Greene County, IA, Guthrie County, IA,
481.51 Acres M/L

Jamaica, IA |
Jamaica, IA 50128 |
Listing #15740

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Property Info

Description

Major Greene & Guthrie County, Iowa Land Auction – Mark your calendar for Thursday, November 4th, 2021 at 10:00 AM! Peoples Company is honored to represent the members of Meinecke Farms Corporation in the sale of 481.51 total acres m/l located around Jamaica, Iowa.

Of the total 481.51 acres m/l, the Meinecke Farms Corporation farmland includes 437.83 FSA cropland acres with 382.15 acres currently in row crop production. There are 53.90 acres currently enrolled in five Conservation Reserve Program (CRP) contracts that expire from 2025 through 2035. Located in a strong farming community near several competing grain markets including both grain elevators and ethanol plants, these tracts would make for a great add-on unit to an existing farm operation or investment-grade quality land purchase. The farmland has been proudly owned and operated by the Meinecke family for over 60 years.

Tract 1: 90 acres m/l with 86.12 FSA cropland acres carrying a CSR2 soil rating of 83.9. There are currently 66.12 being farmed with a CSR2 soil rating of 85 with an additional 20 acres enrolled into CRP CP-27/28 (Farmable Wetlands Program) through 2026 with an annual payment of $7,080 ($353.99/acre).
Tract 2: 160 acres m/l with 150.98 FSA cropland acres carrying a CSR2 soil rating of 78.8. Currently, 141.43 acres are being farmed with 7.90 acres enrolled in CRP CP-8A (Grass Waterways) until 2025 with an annual payment of $2,860 ($362/acre). This tract also contains five steel grain bins (nearly 9,000-bushel dryer bin built in 1981, 3,660-bushel grain bin built in 1960, and three 3,250-bushel grain bins built in 1960) with approximately 22,500-bushel capacity.
Tract 3: 41.21 acres m/l with 18.30 FSA Cropland acres carrying a CSR2 soil rating of 82.6. The tillable acres are enrolled in CRP CP38E-25 (Rare & Declining Habitat - Prairie Restoration) through 2035 and an annual payment of $3,243 (177.22/acre).
Tract 4: 105.17 acres m/l with 102.31 FSA cropland acres carrying a CSR2 soil rating of 79.2. There are currently 98.91 acres being farmed with an additional 3.40 acres enrolled in the CRP CP-8A & 25 (Grass Waterways & Filter Strips) until 2025 with an annual payment of $1,216 ($357.60/acre). In addition, there are two steel grain bins in an estimated 8,000-bushel capacity.
Tract 5: 40 acres m/l with 37.16 FSA cropland acres carrying a CSR2 soil rating of 77.5. Currently, there are 35.02 acres being farmed on this tract.
Tract 6: 45.13 acres m/l with an estimated 42.96 FSA cropland acres boasting a CSR2 soil rating of 87.4. There are 38.66 acres being farmed with an additional 4.30 acres enrolled in the CRP CP-8A (Grass Waterways) through 2029 with an annual payment of $761 ($177/acre).

The six tracts will be offered via Public Auction and will take place at 10:00 AM at the Jamaica Community Center, NW Corner of Main Street and Van Nest Street, Jamaica, Iowa 50128. The farmland tracts will be sold as six 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 both tracts for their high bid. "Buyer's Choice" auctioning will continue until all six tracts have been purchased and removed from the auction. 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.

Details

Est. FSA Cropland Acres: 437.83
Est. Effective Cropland Acres: 382.15
Base Acres: 372.0
Corn: 272.30 base acres with a PLC Yield of 148
Soybeans: 99.7 base acres with a PLC Yield of 43
Farm is enrolled in ARC-CO for Corn & Soybeans
*Farm program Information is for the six tracts. Base Acres will be adjusted per the default method when the Farm is reconstituted by the Greene & Guthrie County FSA offices.

Sign On Property: Yes
MLS Number: 638148
General Area: North & South of Jamaica, Iowa
Online Bidding: Yes
Auction Date: Nov 4, 2021
Possession: At Closing, Subject to Tenant's Rights
Terms: Cash / Conventional

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Auction Details

Greene & Guthrie County Land Auction
481.51 Acres M/L
Offered in Six Tracts
Thursday, November 4th, 2021
10:00 AM

Seller:
Meinecke Farms Corporation

Auction Location:
Jamaica Community Center
NW Corner of Main Street & Van Nest Street
Jamaica, Iowa 50128

Auction Method: All tracts 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, any or all tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all six tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction.

Tract 1: 90 Acres M/L
Tract 2: 160 Acres M/L
Tract 3: 41.21 Acres M/L
Tract 4: 105.17 Acres M/L
Tract 5: 40 Acres M/L
Tract 6: 45.13 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. 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 Greene & Guthrie 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 Greene & Guthrie 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, December 17th, 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 farmland has been owner operated and farming rights for the 2022 farm year will be available.

CRP Contracts: CRP contracts will be conveyed to the Buyer/s At Closing. Seller will retain all CRP payments payable in 2021 and Buyer will receive the prorated 2022 and beyond payments.

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.

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.

Location

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Tract 2 - 330th Street, Jamaica, IA 50128

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Description

Tract 2 ("Garrity & Murphy Farm") consists of 160 acres m/l with 150.98 FSA cropland acres and a CSR2 value of 78.8 including soil types of Nicollet loam, Biscay clay loam, Webster clay loam, and Clarion loam. Currently, 141.43 acres are being farmed combined with 7.90 acres enrolled in the Conservation Reserve Program (CRP) until 2025. The CRP practice is CP-8A (Grass Waterways) and has an annual payment of $2,860 ($362/acre). In addition, there is a 1.65-acre grass waterway strip located along the eastern boundary of the tract, but is not enrolled in CRP or being farmed. There are two drainage tiles (12-14"; see Tile Map) running through the northern half of this farmland tract outletting to a tributary of Greenbrier Creek to the east. This tract also contains five usable steel grain bins (nearly 9,000-bushel bin built in 1981, 3,660-bushel grain bin built in 1960, and three 3,250-bushel grain bins built in 1960) with approximately 22,250-bushel capacity. Midland Power Cooperative is the electricity provider for the five bins. Should tracts 2 & 3 be purchased separately, an ingress/egress access easement measuring 40 ft. wide will be placed on the western boundary of tract 2 to provide access to tract 3. Contact agent for more information or for a copy of the proposed ingress/egress access easement.

FSA Cropland Acres: 150.98
Effective Cropland Acres: 143.08
Base Acres: 142.9
Corn: 96.3 base acres with a PLC Yield of 148
Soybeans: 46.6 base acres with a PLC Yield of 43

Legal Description

Tract 2: The Northeast Quarter (NE ¼) of Section Thirty-four (34), Township Eighty-two (82) North, Range Thirty (30) West of the 5th P.M., in Greene County, Iowa. Exact legal description to be taken from Abstract.

Details

Acres: 160.00 Acres M/L
Parcel Number: 1534200001; 1534200002; 1534200003; 1534200004
CSR2: 78.80

Directions

From Jamaica, Iowa: Travel north out of town for 2 miles on County Higway P30, turn left (west) onto 330th Street and continue for 0.5 mile. Tract #2 is located on the south side of the road. Look for the Peoples Company signs.

Tract 3 - 330th Street, Jamaica, IA 50128

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Description

This recreational tract has endless possibilities whether you want to chase whitetails, turkeys, or pheasants! This property contains ample food sources, mature hardwoods, and plentiful water sources to support a strong population of deer, rafter of turkeys, or bouquet of pheasants. With Greenbrier Creek located just south the property with a deep ravine creating a pinch point, this tract should bode well for outdoor enthusiasts and whitetail hunters.

Tract 3 ("The Lost 40") is a ’50 / 50’ farmland and wooded tract located just over a mile and a half from pavement and includes 41.21 acres m/l with 18.30 FSA cropland acres and a CSR2 value of 82.6 with Clarion loam as the primary soil type. Currently, all 18.30 FSA tillable acres are enrolled in the Conservation Reserve Program (CRP) until 2035. The CRP practice is CP-38E-25 (Rare & Declining Habitat - Prairie Restoration) and has an annual payment of $3,243 ($177.22/acre). here is an approximate 40' wide ingress-egress easement extending from 330th Street along the western property boundary of Tract 2 to the far northwest corner of Tract 3 allowing access to this tract.

Legal Description

Tract 3: The Southwest Quarter of the Southeast Quarter (SW ¼ SE ¼) of Section Thirty-four (34), Township Eighty-two (82) North, Range Thirty (30) West of the 5th P.M., in Greene County, Iowa; AND the West 40’ of the Northwest Quarter of the Southeast Quarter (NW ¼ SE ¼) of Section Thirty-four (34), Township Eighty-two (82) North, Range Thirty (30) West of the 5th P.M., in Greene County, Iowa. Exact legal description to be taken from Abstract.

Details

Acres: 41.21 Acres M/L
Parcel Number: 1534400001; 1534400004
CSR2: 82.60

Directions

From Jamaica, Iowa: Travel north out of town for 2 miles on County Higway P30, turn left (west) onto 330th Street and continue for 1 mile. Turn onto the private lane and continue south for 0.5 mile. Look for the Peoples Company signs.

Tract 5 - 325th Street / Sherwood Avenue, Jamaica, IA 50128

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Description

Tract 5 ("The 40") consists of 40 acres m/l with 37.16 FSA Cropland acres. Currently, there are 35.02 acres being farmed with a CSR2 soil rating of 79.2. Located southwest of the intersection of 325th Street and Sherwood Avenue, this tract offers many possibilities as an affordable farm for a beginning farmer, add-on to an existing farming operation, or a smart investment for the Buyer looking to diversify their portfolio. This highly tillable farmland tract is located within the Southwest Quarter of Section 30 in Washington Township, Greene County, Iowa.

FSA Cropland Acres: 37.16
Base Acres: 32.1
Corn: 20.1 base acres with a PLC Yield of 148
Soybeans: 12.0 base acres with a PLC Yield of 43

Legal Description

Tract 5: The Northeast Quarter of the Southwest Quarter (NE ¼ SW ¼) of Section Thirty (30), Township Eighty-two (82) North, Range Twenty-nine (29) West of the 5th P.M., in Greene County, Iowa. Exact legal description to be taken from Abstract.

Details

Acres: 40.00 Acres M/L
Parcel Number: 1630300003
CSR2: 77.50

Directions

From Jamaica, Iowa: Travel north out of town for 2 miles on County Higway P30, turn right (east) onto 330th Street and continue for 2 miles. At the intersection of 330th Street and Sherwood Avenue, turn left (north) and continue for 0.25 miles. Tract #5 is located west of Sherwood Avenue. Look for the Peoples Company sign.

Tract 4 - S Avenue, Jamaica, IA 50128

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Description

Tract 4 ("Darrell's Farm") consists of 105.17 acres m/l with 102.31 FSA cropland acres and a CSR2 value of 79.2. There are currently 98.91 acres being farmed with an additional 3.40 acres enrolled in the Conservation Reserve Program (CRP) until 2025. The CRP practices are CP-8A/25 (Grass Waterways and Filter Strips) and have an annual payment of $1,216 ($357.60/acre). There are two grain bins located on the northeast corner of the property, built in the 1960's, that have an estimated 7,000-bushel capacity.

FSA Cropland Acres: 102.31
Effective Cropland Acres: 98.91
Base Acres: 95.8
Corn: 87.0 base acres with a PLC Yield of 148
Soybeans: 8.8 base acres with a PLC Yield of 43

Legal Description

Tract 4: The South Half of the Southeast Quarter (S ½ SE ¼) of Section Twenty-four (24), Township Eighty-two (82) North, Range Thirty (30) West of the 5th P.M., Greene County, Iowa, Except Lot 1 of the SE ¼ SE ¼ of 24-82-30 (and in accordance with the Plat of MHF Engineering, P.C., dated April 12, 1993); AND The West Half of the North Half of the North Half of the Northeast Quarter (W ½ N ½ N ½ NE ¼) of Section Twenty-five (25), Township Eighty-two (82) North, Range Thirty (30) West of the 5th P.M., Greene County, Iowa; AND The East Half of the North Half of the North Half of the Northeast Quarter (E ½ N ½ N ½ NE ¼) of Section Twenty-five (25), Township Eighty-two (82) North, Range Thirty (30) West of the 5th P.M., Greene County, Iowa. Exact legal description to be taken from Abstract.

Details

Acres: 105.17 Acres M/L
Parcel Number: 1524400003; 1524400004; 1525200001; 1525200002
CSR2: 79.20

Directions

From Jamaica, Iowa: Travel north out of town for 3.50 miles on County Higway P30, turn right (east) onto 315th Street and continue for 1.5 miles. Turn right (south) onto S Avenue and continue for 0.5 mile. Tract #4 is located on the west side of the S Avenue. Look for the Peoples Company signs.

Tract 6 - Ellis Street, Jamaica, IA 50128

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Description

Tract 6 ("Thomas Farm") consists of 45.13 acres m/l with an estimated 42.96 FSA Cropland acres boasting a CSR2 value of 87.4. The primary soil types include highly productive Clarion and Nicollet loams. There are currently 38.66 acres being farmed with an additional 4.30 acres enrolled in the Conservation Reserve Program (CRP) until 2029. The CRP practice is CP-8A (Grass Waterways) and has an annual payment of $761 ($177/acre). Located east of the intersection of S. Main Avenue and Ellis Street, this tract offers many possibilities as an affordable farm for a beginning farmer, add-on to an existing farming operation, or a smart investment for the Buyer looking to diversify their portfolio. This nearly 100% tillable farmland tract is located within the city limits of Jamaica, Iowa in Sections 11 and 12 in Richardson Township, Guthrie County, Iowa. Ellis Street provides the legal access for this farmland tract.

Estimated FSA Cropland Acres: 42.96
Base Acres: 35.3
Corn: 20.2 base acres with a PLC Yield of 148
Soybeans: 15.1 base acres with a PLC Yield of 43

Legal Description

Tract 6: That part of the West Half of the Northwest Quarter of Section Twelve (12), Township Eighty-one (81) North, Range Thirty (30) West of the 5th P.M., in Guthrie County, Iowa; AND Lots Seven (7) and Eight (8) of the Southeast Quarter of the Northeast Quarter (SE ¼ NE ¼) of Section Eleven (11) Township Eighty-one (81) North, Range Thirty (30) West of the 5th P.M., in Guthrie County, Iowa; AND That part of the South Half of the Northeast Quarter (S ½ NE ¼) North, Range Thirty (30) West of the 5th P.M., in Guthrie County, Iowa, bounded as follows: On the east by the east line of the South Half of the Northeast Quarter of said Section 11, on the west by the northerly extension of the east line of Ellis Street, on the north by a line parallel with and distant 25 feet southerly, measured at right angles, from the centerline of the main track of the Chicago and Northwestern Transportation Company as said main track was located on November 16, 1993, and on the south by a line parallel with and distance 150 feet southerly, measured at right angles, from the centerline of the main track of the Chicago, Milwaukee and St. Paul Railway Company (later the Chicago, Milwaukee, St. Paul and Pacific Railroad Company, and later the Chicago and Northwestern Transportation Company), as said main track centerline was originally located and established over and across said Section 11; subject to easements, covenants, restrictions and reservations of record. Exact legal description to be taken from Abstract.

Details

Acres: 45.13 Acres M/L
Parcel Number: 0001255611; 0001240901; 0001240900; 0000666501
CSR2: 87.40

Directions

From Jamaica, Iowa: From County Highway P30, turn onto Ellis Street and continue east. The farm is located east of the S. Main Street and Ellis Street intersection. Look for the Peoples Company sign.