302 Acres m/l - Selling in 3 Tracts O'Brien County, IA - Caledonia & Union Townships

Land Auction

302 Acres m/l - Selling in 3 Tracts O'Brien County, IA - Caledonia & Union Townships

Sale Date: Friday, November 30, 2018 2:00 PM

Sale Location: Laue Community Building, 127 S Main, Paullina, Iowa

Documents and Maps

Description

Midwest Land Management is pleased to be offering the Stamer Family Trust farms at public auction.  These farms have been well cared for over many years by the Stamer family.  This is a great opportunity to own a larger tract with a history of very high productivity.  Make plans to attend this auction for an opportunity to purchase a piece of O’Brien county farmland that doesn’t come around often.

Property Location

Tracts 1 & 2: 5½ miles west of Paullina, Iowa on Highway 10 and ½ mile north on Nettle Avenue.
Tract 3: 2½ miles west of Paullina, Iowa on Highway 10 and 1 mile south on Oriole Avenue.

Legal Description

Tract 1: Part of the East Half of the Northwest Quarter (Pt. E½ NW¼) and the West Half of the West Half of the Northeast Quarter (W½ W½ NE¼), both in Section Three (3), Township Ninety-four North, Range Forty-two (42) West of the 5th P.M., O'Brien County, Iowa.

Tract 2: The West Half of the Northwest Quarter (W½ NW¼) and Part of the West Half of the East Half of the Northwest Quarter (Pt. W½ E½ NW¼), both in Section Three (3), Township Ninety-four (94) North, Range Forty-two (42) West of the 5th P.M., O'Brien County, Iowa except 6.1 acre acreage.

Tract 3: The West 108 Acres of the North Fractional Half (N. Fr. ½) of Section Eighteen (18), Township Ninety-four (94) North, Range Forty-one (41) West of the 5th P.M., O'Brien County, Iowa except 3 acre acreage.

FSA Information

Combined FSA Information for Tracts 1 & 2
Cropland Acres: 190.23
Corn Base: 94.6 acres    PLC Yield: 179 bu.
Soybean Base: 85.09 acres   PLC Yield: 47 bu.

FSA Information for Tract 3
Cropland Acres: 96.07 
Corn Base: 53.1 acres   PLC Yield: 181 bu.
Soybean Base: 30.1 acres   PLC Yield: 50 bu.

Tract 1 CRP Contracts
Contract 1 - 1.6 Acres, Annual Payment - $555, Expiration Date - 9/30/2023
Contract 2 - 2.45 Acres, Annual Payment - $906, Expiration Date - 9/30/2025

Tract 2 CRP Contracts
Contract 1 - 3.41 Acres, Annual Payment - $1,260, Expiration Date - 9/30/2025
Contract 2 - 3.07 Acres, Annual Payment - $1,050, Expiration Date - 9/30/2026

Tract 3 CRP Contract
4.09 Acres, Annual Payment - $1,346, Expiration Date - 9/30/2026

Soils

Tract 1: Primghar, Galva, Marcus and Afton
Tract 2: Galva, Primghar, Afton and Marcus
Tract 3: Galva, Calco, Sac, Everly, Primghar, Afton and Marcus

Surety/Agridata Avg

Tract 1
Surety/AgriData Avg. CSR2: 94.6
Surety/AgriData Avg. CSR1: 74.4

Tract 2
Surety/AgriData Avg. CSR2: 92.4
Surety/AgriData Avg. CSR1: 73.2

Tract 3
Surety/AgriData Avg. CSR2: 88
Surety/AgriData Avg. CSR1: 65.8



Real Estate Taxes

Tract 1: $2,483 estimated
Tract 2: $2530 estimated
Tract 3: $2,666

Method of Bidding

Successful bidder will have choice of Tracts 1, 2 and/or 3.

Terms

10% earnest money down day of sale. Balance due at closing on or before January 11, 2019. Real estate taxes to be prorated to December 31, 2018. All tracts have open lease for 2019. Exact acres and legal of tracts 1 & 2 to be taken from survey prior to sale. Seller to retain all 2018 CRP payments; buyers to assume all CRP contracts for 2019 and beyond. All final bids are subject to seller approval.

Listing Agent

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