Boone County, IA

Peach Avenue
Madrid, IA 50156

147.39 Acres M/L

Listing #15687

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Peoples Company is pleased to be representing the Estate of Philip W. Croft in the sale of 147.39 Gross Acres m/l and 97.56 FSA Tillable Acres located in Boone County just SW of Luther, Iowa. This Public Auction will be offered as one tract on a per-acre basis. The Auction will be held at the Community Room in Madrid, Iowa, and will begin at 11:00 AM on Wednesday, October 6th with hot lunch being provided following the conclusion of the auction. There will be the option of Live and Online bidding available. Don't miss your opportunity to acquire a diverse farm with some of the best Deer and Dirt in Boone County. Situated along a dead-end paved highway "Peach Avenue" you can find tranquility and picturesque views of nature's true beauty at all times of the year. The farm is situated in section 3 of Douglas Township Boone County, Iowa.

Farm Lease: Notice of Termination of the lease has been sent to the Tenants. The current lease will terminate on March 1, 2022, and will be open for the 2022 cropping season.

Timber is enrolled into the Forest Reserve Program.

Legal Description

South 8 acres in the Northwest Quarter (1/4) of Northeast quarter (1/4), Southwest quarter (1/4) of Northeast quarter (1/4), Southeast quarter (1/4) of Northwest quarter (1/4), Northeast quarter (1/4) of Southwest quarter (1/4) and Northwest quarter (1/4) of Southeast quarter (1/4) of Section three (3), Township eighty-two (82) North, Range twenty-six (26)l, West of the 5th P.M., Boone County, Iowa. Exact Legal description to be taken from Abstract.

Farm Details

FSA Cropland Acres: 97.56
Corn: 71.99 Base Acres with a PLC Yield of 127
Soybeans 25.55 Base Acres with a PLC Yield of 39

  • Sign On Property: Yes
  • MLS Number: 636060
  • Parcel Number: 088226031300002, 088226032400001, 088226033100001, 088226034200001
  • School District: United Community
  • General Area: Luther
  • Net Taxes: $2,304.00
  • Online Bidding: Yes
  • Auction Date: Oct 6, 2021
  • Possession: At Closing
  • Terms: Cash, Conventional


From Luther, IA travel west out of town on 270th Street for approximately 2.50 miles. Turn south onto Peach Avenue and travel for approximately 1.50 miles. Property will be located on the west side of Peach Avenue. Look for signs.

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Auction Details

Boone County Land Auction
147.39 Acres M/L
Offered as one tract
Wednesday, October 6th, 2021
11:00 AM Central
Sellers: Estate of Philip W. Croft

Auction Location:
Community Room
303 S Water St
Madrid, Iowa 50156

Auction Method: Property will be offered as one individual tract. All bids will be on a price per acre basis.

Farm Program Information: Farm Program Information is provided by the Boone 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 Boone County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction.

Closing: Closing will occur on or about Tuesday, November 16, 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 farm will be given at closing subject to tenants rights.

Farm Lease: The farm is currently leased for the 2021 cropping season and will be open for 2022.

Contract & Title: Immediately upon the 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. The 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. 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.


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