Chicot County, AR, Ashley County, AR,
2007.84 Acres M/L

Lake Village, AR 46349
Lake Village, AR 46349
Listing #15522

Sold

Bid Online

Property Info

Description

Peoples Company is proud to offer 2,007.84 acres m/l in Chicot and Ashley County at an absolute live public auction at 10:00 am on Thursday, July 8th, 2021. The property will be offered in nine tracts ranging from 76.54 acres m/l to 420.38 acres m/l via the “Buyer’s Choice” auction format where the high bidder on auction day will have the choice of any individual tract or combination of tracts. These tracts consist of approximately 1,886.66 FSA cropland acres with primary soil types including Perry Clay and Portland Clay. In recent years, extensive improvements have been completed on these properties including precision leveling and land planing work to improve farmability and drainage. In addition, irrigation infrastructure including wells and pumps have been installed on many tracts to provide supplemental water in the dry summers. This delta farmland portfolio is conveniently located near Highway 82 with quick access to multiple grain marketing options on the nearby Mississippi River.

Legal Description

Exact legal description to be taken from the Title Commitment.

  • Sign On Property: Yes
  • School District: Lakeside School District
  • General Area: West of Lake Village, Arkansas
  • Online Bidding: Yes
  • Auction Date: July 8, 2021
  • Possession: At Closing, Subject to Tenant's Rights
  • Terms: Cash/Conventional

Bid Online

Auction Details

Chicot & Ashley County Land Auction
2,007.84 Acres M/L
Thursday, July 8th, 2021
10:00 AM (CST)

Auction Location
Lake Village Country Club
3311 Lakeshore Drive North
Lake Village, AR 71653

AUCTION METHOD: The property will be offered via the “Choice Auction Method”. The winning bidder may elect to take an individual tract or any combination of tracts. All bids will be on a price per acre basis. The Seller and Auction Company reserve the right to stop any person from bidding if there is any question as to the person’s credentials, fitness to bid, etc. Conduct of the auction and the increments of bidding are at the discretion of the Auctioneer. The Auction Company reserves the right to enter bids on behalf of qualified telephone bidders and proxy bidders. The tracts will be offered as follows: 

Tract 1 166.01 Acres M/L
Tract 2 238 Acres M/L
Tract 3 76.54 Acres M/L
Tract 4 80 Acres M/L
Tract 5 237 Acres M/L
Tract 6 276.85 Acres M/L
Tract 7 420.38 Acres M/L
Tract 8 304.05 Acres M/L
Tract 9 209.01 Acres M/L

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

BROKER PARTICIPATION: A broker representing a Bidder (“Cooperating Broker”), who qualifies under Seller’s and Peoples Company’s broker incentive program requirements, will be paid under the terms of the program at the Closing of a subject tract of the Property. A Cooperating Broker must complete the registration form with Peoples Company, as required for this incentive program, 48 hours PRIOR to the Cooperating Broker’s client requesting to bid in the auction. A Cooperating Broker registration form with complete instructions will be made available upon request by contacting the listing agents.

FARM PROGRAM INFORMATION: Farm Program Information is provided by the Chicot and Ashley County Farm Service Agency (FSA) and Natural Resources Conservation Services (NRCS) offices. The figures stated in the marketing material are estimates of the Seller and Peoples Company; however, the Farm Program Information, base acres, crop acres, conservation plan, etc. are subject to change when the farms are reconstituted by the Chicot and Ashley County FSA and NRCS offices.

MINERAL RIGHTS: A mineral title opinion will not be obtained or provided, and there are no guarantees as to the ownership of the mineral interests on all tracts. Seller will convey one hundred (100%) of whatever mineral rights are owned by the Seller without warranty.

SURVEY: A survey will not be required to split and transfer the property. No survey or staking will be paid by the Seller. Financing: The sale of the property is not contingent upon Buyer obtaining financing. All financing arrangements are to have been made prior to bidding at the auction. By bidding, the bidder makes a representation that he/she has the present ability to perform at the bid price and will fulfill all obligations within the Real Estate Sale and Purchase Agreement.

CONTRACT & TITLE COMMITMENT: Immediately upon conclusion of the auction, the winning bidder(s) will enter into a Real Estate Sale and Purchase Agreement and deposit the required earnest money payment. The Seller will provide the Buyer(s) with a current Title Commitment and, at closing, an Owner’s Policy in the amount equal to the purchase price of each respective tract(s). All regular title insurance premiums, title, or abstracting fees and title company/closing agent fees or costs shall be split 50% to the Seller and 50% to the Buyer of each tract. Any ‘additional selections’ required by the Buyer(s) on the title insurance shall be the responsibility of the Buyer. Property will be transferred via Special Warranty Deed.

EARNEST MONEY PAYMENT: A 10% earnest money payment is required on the day of the auction for each tract. The earnest money payment may be paid in the form of cash, good check, or by wire transfer. All funds will be made payable to and held by the escrow agent, Southeast Arkansas Title & Escrow Company, Inc.

CLOSING: Closing will occur on or about August 12, 2021. The balance of the purchase price will be payable at closing in the form of cash, certified check, or wire transfer. With respect to the timing of the Seller and successful Buyer(s) in fulfilling the obligations set forth in the Real Estate Sale and Purchase Agreement, time is of the essence.

REAL ESTATE TAXES: The real estate taxes will be prorated between the Seller and Buyer(s) to the date of closing.

POSSESSION OF THE LAND: All tracts are subject to a farm lease. Possession of each tract will occur following harvest and removal of the 2021 crop. Seller shall be entitled to 100% of the rental income attributed to the land and 2021 lease term.

FARM INSPECTION: Each potential bidder is responsible for conducting, at their own risk, the independent inspections, investigations, inquiries, and due diligence concerning the Real Estate. Inspections of the Assets must be arranged by contacting the Auction Company. Each potential bidder shall be liable for any property damage caused by such inspections or investigations. Invasive testing is prohibited without prior written consent of the Seller.

DISCLAIMER: All field boundaries in the marketing material are presumed to be accurate according to the available information and knowledge of the Seller and Peoples Company. Tract acres, tillable acres, soil descriptions, etc. may vary slightly from the figures stated in the marketing material and will be subject to change. Bidder(s) and their tax, legal, and/or other advisors should perform their 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. The Real Estate Sale and Purchase Agreement, Title Commitment, and Draft Closing Documents have been made available to the general public throughout the marketing period. By bidding at the auction, bidders acknowledge these have been made available prior to the auction and all bidders had the opportunity to review these documents during their due diligence period.

OTHER: This sale is subject to all easements, covenants, leases, and restrictions of record or otherwise made known to bidders. All property is sold on an “As is - Where is” basis with no warranties or guarantees, expressed or implied, or arising by operation of law concerning the property made by the Seller, Peoples Company, or the Auctioneer, and are hereby expressly disclaimed. Any announcements made on the day of the auction by the Auctioneer or Listing Agent will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. The Sellers reserve the right to accept or reject any and all bids. All decisions of the Auctioneer are final.


360° TOUR

Use the 360 degree Interactive Tour to view the property from every angle. Click on the various vantage point icons to jump to different parts of the property. Click, hold, and drag to spin the camera in any direction.


Interactive Map

Use the Interactive Map to explore the property's regional location. Zoom in and out to see the property's surroundings and toggle various mapping layers on and off in the Map Layer Menu.


Tract 1 - CBS Road, Lake Village, AR 71653

Tract 1
Description

TRACT 1 totals 166.01 acres m/l which consists of approximately 170.97 FSA cropland acres m/l. Primary soil types include Perry Clay. This tract is non-precision-leveled but has been land-planed. Located along the west side of CBS Road, this tract is situated in Section 18 of Carlton Township.

Estimated FSA Cropland Acres: 170.97
Wheat: 30.22 base acres with a PLC Yield of 51
Soybeans: 8.91 base acres with a PLC Yield 37
Rice-Long Grain: 5.89 base acres with a PLC Yield of 6539
*Farm program information is estimated and subject to change since it is currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Chicot County FSA office.
**Cropland acres are based on county FSA information and may vary from the current farming operation.

Details
  • Acres: 166.01 Acres M/L
  • Net Taxes: $1,487.18

Directions

From Lake Village, travel west on Highway 82 for 3.5 miles before turning left on CBS Road. Continue south on CBS Road for .1 miles and the farm will be located on the west side of the road. Look for Peoples Company signs.


Tract 2 - Bill Young Road, Lake Village, AR 71653

Tract 2
Description

TRACT 2 totals 238 acres m/l which consists of approximately 200.54 FSA cropland acres m/l. Primary soil types include Perry Clay and Portland Clay. This tract is non-precision-leveled but has been land planed. Located along the west side of Bill Young Road, this tract is situated in Section 26 of Carlton Township.

FSA INFORMATION:
Estimated FSA Cropland Acres: 200.54
Wheat: 14.8 base acres with a PLC Yield of 39
Soybeans: 15.1 base acres with a PLC Yield 16
Rice-Long Grain: 21.3 base acres with a PLC Yield of 4198
Rice-Med Grain: 2.0 base acres with a PLC Yield of 4198
*Farm program information is estimated and subject to change since it is currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Chicot County FSA office.
**Cropland acres are based on county FSA information and may vary from the current farming operation.

Details
  • Acres: 238.00 Acres M/L
  • Parcel Number: 010-05284-000
  • Net Taxes: $716.91

Directions

From Lake Village, travel west on Highway 82 for 5 miles before turning left on Bill Young Road. Continue south on Bill Young Road for 2.25 miles and the farm will be located on the west side of the road. Look for Peoples Company signs.


Tract 3 - Bill Young Road, Lake Village, AR 71653

Tract 3
Description

TRACT 3 totals 76.54 acres m/l which consists of approximately 78.68 FSA cropland acres m/l. Primary soil types include Perry Clay and Portland Clay. Improvements on this tract include approximately 75 acres that have been precision-leveled. Located on the west side of Bill Young Road, this tract is situated in Section 2 of Planters Township.

Estimated FSA Cropland Acres: 78.68
Wheat: 40.9 base acres with a PLC Yield of 37
Grain Sorghum: 27.9 base acres with a PLC Yield of 43
Soybeans: 19.1 base acres with a PLC Yield 16
*Farm program information is estimated and subject to change since it is currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Chicot County FSA office.
**Cropland acres are based on county FSA information and may vary from the current farming operation.

Details
  • Acres: 76.54 Acres M/L
  • Parcel Number: 010-05360-000
  • Net Taxes: $563.50

Directions

From Lake Village, travel west on Highway 82 for 5 miles before turning left on Bill Young Road. Continue south on Bill Young Road for 4 miles and the farm will be located on the west side of the road. Look for Peoples Company signs.


Tract 5 - Jennie Cutoff Road, Lake Village, AR 71653

Tract 5
Description

TRACT 5 totals 237 acres m/l which consists of approximately 228.9 FSA cropland acres m/l. Improvements on this tract include approximately 200 acres that have been precision-leveled with the remaining balance of the tract land-planed. Located along the south side of Jennie Cutoff Road, this tract is situated in Section 11 of Planters Township. This property is surrounded by wetlands making it an ideal candidate for the Wetland Conservation Program.

Estimated FSA Cropland Acres: 228.9
Wheat: 83.8 base acres with a PLC Yield of 37
Grain Sorghum: 38.2 base acres with a PLC Yield of 43
Soybeans: 19.5 base acres with a PLC Yield 16
Rice-Long Grain: 34.9 base acres with a PLC Yield of 4071
Rice-Med Grain: 3.3 base acres with a PLC Yield of 4071
*Farm program information is estimated and subject to change since it is currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Chicot County FSA office.
**Cropland acres are based on county FSA information and may vary from the current farming operation.

 

Details
  • Acres: 237.00 Acres M/L
  • Parcel Number: 010-05443-000, 010-05441-000, 010-05451-000, 010-05439-000, 010-05442-00
  • Net Taxes: $1,107.22

Directions

From Lake Village, travel west on Highway 82 for 5 miles before turning left on Bill Young Road. Continue south on Bill Young Road for 4.75 miles and the farm will be located on the southwest corner of Bill Young Road and Jennie Cutoff Road. Look for Peoples Company signs.


Tract 6 - Bill Young Road, Lake Village, AR 71653

Tract 6
Description

TRACT 6 totals 276.85 acres m/l which consists of approximately 270.69 FSA cropland acres m/l. Primary soil types include Perry Clay. Improvements on this tract include precision-leveled bottoms. Located along both sides of Bill Young Road, this tract is situated in Sections 13 and 14 of Planters Township.

Estimated FSA Cropland Acres: 270.69
Soybeans: 142.4 base acres with a PLC Yield 23
*Farm program information is estimated and subject to change since it is currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Chicot County FSA office.
**Cropland acres are based on county FSA information and may vary from the current farming operation.

Details
  • Acres: 276.85 Acres M/L
  • Parcel Number: 010-05469-001, 010-05480-000
  • Net Taxes: $1,591.60

Directions

From Lake Village, travel south on Highway 65 for 2.25 miles before turning right on Highway 159. Travel south on Highway 159 for 6.25 miles before turning right on Portland Road. Continue west on Portland Road for 4.75 miles and the farm will be on the north side of the road. Look for Peoples Company signs.


Tract 7 - Portland Road, Lake Village, AR 71653

Tract 7
Description

TRACT 7 totals 420.38 acres m/l which consists of approximately 415.87 FSA cropland acres m/l. Primary soil types include Perry Clay. Improvements on this tract include approximately 200 acres that have been precision-leveled with the remaining balance of the tract improved with precision-leveled bottoms. Located along the north side of Portland Road, this tract is situated in Sections 13 and 18 of Planters Township.

Estimated FSA Cropland Acres: 415.87
Soybeans: 115.3 base acres with a PLC Yield 23
Wheat: 11.4 base acres with a PLC Yield of 40
Grain Sorghum: 11.4 base acres with a PLC Yield of 49
*Farm program information is estimated and subject to change since it is currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Chicot County FSA office.
**Cropland acres are based on county FSA information and may vary from the current farming operation.

Details
  • Acres: 420.38 Acres M/L
  • Parcel Number: 010-05473-002, 010-05475-000, 010-02969-000
  • Net Taxes: $815.58

Directions

From Lake Village, travel south on Highway 65 for 2.25 miles before turning right on Highway 159. Travel south on Highway 159 for 6.25 miles before turning right on Portland Road. Continue west on Portland Road for 4.25 miles and the farm will be on the north side of the road. Look for Peoples Company signs.


Tract 8 - Jennie Cutoff Road , Lake Village, AR 71653

Tract 8
Description

TRACT 8 totals 304.05 acres m/l which consists of approximately 247.33 FSA cropland acres m/l. Primary soil types include Perry Clay and Portland Clay. This tract is non-precision-leveled. Located along the south side of Jennie Cutoff Road, this tract is situated in Sections 7, 8, and 17 of Carlton Township.

Estimated FSA Cropland Acres: 247.33
Rice-Long Grain: 255.9 base acres with a PLC Yield of 3996
Rice-Med Grain: 22.33 base acres with a PLC Yield of 3996
*Farm program information is estimated and subject to change since it is currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Chicot County FSA office.
**Cropland acres are based on county FSA information and may vary from the current farming operation.

Details
  • Acres: 304.05 Acres M/L
  • Parcel Number: 010-05404-001, 010-05413-001, 010-05506-000
  • Net Taxes: $936.39

Directions

From Lake Village, travel west on Highway 82 for 6 miles before turning left on Montgomery Road. Continue south on Montgomery Road for 4.5 miles before turning right on Jennie Cutoff Road. Turn west on Jennie Cutoff Road for 1.75 miles and the farm will be located on the south side of the road. Look for Peoples Company signs.


Tract 9 - Ashley Road , Hamburg, AR 71646

Tract 9
Description

TRACT 9 totals 209.01 acres m/l which consists of approximately 201.95 FSA cropland acres m/l. Primary soil types include Perry Clay and Portland Clay. Improvements on this tract include precision leveling work completed on all cropland acres. Located along the south side of Ashley Road, this tract is situated in Sections 7 and 8 of Carter Township.

Estimated FSA Cropland Acres: 201.95
*Farm program information is estimated and subject to change since it is currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Ashley County FSA office.
**Cropland acres are based on county FSA information and may vary from the current farming operation.

Details
  • Acres: 209.01 Acres M/L
  • Parcel Number: 010-04645-000, 010-04619-000
  • Net Taxes: $204.56

Directions

From Hamburg, travel west on Washington Street for 1 mile before turning right on Milo Road. Travel north on Milo Road for 3 miles following the curve as the road turns into Ashley Road and the farm will be located on the south side of the road. Look for Peoples Company signs.


Tract 4 - Bill Young Road, Lake Village, AR 71653

Tract 4
Description

TRACT 4 totals 80 acres m/l which consists of approximately 71.73 FSA cropland acres m/l. Primary soil types include Perry Clay and Portland Clay.  This tract is non-precision-leveled but has been land planed. Located on the west side of Bill Young Road, this tract is situated in Section 2 of Planters Township.

Estimated FSA Cropland Acres: 71.73
Wheat: .73 base acres with a PLC Yield of 37
*Farm program information is estimated and subject to change since it is currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Chicot County FSA office.
**Cropland acres are based on county FSA information and may vary from the current farming operation.

Details
  • Acres: 80.00 Acres M/L
  • Parcel Number: 010-05370-001
  • Net Taxes: $132.48

Directions

From Lake Village, travel west on Highway 82 for 5 miles before turning left on Bill Young Road. Continue south on Bill Young Road for 4.25 miles and the farm will be located on the west side of the road. Look for Peoples Company signs.



Video

Click the “play” button below to watch an aerial drone video of this property.


Photos

Listing Photo Listing Photo Listing Photo Listing Photo Listing Photo Listing Photo

Tract 1 Photos

Tract 1
Tract 1
Tract 1
Tract 1
Tract 1

Tract 2 Photos

Tract 2
Tract 2

Tract 3 Photos

Tract 3
Tract 3
Tract 3
Tract 3
Tract 3

Tract 5 Photos

Tract 5
Tract 5
Tract 5
Tract 5
Tract 5

Tract 6 Photos

Tract 6
Tract 6
Tract 6
Tract 6

Tract 7 Photos

Tract 7
Tract 7
Tract 7
Tract 7
Tract 7

Tract 8 Photos

Tract 8
Tract 8
Tract 8
Tract 8
Tract 8

Tract 9 Photos

Tract 9
Tract 9
Tract 9
Tract 9
Tract 9

Tract 4 Photos

Tract 4
Tract 4
Tract 4
Tract 4
Joel King, ALC, CAI

LAND AGENT & AUCTIONEER

Joel@PeoplesCompany.com
Office: 870.275.6249
Mobile: 870.847.0945