Adams County, IA
1180.52 Acres M/L

Co Hwy H24 / 150th Street & Uban Avenue & Union Avenue |
Creston, IA 50801 |
Listing #15850

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Property Info

Description

Major Adams County, Iowa Land Auction – Mark your calendar for Thursday, December 2nd, 2021 at 2:00PM! Peoples Company is honored to represent the Arnold D. Eblen Revocable Trust & Nellie M. Eblen Family Trust in the sale of 1,180.52 total acres m/l of highly tillable Adams County, Iowa farmland!

Of the 1,180.52 total acres m/l in this complete portfolio, the Eblen farmland includes an estimated 1,044.47 FSA cropland acres carrying above-county CSR2 ratings. The farm is leased for the 2022 cropping season and cash rent will be prorated to the Buyer/s of each tract. Located in a strong farming community near several competing grain markets including both grain elevators and ethanol plants, these nine highly-tillable, contiguous tracts of farmland would make for a great add-on unit to an existing farm operation or investment-grade quality land purchase. A single-family home and acreage site will be offered for sale and included in this auction for a buyer wanting to enjoy the countryside. This home can be viewed by contacting the listing agents, Andrew Zellmer and/or Matt Adams, or by attending the Open Houses on Sunday, November 14th from 1:00 PM to 4:00 PM and Thursday, November 18th from 4:00 PM to 7:00 PM.

Tract 1: 80 acres m/l with 69.03 FSA cropland acres carrying a CSR2 soil rating of 70.5.
Tract 2: 109.88 acres m/l with 105.70FSA cropland acres carrying a CSR2 soil rating of 79.4.
Tract 3: 145.14 acres m/l with an estimated 125.65 FSA cropland acres carrying a CSR2 soil rating of 65.4.
Tract 4: 154.73 acres m/l with 136.72 FSA cropland acres carrying a CSR2 soil rating of 69.0.
Tract 5: 165.52 acres m/l with 141.99 FSA cropland acres carrying a CSR2 soil rating of 63.3.
Tract 6: 134.88 acres m/l with 117.43 FSA cropland acres carrying a CSR2 soil rating of 73.3; along with an immaculate, well-kept Morton steel utility machine shed (66' x 120') with concrete flooring along with three Sukup steel grain bins (two nearly 32,000-bushel bins built in 2001 and 2005, and a 21,750-bushel grain bin built in 2011) with approximately 85,000-bushel capacity.
Tract 7: 165.03 acres m/l with 142.52 FSA cropland acres carrying a CSR2 soil rating of 66.0.
Tract 8: 136 acres m/l with 129.95 FSA cropland acres carrying a CSR2 soil rating of 55.8.
Tract 9: 80 acres m/l with 73.88 FSA cropland acres carrying a CSR2 soil rating of 64.4.
Tract 10: Home and 9.34-Acre Acreage Site* (to be surveyed) - A 2,172 Sq. Ft., single-family, split level ranch style home, built in 1975, with 3 bedrooms, 3 baths. Locally known as 3043 150th Street, Creston, Iowa 50801. This acreage site includes a 60' x 100' steel utility building, a 52' x 60' wood frame pole building, and four steel grain bins with approximately 42,000-bushel capacity.

The ten tracts will be offered via Public Auction and will take place at 2:00 PM at the Supertel Inn & Conference Center, 800 Laurel Street, Creston, Iowa 50801. The farmland tracts will be sold as nine individual tracts using the "Buyers Choice" auction method on a price per acre basis, and the high bidder can take, in any order, one or any of the tracts for their high bid. "Buyer's Choice" auctioning will continue until all nine tracts have been purchased and removed from the auction. The acreage site (Tract 10) will be offered through a traditional auction as a total purchase price. Tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Legal Description

Exact legal description to be taken from Abstract.

Directions

From Creston, Iowa: Travel west out of town on County Highway 25 for approximately 3 miles. Turn left (west) onto County Highway H24 / 150th Street and continue for approximately 6.50 miles. Look for the auction signs.

Sign On Property: Yes
MLS Number: 641340
Parcel Number: 5854100; 5853100; 5856100; 5855100; 6271100; 6270100; 6263100; 6262100; 6264100; 6265100; 4613100; 4612109; 4614109; 4615109; 6267100; 6268100; 6266100; 6269100; 4616100; 1617100; 6251109; 6252109; 6250109; 6253109; 6259100; 6258100; 6255100; 6254100; 6256100; 6257100; 6261100; 6260100
School District: Creston Community School District
General Area: West of Creston, Iowa
Online Bidding: Yes
Auction Date: Dec 2, 2021
Possession: At Closing, Subject to Tenant's Rights
Terms: Cash / Conventional

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Auction Details

Major Adams County, Iowa Land Auction
1,180.52 Acres M/L
Thursday, December 2nd, 2021 at 2:00 PM

Seller: Arnold D. Eblen Revocable Trust & Nellie M. Eblen Family Trust

Auction Location:
Supertel Inn & Conference Center
800 Laurel Street
Creston, Iowa 50801.

Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/

Auction Method: The ten tracts will be offered via Public Auction and will take place at 2:00 PM at the Supertel Inn & Conference Center, 800 Laurel Street, Creston, Iowa 50801. Nine farmland tracts (Tracts 1-9) will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, one or any of the tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all nine farmland tracts have been purchased and removed from the auction. The acreage will be offered through a traditional auction as a total purchase price. Tracts will not be offered in their entirety at the conclusion the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available. The houses will be sold on an “as is, where is” basis and since the property is owned by Trust, the Seller is exempt from the Time of Transfer requirements. Should a Buyer want to repair, perform maintenance, or replace the septic system, it will be at their sole expense and responsibility.

Tract 1: 80 Acres M/L
Tract 2: 109.88 Acres M/L
Tract 3: 145.14 Acres M/L
Tract 4: 154.73 Acres M/L
Tract 5: 165.52 Acres M/L
Tract 6: 134.88 Acres M/L
Tract 7: 165.03 Acres M/L
Tract 8: 136 Acres M/L
Tract 9: 80 Acres M/L
Tract 10: 9.34-Acre Acreage Site (to be surveyed)

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Farm Program Information: Farm Program Information is provided by the Adams County Farm Service Agency. 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 Adams 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 Tuesday, December 28th, 2021. 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 land will be given At Closing, Subject to Tenant's Rights.

Farm Lease: The farm is currently leased for the upcoming 2022 cropping season and the Buyer/s will receive the prorated 2022 cash rent payment for each tract.

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.

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.

Surveys: Surveys will be completed by the Seller for Tract 10. The acreage and surrounding tracts are subject to change prior to the auction. No additional surveying or staking will be provided by the Seller.

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.

Tract 6 consists of 134.88 acres with 117.43 FSA tillable acres carrying a CSR2 Rating of 73.3. The primary soil types include Sharpsburg-Nira silty clay loam, Zook silty clay loam, Sharpsburg silty clay loam, and Wabash silty clay loam. The 117.43 tillable acres are currently leased for the 2022 cropping season and the Buyer will assume the cash rent lease ($29,944.65) from the tenant.

This tract also contains an immaculate, well-kept Morton steel utility machine shed (66' x 120') with concrete flooring along with three Sukup steel grain bins (two nearly 32,000-bushel bins built in 2001 and 2005, and a 21,750-bushel grain bin built in 2011) with approximately 85,000-bushel capacity. This farmland tract is located within the East Half of Section 33 in Colony Township, Adams County, Iowa.