Property Info

Description

Rare opportunity to own farmland in Cerro Gordo County just north of Clear Lake, Iowa!  This farm consists of 65.76 acres m/l with 54.93 acres currently in row crop production with a CSR2 rating of 75.5. The balance of the property includes 2.8 acres enrolled in two CRP (Conservation Reserve Program) contracts until 2022 with an annual payment of $547. CRP practices include the CP-27 and CP-28 farmable wetlands programs. Extensive drainage tile has been installed on the farm with several intakes (see attached tile map for known tile locations). This property would be a great add-on unit for a current operation. It would also be an ideal tract for an investor wishing to diversify their portfolio. Grain markets are close with a variety of grain elevators and cooperatives. Property also offers recreational opportunities with planted trees and a small pond. The farm is located in Section 36 of Grant Township and has been leased for the 2019 crop season. 

The property features a vacant single-family one-story house that was built in 1920 and has 939 sq/ft of total living area. Farm improvements include a steel utility building with 2,720 sq/ft measuring 40' by 68' built in 1985.

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. Since the property is in an estate, the Seller is exempt from the DNR Time of Transfer inspection. The neighboring landowner has a recorded easement for the use of the septic system located on the property. Contact agent for details. 

Legal Description

See attachment. Exact legal description to be taken from abstract.

Details

FSA Cropland Acres: 57.73
Corn: 46 Base Acres with a PLC Yield of 146
Soybeans: 8.2 Base Acres with a PLC Yield of 44
Farm is enrolled in ARC-CO.

Total CRP - 2.8 acres paying approximately $547 annually
CP28 - 2.1 acres paying $195.49 per acre or approximately $410.53 annually expiring in 2022
CP27 - 0.7 acres paying $195.49 per acre or approximately $136.84 annually expiring in 2022

Directions

From Clear Lake, Iowa: Travel north on N. 8th Street continuing onto Grouse Avenue for 2 miles until reaching 285th Street. Turn left (west) on 285th Street for 0.5 miles. The property will be located on the right (north) side of the road. Look for Peoples Company signs.

• Sign On Property: Yes
• MLS Number: 580613
• Parcel Number: 013620000200, 013620001000
• School District: Clear Lake Community School District
• General Area: North of Clear Lake, Iowa
• Gross Taxes: $1,752.00
• CSR2: 75.50
• Possession: At Closing, Subject To Tenant's Rights
• Terms: Cash, Conventional

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Photos