Dallas County, IA
140.00 Acres M/L

230th Street & K Avenue |
Adel, IA 50003 |
Listing #14439

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Property Info

Description

Farmland has a notable characteristic of being a tightly held asset with ownership transferring from generation to generation and very rarely comes up for sale to the public. Peoples Company is pleased to offer one of those rare occasions where farmland that has been owned by the same family since the late 1800’s will be made available and sold via public auction. The Lois M. Sutherland Estate consists of 140 acres m/l of high quality Dallas County, Iowa farmland and will be sold on Thursday, March 21st, 2019 at 10:00 AM. The auction will take place at the River Valley Golf Course in Adel, Iowa and will be sold “Absolute” to the highest bidder with no reserve.

This nearly 100% tillable farmland will be offered as two individual tracts under the “Choice” auction method where the high bidder will be able to choose Tract 1, Tract 2, or both tracts together. Tract 1 will be sold as 60 acres m/l and consists of 56.96 FSA tillable acres with a CSR2 rating of 88.4. Tract 2 will be sold as 80 acres m/l and consists of 75.68 FSA tillable acres with a CSR2 rating of 87. There is an acreage site with an older house and outbuildings that could be cleared for additional productive acres. Xenia Rural Water is installed on Tract 2 that extends on the east side of K Avenue. Either of these farms would be a great add-on unit for a current operation or for an investor looking to diversify their portfolio.

Both tracts have extensive private and county drainage tile with several intakes located on and near the farm (See Attached Tile Map for known tile location). Farming rights for 2019 will be available to Winning Bidder with immediate possession given. Primary soil types include high producing loam soils of Webster, Clarion, and Nicollet. Tracts are located just northwest of Adel, Iowa and located in Sections 27 & 35 of Washington Township with easy access to IA Hwy 44 and Co Rd P58. Grain markets are close with options between a variety of grain elevators and cooperatives.

Mark your calendars for this once in a lifetime event as this property will likely not be for sale for years to come.

Legal Description

Tract 1 (60 Acres M/L):
The South Sixty (60) acres of the Southeast Quarter (SE1/4) of Section 27, Township 80 North, Range 28 West of the 5th P.M., Dallas County, Iowa.
Tract 2 (80 Acres M/L):
North One-Half of the Northwest Quarter (N1/2 NW1/4) of Section 35, Township 80 North, Range 28 West of the 5th P.M., Dallas County, Iowa.

Details

FSA Cropland: 132.64
Corn: 65.5 base acres with a PLC Yield of 158
Soybeans: 65.4 base acres with a PLC Yield of 48
Farm is enrolled in ARC-CO.

*Farm Program Information for Tract 1 & Tract 2 are currently combined under Farm #2576 and Tract #3221. Base Acres will be adjusted per the default method when the farmland is reconstituted by the Dallas County FSA Office.

Directions

From Adel, Iowa: Travel north out of Adel on US Hwy 169 for 5 miles until reaching the intersection of US Hwy 169 & IA Hwy 44. Turn left (west) on IA Hwy 44 for 3 miles until K Avenue. Turn right (north) on K Avenue for 1 mile until reaching the intersection of 230th Street. Tract 1 will be located on the left (west) side of the intersection (K Avenue & 230th Street) and Tract 2 will be on the right (east) side of the road. Look for sign.

Sign On Property: Yes
MLS Number: 576770
Parcel Number: 0627400004, 0627400005, 0635100001, 0635100002
School District: ADM CSD
General Area: Northwest of Adel, Iowa
Gross Taxes: $4,452.00
Online Bidding: Yes
Auction Date: Mar 21, 2019
Possession: Given immediately to Successful Bidder and upon receipt / deposit of Earnest Money
Terms: Cash, Conventional

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Auction Details

Dallas County Land Auction
140 Acres M/L
Offered in Two Separate Tracts
Thursday, March 21st, 2019
10:00 AM

Sellers:
Lois M. Sutherland Estate

Attorneys:
Finneseth, Dalen & Powell: Scott C. Finneseth - Perry, Iowa
Peer, Nelson & Braland: Samuel H. Braland - Earlham, Iowa
Hopkins & Huebner: Adam Doll - Adel, Iowa

Auction Location:
River Valley Golf Course
22927 Valley View Trail
Adel, Iowa 50003

Auction Method: Farm will be offered in two individual tracts through a "Choice" Auction Sale Method. Both tracts will be sold absolute to the highest bidder and without any reserve.

Farm Program Information: Farm Program Information is provided by the Dallas County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Dallas County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in Peoples Company’s Trust Account.

Closing: Closing will occur on or about Friday, April 26th, 2019. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.

Possession: Possession of the farm will be given immediately to Successful Bidder and upon receipt / deposit of Earnest Money.

Farm Lease: The current farm lease has been terminated. Farm will be open for the 2019 season.

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer financing.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction.

Other: 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, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per acre basis. Peoples Company 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 or Listing Agents will take precedence over all previous marketing 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.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her own investigation of the property prior to bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from abstract.

Location

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Tract 1 - 230th Street & K Avenue, Adel , IA 50003

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Attachments

Description

Tract 1 will be sold as 60 acres m/l and consists of 56.96 FSA tillable acres with a CSR2 of 88.4. Soil types include Webster, Clarion, and Nicollet Loams. Farm is located in Section 27 of Washington Township, Dallas County, Iowa.

FARM DETAILS

FSA Cropland Acres: 56.96
Corn: 28.13 Base Acres (Estimated) with a PLC Yield of 158
Soybeans: 28.08 Base Acres (Estimated) with a PLC Yield of 48
Farm is enrolled in ARC-CO.

*Farm Program Information for Tract 1 is currently combined with Tract 2 under Farm #2576 and Tract #3221. Base Acres will be adjusted per the default method when the farm is reconstituted by the Dallas County FSA Office.

Legal Description

The South Sixty (60) acres of the Southeast Quarter (SE1/4) of Section 27, Township 80 North, Range 28 West of the 5th P.M., Dallas County, Iowa.

Details

Acres: 60.00 Acres M/L
Parcel Number: 0627400005, 0627400004
CSR2: 88.40

Directions

From Adel, Iowa: Travel north out of Adel on US Hwy 169 for 5 miles until reaching the intersection of US Hwy 169 & IA Hwy 44. Turn left (west) on IA Hwy 44 for 3 miles until K Avenue. Turn right (north) on K Avenue for 1 mile until reaching the intersection of 230th Street. Property will be located on the left (west) side of the intersection (K Avenue & 230th Street). Look for sign.

Tract 2 - 23076 K Avenue, Adel , IA 50003

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Attachments

Description

Tract 2 will be sold as 80 acres m/l and consists of 75.68 FSA tillable acres with a CSR2 of 87. Soil types include Clarion, Canisteo, and Nicollet Loams. Farm is located in Section 35 of Washington Township, Dallas County, Iowa.

The property features a vacant Single-Family 2 Story House that was built in 1900 and has 1,544 Sq/Ft of Total Living Area. Farm improvements include a Wood Utility Building with 480 Sq/Ft measuring 24' by 20' built in 1900, Poultry House with 800 Sq/Ft measuring 20' by 40' built in 1940, Barn with 768 Sq/Ft measuring 24' by 32' built in 1940, and two Cribs measuring 10' by 18' and 24' by 32'. Xenia Rural Water has a 2 inch water line that extends to the property running along the east side of K Avenue. There is a water pit installed on the property that is located on the north side of the 2 Story House.

Dwellings will be sold "As Is, Where Is". Buyer will be responsible for the cost of any improvement, replacement, or repairs to the current septic / wastewater treatment system.

FARM DETAILS

FSA Cropland Acres: 75.68
Corn: 37.37 Base Acres (Estimated) with a PLC Yield of 158
Soybeans: 37.32 Base Acres (Estimated) with a PLC Yield of 48
Farm is enrolled in ARC-CO.

*Farm Program Information for Tract 2 is currently combined with Tract 1 under Farm #2576 and Tract #3221. Base Acres will be adjusted per the default method when the farm is reconstituted by the Dallas County FSA Office.