individual tracts at auction on Friday, June 20th, 2025, at 2:00 P.M. Tract 1 consists of 150 acres m/l with 147.57 taxable acres m/l and 149 cropland acres m/l with a CSR2 of 85. Tract 2 consists of 40 acres m/l with 39 taxable acres m/l and 39 cropland acres m/l with a CSR2 of 91.7. Tract 3 consists of 80 acres m/l with 75.04 taxable acres m/l and 75 cropland acres m/l with a CSR2 of 83.8. The county average CSR2 being of Tama County is 70.3.
DIRECTIONS: Tract 1. From Gilman, Iowa, go east on County Highway 146 to county rock road B Avenue, then go south on B Avenue 1/2 mile. Tract 1 is located on the east side of B Avenue. Tract 2. From Gilman, Iowa, go east on County Highway 146 to county rock road B Avenue, then go south on B Avenue 3/8 mile. Tract 2 is located on the east side of B Avenue. Tract 3. From Gilman, Iowa, go east on County Highway 146 to county rock road B Avenue. Tract 3 is located in the NE corner of the intersection of Hwy 146 and B Avenue. Please watch for real estate signs.
TRACT 1: 150 ACRES M/L
LEGAL DESCRIPTION: (150 Acres M/L) Southwest Quarter (SW1/4) in Section Thirty-two (32), Township Eighty-two (82) North, Range Sixteen (16), West of the 5th P.M., Tama County, Iowa, Except Parcel 1732300001. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 149 acres (Est)
Corn Base: 97 acres PLC Yield: 176 bu.
Bean Base: 52 acres PLC Yield: 54 bu.
This farm is classified as Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $5,606/year. Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.
TRACT 2: 40 ACRES M/L
LEGAL DESCRIPTION: (40 Acres M/L) South Half of the South Half of the Northwest Quarter (S1/2 S1/2 NW1/4) in Section Thirty-two (32), Township Eighty-two (82) North, Range Sixteen (16), West of the 5th P.M., Tama County, Iowa. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 39 acres (Est)
Corn Base: 25 acres PLC Yield: 176 bu.
Bean Base: 14 acres PLC Yield: 54 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $1,626/year. Property taxes will be prorated to date of closing.
IMPROVEMENTS: This property is unimproved except for field drainage tile and perimeter fence.
TRACT 3: 80 ACRES M/L
LEGAL DESCRIPTION: (80 Acres M/L) South Half of the Southwest Quarter (S1/2 SW1/4) in Section Twenty-nine (29), Township Eighty-two (82) North, Range Sixteen (16), West of the 5th P.M., Tama County, Iowa. Please refer to abstract for exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 75 acres (Est)
Corn Base: 48 acres PLC Yield: 176 bu.
Bean Base: 27 acres PLC Yield: 54 bu.
This farm is classified as Highly Erodible Land. No Wetlands Determination is complete at this time.
PROPERTY TAXES: $2,764/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: All tracts are rented for the 2025 crop year. The current rent for that period is $240/acre based on FSA acres, and is normally paid on January 2, 2026. The rent due on January 2, 2026, will be retained 100% by the sellers. The lease for 2026 has been terminated.
Buyers on each tract to reimburse the tenant at closing for lime application in the following amounts: Tract 1: $1,978.48, Tract 2: $517.86, & Tract 3: $859.14.
TERMS AND CONDITIONS
SALE METHOD: Tracts 1, 2, & 3 will be offered as individual tracts and will not be combined. Tract 1 will be sold as 150 acres m/l, Tract 2 will be sold as 40 acres m/l and Tract 3 will be sold as 80 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 September 3, 2025, subject to the current cash rent lease and current tenant’s rights for the 2025 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 the advertised tracts only.
CLOSING: Closing will occur on or about September 3, 2025. 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 the advertised tracts 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.
ATTORNEY: William Lorenz
SELLERS: Edith M. Lovig Family 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 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.
