Live and Online at Ranchandfarmauctions.com

Auction Date:

08/22/2024 

Auction Time:

2:00 PM CT

Auction Venue Location:

The Saints Center, 320 N Fremont St, Stuart, IA 50250

Entire Farm Description:

Ranch & Farm Auctions, a Division of Whitetail Properties Real Estate, is proud to represent FARM 107730, LLC. in the sale of 80.0 deeded acres m/l of quality Adair County, Iowa farmland. Located in Section 10 of Lincoln Township, this highly tillable farm consists of 74.34 FSA tillable acres carrying a weighted average CSR2 of 79.5. The soils consist mainly of Sharpsburg silty clay loam, Zook-Colo-Ely silty clay loam and Ladoga silt loam with slope ratings between 2 – 9 percent. The balance of the farm consists of a drainage ditch that is in the eastern half of the farm and a stand of timber in the southeast corner along Walnut Avenue. There are 11.86 acres enrolled in a CRP contract that pays $1,945.00 annually through 9/30/2029. The practices in this contract include filter strips, contour grass strips and grassed waterways.

The new buyer will receive 50% of the rental income and prorated CRP for 2024. Open tenancy for 2025.

This quality farm with good drainage far exceeds the county average CSR2 of 64 and will continue to produce strong yields year after year. This farm would make for a solid investment to diversify your portfolio or be a great addition to your current farming operation.

Property Location: From Stuart, travel south on Stuart Rd. (P28) across the interstate to 110th St. Travel east 2.0 miles on 110th St. to Walnut St. Turn Right (South) on Walnut and travel .75 miles to the subject property. Auction signage will clearly identify the property location.

Farm Information: 80 acres deeded. 79 acres taxable. 74.61 acres of cropland.

Farm Number: 933

Tract Number: 1374

Legal Description: SE SE & SW SE 10-77N-30W. The exact legal information is to come from the abstract prior to closing.

Taxes: 2022 property taxes are $2,363.00

Details:

Tract #: 1

Deeded Acres: 80.0 +/-

FSA Farmland Acres: Farmland: 79.83 +/- Cropland: 74.61 +/-

Soil Types: Sharpsburg silty clay loam, Zook-Colo-Ely silty clay loam & Ladoga silt loam

Soil PI/NCCPI/CSR2: 79.5 CSR2

CRP Acres/payment: 11.86 Acres, paying $164.00 per acre or $1,945.00 annually. Contract expires 9.20.2029

Taxes: $2,363.00

Lease Status: Open Tenancy for 2025 crop year

Possession: Immediate possession subject to current tenant's rights for 2024

Survey needed?: No survey needed

Brief Legal: 10-77-30 SW SE & SE SE

PIDs: 0410400004, 0410400005

Lat/Lon: 41.476797, -94.284859

Zip Code: 50250

Bidders may participate in the auction on-site or online at Ranchandfarmauctions.com

Onsite bidders should bring a government-issued ID

10% down payment immediately after auction - cash, personal, or business checks accepted

If the winning bid is online, you will be immediately contacted to make arrangements for the 10% down payment and a purchase contract will be sent via DocuSign

High bidder has 30 days to close unless otherwise noted

Announcements on auction day will take precedence over any prior announcements

This is a no contingency sale and is not subject to financing or additional inspections

Possession at closing, subject to tenant’s rights, if any

If a survey is needed it will be done following the auction and the total purchase price will be adjusted to the surveyed acres

All information provided is derived from sources believed correct but is not guaranteed or warranted - Bidders shall rely entirely on their own information and judgments

80.0 Deeded Acres

74.34 FSA Tillable Acres

Average Weighted CSR2 of 79.5

Primary soil types of Sharpsburg silty clay loam and Zook-Colo-Ely silty clay loam

11.86 Acres enrolled in CRP with the contract paying $1,945 annually

Excellent drainage and erosion control with the waterways, filter and contour grass strips.

Located close to multiple grain markets and the Menlo Ethanol plant.