Des Moines County, Iowa & Louisa County, Iowa Land Auction – 587± Acres – 8 Tracts

MEDIAPOLIS, IOWA

Auction to be held at St. Mary’s Parish Hall, 13204 Dodgeville Rd. Sperry, IA

Open House on Wednesday, November 6^th from 10-11AM.

587.5 Acres M/L – SELLS IN 8 TRACTS
Selling Free and Clear for the 2020 Farming Season

TRACT #3 – Home on 4 Acres M/L (WILL NOT BE SELLING) 

Auctioneer’s Note:All tracts will be sold by the acre, except Tracts #3 & 8 will be sold lump sum price.  Tracts #1-3 will be sold in order.  Then Tracts #4 & 5 will be sold Choice with the Privilege, whereas the high bidder may choose Tract #4 or Tract #5 or both tracts, times their high bid.  This will continue until both tracts are sold.  Then Tracts #6-8 will be sold in order.  Tracts will not be recombined.

Tract #1 – 56.59 Acres M/L
Land is located 5 ½ miles south of Mediapolis on Highway 61, then ½ mile east on Stony Hollow Road.

FSA indicates: 56.70 acres tillable.
Corn Suitability Rating 2 of 86.2 on the tillable.
Located in Section 25 & 26, Franklin Township, Des Moines County, Iowa.

Real Estate Taxes on Tract #1
Net                              $1,922.00 (Rounded)

Tract #2 – 115.40 Acres M/L
Land is located 5 ½ miles south of Mediapolis on Highway 61, then 2 miles west on Dodgeville Road.

Approx. 96 acres tillable.
Corn Suitability Rating 2 of 81.9 on the tillable.
Located in Section 21, Franklin Township, Des Moines County, Iowa.

Real Estate Taxes on Tract #2
Net                              $3,362.00 (Approx.)

TRACT #3 WILL NOT BE SELLING

Tract #4 – 58 Acres M/L – (Subject to final survey)
Land is located 1/2 mile south of Yarmouth, IA on H28, then ¾ miles east on 230^th Street.

FSA indicates: 57.02 acres tillable.
Corn Suitability Rating 2 of 89.7 on the tillable.
Located in Section 27, Washington Township, Des Moines County, Iowa.

Real Estate Taxes on Tract #4
Net                              $1,964.00 (Approx.)

Tract #5 – 98 Acres M/L – (Subject to final survey)
Land is located 1/2 mile south of Yarmouth, IA on H28, then ¾ miles east on 230^th Street.

FSA indicates: 93.15 acres tillable.
Corn Suitability Rating 2 of 80.4 on the tillable.
Located in Section 27, Washington Township, Des Moines County, Iowa.

Real Estate Taxes on Tract #5
Net                              $3,064.00 (Approx.)

Tract #6 – 80 Acres M/L
Land is located 1 mile south of Morning Sun on County Road X37, then ½ mile east on 10^th Street.

FSA indicates: 78.88 acres tillable.
Corn Suitability Rating 2 of 85.3 on the tillable.
Located in Section 31, Morning Sun Township, Louisa County, Iowa.

Real Estate Taxes on Tract #6
Gross                          $3,576.83
Ag. Credit                  ($130.37)
Net                              $3,446.00 (Rounded)

Tract #7 – 173.01 Acres M/L
Land is located 4 miles south of Pleasant Grove on Beaverdale Road, then 1 ½ miles east on 165^th Street.

FSA indicates: 96.7 acres tillable, balance being timber.
Corn Suitability Rating 2 of 69.1 on the tillable.
Located in Section 25, Pleasant Grove Township, Des Moines County, Iowa

Real Estate Taxes on Tract #7
Net                              $3,565.00 (Approx.)

Tract #8 – Home on 2.5 Acres M/L – (Subject to final survey)

The home is located 4 miles south of Pleasant Grove, IA on Beaverdale Road, then 1 ½ miles east on 165th Street.  Address is 17035 165th Street, Sperry, Iowa.

This three bedroom, 1 bath home was built in 1920 with 1,232 sq.ft. of total living space.  Outbuildings include: 62’x70’ barn, 22’x26’ detached garage, 24’x100’ shed, 20’x46’ shed, 20’x20’ shed and (3) concrete silos of 8,078 bu., 6,463 bu. & 4,948 bu.

Not included:LP tank, All livestock equipment of tenant’s.

Included:Appliances

Real Estate Taxes on Tract #8
Net                              $1,063.00 (Approx.)

TERMS ON ALL TRACTS

Terms:10% down payment on November 20, 2019.  Balance due at closing with a projected date of January 6, 2020, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of January 6, 2020. (Subject to tenant’s rights on the tillable land & Tracts #3 & 8.)
Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years.

Special Provisions:

• The seller has served termination to the tenant on the tillable ground and is selling free and clear for the 2020 farming season.
• Tract #3 is rented on a month to month basis and is selling subject to tenant’s rights.  The rent is $750 per month and the rent will be prorated to the date of closing.  Any security deposits, if any, will be transferred at closing.  It is the responsibility of the new buyer to give tenant notice, if so desired.
• It shall be the obligation of the buyer(s) to report to the appropriate County FSA office and show filed deed(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs.  C.  Final tillable acres will be determined by the FSA office.
• Tracts #3, 4, 5 & 8 will be surveyed.  Seller shall not be obligated to furnish a survey on any other tracts.  If the recorded survey is different than the announced surveyed acres, adjustments to the final contract price will be made accordingly at closing on only the Tracts where the surveyed acres were used for the multiplier.
• Tracts #3 & 8, it shall be the buyer’s responsibility and expense to acquire the DNR Time of Transfer certificate for the septic system.  This shall include, but not limited to, the expense to inspect, repair and/or update the septic system (if needed) and have said septic system pumped (if needed).  It shall be the buyer’s responsibility to correspond with the Des Moines County Sanitarian and have the proper paperwork completed prior to closing.
• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
• Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.
• The buyer(s) shall be responsible for any fencing in accordance with Iowa state law.
• If one buyer purchases more than one tract, the seller shall only be obligated to furnish one abstract and deed. (husband & wife constitute one buyer)
• The buyer(s) shall be responsible for installing his/her own entrances if needed or desired.
• If in the future a site clean-up is required it shall be at the expense of the buyer(s).
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer(s) are buying this real estate in its “as is” condition and there are no expressed or implied warranties pertaining to the real estate.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Owners: Wischmeier Farms, Inc.
William J. Cahill – Attorney for Sellers

For details contact auction manager, Nate Larson of Steffes Group, 319.385.2000 or by cell, 319.931.3944

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