Jasper County, IA
238.00 Acres M/L

W 102nd Street N & N 51st Avenue W |
Colfax, IA 50054 |
Listing #15101

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Property Info

Description

Jasper County, Iowa Land Auction – Mark your calendar for Tuesday, September 22nd! Peoples Company is pleased to be representing the Estate of Thomas Phelan in the sale of 238 total acres m/l located just north of Colfax, Iowa. The property will be offered via Public Auction as three individual tracts and will take place at 10:00 AM at the Jasper County Fairgrounds in Colfax, Iowa. Tom and Delores Phelan were known for their quiet, giving demeanor and their legacy will carry on as the proceeds from the sale of his farmland and house/acreage will go to the benefit of several local and regional Catholic churches and Cemeteries.

Tract 1: 119.50 acres m/l with 111.57 FSA cropland acres carrying a CSR2 value of 74.3. The primary soil types include Colo silty clay loam, Nodaway silt loam, and Zook silty clay loam.
Tract 2: 116.35 acres m/l with 108.15 FSA cropland acres carrying a CSR2 value of 68.3 and a 17,000 bushel grain bin built in 1979. The grain bin also includes a dryer, fan, and attached staircase to access the top of the grain bin.
Tract 3: House and Acreage site locally known as 4033 W. 102nd Street N. Colfax, Iowa. The acreage site includes approximately 2.15 acres m/l and a single family home built in 1996. Other features include 1,200 sq. ft., three bedrooms, two-and-a-half bathrooms, and an outdoor patio deck and two car attached garage.
*Base acres and FSA acres are subject to reconstitution by the Jasper County FSA Office at the completion of the sale.

Meticulous management and conservation practices have been maintained with established, well-maintained waterways and contour farming by the farm tenant. Both farmland tracts have great accessibility with road frontage allowing entry from several different county roads and paved State Hwy 117. Both of these farmland tracts would make for great add-on units to an existing farm operation or investment-grade quality land purchase. Several competing grain marketing options located nearby including both ethanol plants and a variety of grain elevators/cooperatives. Further, the property lies in Sections 13 and 18 of Poweshiek Township.

The land will be sold as three individual tracts. Tracts 1 & 2 will be sold using the "Buyers Choice" auction method on a price per acre basis, and the high bidder can take, in any order, one or both tracts for their high bid. "Buyer's Choice" auctioning will continue until both tillable tracts have been purchased and removed from the auction. The third tract (House and Acreage site) will be sold as a total purchase price. All tracts will not be offered in their entirety at the conclusion the auction.

Legal Description

Tract 1 (119.50 Acres M/L): The Northwest One-Quarter of the Northwest One-Quarter (NW 1/4 NW 1/4), the Southwest 23.5 acres of the Southwest One-Quarter of the Northwest One-Quarter and Northeast 16.5 acres of the South Southwest One-Quarter of the Northwest One-Quarter (SW 1/4 NW 1/4), and the Northwest One-Quarter of the Southwest One-Quarter (NW 1/4 SW 1/4) of Section Eighteen (18), Township Eighty-one (81), Range Twenty-one (21) West of the 5th P.M., Jasper County, Iowa. Exact legal description to be taken from the Abstract.

Tract 2 (116.35 Acres M/L): The North One-Half of the Southwest One-Quarter (N 1/2 SW 1/4) and Northwest One-Quarter of the Southeast One-Quarter (NW1/4 SE 1/4), EXCEPT Part of "Parcel A" and EXCEPT one-half acre cemetery site, of Section Thirteen (13), Township Eighty-one (81), Range Twenty-one (21) West of the 5th P.M., Jasper County, Iowa. Exact legal description to be taken from the Abstract.

Tract 3 (2.15 Acres M/L): Part of "Parcel A" located in the Northwest One-Quarter of the Southeast One-Quarter (NW1/4 SE 1/4) of Section Thirteen (13), Township Eighty-one (81), Range Twenty-one (21) West of the 5th P.M., Jasper County, Iowa. Exact legal description to be taken from the Abstract.

Directions

From Colfax, Iowa/Interstate 80 Exit 155: Travel north on State Highway 117 for 3.0 miles and turn right (east) onto N 35th Ave W. Continue on the gravel road for approximately 0.75 miles before rounding the corner and proceeding north for 0.3 miles to 4033 W 102nd St N. Tracts 2 & 3 are located on the left (west) side of the road. Continue north on W 102nd Street N to N 51st Avenue W, turn right (east) and travel for 0.25 miles. The Northwest corner of Tract 1 is located at the intersection of W 100th Street N and N 51st Ave W.

Sign On Property: Yes
MLS Number: 612415
Parcel Number: 0613300001; 0613300002; 0613400008; 0613400009; 0718300001; 0718100006; 0718100001
School District: Colfax-Mingo Community School District
General Area: North of Colfax, Iowa
Net Taxes: $10,008.00
Online Bidding: Yes
Auction Date: Sep 22, 2020
Possession: At Closing, Subject to Tenant's Rights
Terms: Cash, Conventional

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Auction Details

Jasper County Land Auction
238 Acres M/L
Offered in Three Separate Tracts
Tuesday, September 22, 2020
10:00 AM

Seller: Estate of Thomas Phelan

Auction Location:
Jasper County Fairgrounds, Exhibit Hall
359 N Walnut St
Colfax, IA 50054

Auction Method: The land will be sold as three individual tracts. Tracts 1 & 2 will be sold using the "Buyers Choice" auction method on a price per acre basis, and the high bidder can take, in any order, one or both tracts for their high bid. "Buyer's Choice" auctioning will continue until both tillable tracts have been purchased and removed from the auction. The third tract (House and Acreage site) will be sold as a total purchase price. All tracts will not be offered in their entirety at the conclusion the auction.

Farm Program Information: Farm Program Information is provided by the Jasper 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 Jasper 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 before Friday, November 6, 2020. 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 At Closing, Subject to Farm Tenant's Rights.

Farm Lease: There is a farm lease in place for the 2020 farm year for both the tillable acres and the acreage site.

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 for Tracts 1 & 2 and total purchase price for Tract 3. 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 - W 100th Street N, Colfax, IA 50054

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Description

Tract 1 consists of a total of 119.50 acres m/l with 111.57 FSA cropland acres that carry a CSR2 value of 74.3. The cropland acres are considered NHEL or Non-Highly Erodible Land. The primary soil types include Colo silty clay loam, Nodaway silt loam, and Zook silty clay loam. There are four (4) tile intakes that have been identified but the size and location of the connecting drainage tile lines are unknown. The farm is split into two nearly 100% tillable farm tracts by a small drainage ditch that moves water towards Indian Creek. Great access with road frontage on two sides – W. 100th Street N. lies ¾ of a mile along the entire west side of the farm and N. 51st Avenue W. lies along the north side. This highly tillable farmland tract is located north of Colfax, Iowa and in Section 18 of Poweshiek Township.

FSA Cropland Acres: 111.57
Base Acres: 111.57
Corn: 82.88 Base Acres with a PLC Yield of 179
Soybeans: 28.69 Base Acres with a PLC Yield of 49
*Base Acres and FSA Cropland Acres to be reconstituted by Jasper County FSA Office at the conclusion of the sale.

Legal Description

Details

Acres: 119.50 Acres M/L
Parcel Number: 0718300001; 0718100006; 0718100001
Net Taxes: $4,122.00
CSR2: 75.00

Tract 2 - 4033 W 102nd St N, Colfax, IA 50054

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Description

Tract 2 consists of a total of 116.35 acres m/l with 108.15 FSA cropland acres that carry a CSR2 value of 68.3 and a 17,000 bushel grain bin built in 1979. The grain bin also includes a dryer, fan, and attached staircase to access the top of the grain bin. The farmland is broken up into two open fields that are split by a small creek with access from the west along paved road Iowa Hwy 117 and from the east along W. 102nd Street N. A private cemetery known as the “Fisher Pioneer Cemetery” is located on the very northwest corner of the property. This slightly rolling farm is located just north of Colfax, Iowa and in Section 13 of Poweshiek Township. *The total acres for this tract are subject to change prior to the day of the auction as a single family home and acreage site (Tract 3) are in the process of being surveyed.

Estimated FSA Cropland Acres: 108.15
Base Acres: 107.63
Corn: 84.12 Base Acres with a PLC Yield of 179
Soybeans: 23.51 Base Acres with a PLC Yield of 49
*Base Acres and FSA Cropland Acres to be reconstituted by Jasper County FSA Office at the conclusion of the sale.

Legal Description

Details

Acres: 116.35 Acres M/L
Parcel Number: 0613300001; 0613300002; 0613400008; 0613400009
Net Taxes: $3,636.00
CSR2: 68.30

Tract 3 - 4033 W 102nd St N, Colfax, IA 50054

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Description

Rural living at its finest! Tract 3 includes the single family house built by the respected home builder Moorman Construction from Baxter, Iowa and an acreage site locally known as 4033 W. 102nd Street N. Colfax, Iowa. The Ranch home / acreage site is located in the Colfax-Mingo School District and includes approximately 2.15 acres m/l and a single family home built in 1996. A great setting located on a high point with 360⁰ views. See the below video offering a virtual tour of the home!

Other features include 1,200 sq. ft. of open living space, three bedrooms, two-and-a-half-bathrooms with a Jack & Jill setup, and an outdoor patio deck, and two car attached garage. The basement is partly finished and includes poured concrete walls. Rural water has been extended to the house and the septic system is being inspected prior to the day of the auction. A survey marking the property boundaries will be completed prior to the auction as well. *The house can be viewed by interest parties by appointment or by visiting the open house on Wednesday, Sept. 9th from 4:00 PM to 6:00 PM. There is a tenant currently living in the house and a 48-hour notice to view is requested.