Marion County, IA
310.22 Acres M/L

Jesup Street |
Pleasantville, IA 50225 |
Listing #15566

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Property Info

Description

Marion County, Iowa Farmland Auction on Friday, August 6th, 2021! Peoples Company is pleased to be representing the beneficiaries to the Estate of Howard “Pat” Myers in the sale of 310.22 total acres m/l located just south of Pleasantville, Iowa. This farmland has been a long-standing heirloom of the Myers family for over 60 years and would be considered some of the best quality farmland in the state.

Conveniently located within 25 miles of the Des Moines Metro in sections 22 and 27 of Pleasant Grove ‘S’ Township, these high quality and nearly 100% tillable farmland tracts would make a great addition to an existing farming operation or a smart investment for the Buyer looking to diversify their portfolio. The primary soil types on these tracts include top producing clay loam soils of Sharpsburg, Winterset, and Macksburg with average CSR2 values around 86, which is well above the Marion County average of 59. The farm has been crop shared by a local, reputable tenant for several years and APH (Actual Production History) yields for the last 10 years have averaged over 215 bushels per acre for corn and 59.5 bushels per acre for soybeans, far above the Marion County 10-year averages of 168 (corn) and 51.6 (soybeans). The farm lease will be terminated prior to closing and farming rights will be made available to the Winning Bidder/s for the 2022 crop season.

The farmland will be offered as four individual tracts via the “Buyer’s Choice” auction method through a live in-person auction as well as a virtual live online auction option. Online bidding will be available as well. The auction will take place at 10:00 AM at the Pleasantville Memorial Hall – 101 N. Jefferson Street Pleasantville, Iowa. With the "Buyers Choice" auction method the high bidder can take, in any order, any or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all four tillable tracts have been purchased and removed from the auction. The tracts will not be offered in their entirety or any combination at the conclusion the auction.

Tract 1: 43.38 acres m/l with 39.08 FSA cropland acres carrying a CSR2 value of 88.2.
Tract 2: 89.14 acres m/l with an estimated 85.65 FSA cropland acres carrying a CSR2 value of 86.2. The Pleasantville FFA Livestock Teaching Farm will be sold separately and not included with this sale. A survey is being completed and the final gross acres for Tract 2 are subject to change prior to the day of the auction.
Tract 3: 74.17 surveyed acres m/l with an estimated 72.01 FSA cropland acres carrying a CSR2 value of 86.0.
Tract 4: 103.53 acres m/l with an estimated 100.92 FSA cropland acres carrying a CSR2 value of 86.2 and three steel MFS brand grain bins with an estimated 26,000-bushel capacity. One grain bin was built in 1980 and is complete with a drying fan and the other two were built in 2000. There is an ingress/egress easement that extends through the acreage site to access the grain bins.

Details

Estimated FSA Cropland Acres: 297.64
Oats: 8.10 Base Acres with a PLC Yield of 57
Corn: 160.40 Base Acres with a PLC Yield of 180
Soybeans: 114.20 Base Acres with a PLC Yield of 51
*FSA Cropland and Base Acres are subject to adjust after the farm is reconstituted by the Marion County Farm Service Agency.

Directions

From Pleasantville, Iowa: Travel south out of town on S. Hobson Street / Iowa Highway 5 Business for about 1 mile. Tract 1 is located west of Iowa Highway 5 Business and south of Inwood Street. Continue to Jesup Street and turn left (south), as Tract 2 is located along the north side of the road and Tract 3 is located south of Jesup Street. Continue to 50th Place and Tract 4 will be on the west side of the road. Look for the Peoples Company signs on each tract.

Sign On Property: Yes
MLS Number: 632079
Parcel Number: 1950800000; 1950900000; 1951000000; 1951100000; 1951200000; 1951300000; 1962101000; 1962200000; 1962300500; 1962400000; 1962500500
School District: Pleasantville Community School District
General Area: South of Pleasantville, Iowa
Gross Taxes: $12,470.00
Online Bidding: Yes
Auction Date: Aug 6, 2021
CSR2: 86.40
Possession: At Closing, Subject to Tenant's Rights
Terms: Cash/Conventional

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Auction Details

Marion County Land Auction
310.22 Acres M/L
Offered in Four Tracts
Friday, August 6th, 2021
10:00 AM

Seller:
Howard "Pat" Myers Estate

Auction Location:
Pleasantville Memorial Hall
101 N Jefferson Street
Pleasantville, IA 50225

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 four tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction.

Tract 1: 43.38 Acres M/L
Tract 2: 89.14 Acres M/L
Tract 3: 74.17 Acres M/L
Tract 4: 103.53 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 Marion 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 Marion 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: As this sale is being sold by an Estate, the final sale will be subject and contingent upon receiving Court Approval. Closing will occur on or before Friday, September 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 farm is currently leased for the 2021 cropping season and will be open for the 2022 cropping season.

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 1 - Inwood Street & Iowa Highway 5 Business, Pleasantville, IA 50225

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Description

Tract 1 consists of a total of 43.38 acres m/l with 39.08 FSA Cropland acres carrying a CSR2 value of 88.2. The primary soil types include high-producing Sharpsburg and Macksburg silty clay loams. Located southwest of the Inwood Street and Business Highway 5 intersection, 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 has great access along a paved road with close proximity to Pleasantville, Iowa and is located within the southwest quarter of Section 22 of Pleasant Grove “S” Township.

FSA Cropland Acres: 39.08
Oats: 1.06 Base Acres with PLC Yield of 57
Corn: 20.95 Base Acres with a PLC Yield of 180
Soybeans: 14.92 Base Acres with a PLC Yield of 51
*Farm program information is subject to change when the farm is reconstituted by the Marion County FSA Office.

Legal Description

The Northeast Quarter of the Southeast Quarter AND a parcel of land consisting of approximately 2 acres located in the Southeast Quarter of the Southwest Quarter in Section 22, Township 76 North, Range 21 West of the 5th P.M., Marion County, Iowa. Full legal description to be taken from Abstract.

Details

Acres: 43.38 Acres M/L
Parcel Number: 1950800000; 1950900000
CSR2: 88.20

Tract 2 - Jesup Street, Pleasantville, IA 50225

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Description

Tract 2 consists of an estimated total of 89.14 acres m/l with an estimated 85.65 FSA Cropland acres carrying a CSR2 value of 86.2. The primary soil types include high yielding Winterset, Sharpsburg, and Macksburg silty clay loams. Located just east of Business Highway 5 and north of Jesup Street, this wide open, highly tillable tract offers road access and frontage on three sides. The highly tillable farmland tract is located within the Southeast Quarter of Section 22 of Pleasant Grove “S” Township.

The Pleasantville FFA Livestock Teaching Farm will be sold separately and not included with this sale. A survey is being completed and the final gross acres for Tract 2 are subject to change prior to the day of the auction. The fence surrounding the house and acreage site is not accurate to the actual property boundaries for Tract 2. There is an approximate distance of 35 feet between the current fence and the property boundary. Tract 2 has been surveyed and new parcel numbers will be assigned by the Marion County Assessor and/or Auditor. Please contact the listing agent for additional details.

Estimated FSA Cropland Acres: 85.65
Oats: 2.36 Base Acres with PLC Yield of 57
Corn: 46.71 Base Acres with a PLC Yield of 180
Soybeans: 33.26 Base Acres with a PLC Yield of 51
*Farm program information is estimated and subject to change when the farm is reconstituted by the Marion County FSA Office.

Legal Description

The Northwest Quarter of the Southeast Quarter except an approximate 7 acre parcel located in the Northwest Corner (FFA Livestock Teaching Farm to be surveyed prior to closing); the South 214.5 feet of the West 1,221 feet located in the Northeast Quarter of the Southeast Quarter; the Southwest Quarter of the Southeast Quarter except the North 250 feet of the South 699 feet of the West 350 feet and except all of that Parcel C located in Section 22; the Southeast Quarter of the Southeast Quarter except the North 891 feet of the East 99 feet and except all of that Parcel C located in the South Half of the Southeast Quarter of Section 22; all located in Section 22, Township 76 North, Range 21 West of the 5th P.M., Marion County, Iowa. *Full legal description to be taken from Abstract.

Details

Acres: 89.14 Acres M/L
Parcel Number: 1951000000; 1951100000; 1951200000; 1951300000
CSR2: 86.20

Tract 3 - Jesup Street, Pleasantville, IA 50225

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Description

Tract 3 consists of a total of 74.17 surveyed acres m/l with an estimated 72.01 FSA Cropland acres carrying a CSR2 value of 86. The primary soil types include sought after Winterset, Macksburg, and Sharpsburg silty clay loams. Located south of Jesup Street and west of 50th Place, this wide open, nearly 100% tillable tract offers efficient farming with half mile rows and no point rows. This tract is located within Sections 22 and 27 of Pleasant Grove “S” Township. Tract 3 has been surveyed and new parcel numbers will be assigned by the Marion County Assessor and/or Auditor. Please contact the listing agent for additional details.

Est. FSA Cropland Acres: 72.01
Oats: 1.95 Base Acres with PLC Yield of 57
Corn: 38.62 Base Acres with a PLC Yield of 180
Soybeans: 27.49 Base Acres with a PLC Yield of 51
*Farm program information is estimated and subject to change since its currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Marion County FSA Office.

Legal Description

Tract 3 has been surveyed and in the process of being recorded with the Marion County Recorder’s Office. Brief legal description includes “Parcel C located in the South Half of the Southeast Quarter of Section 22 AND Parcel C located in the North Half of the Northeast Quarter of Section 27; all in Township 76 North, Range 21 West of the 5th P.M., Marion County, Iowa. Exact legal description on file, please contact agent for copy of full legal description.

Details

Acres: 74.17 Acres M/L
Parcel Number: 1951200000; 1951300000; 1962101000; 1962200000
CSR2: 86.00

Tract 4 - 50th Place, Pleasantville, IA 50225

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Description

Tract 4 consists of a 103.53 total of acres m/l with an estimated 100.92 FSA Cropland acres carrying a CSR2 value of 86.2. Primary soil types include high-producing Winterset, Macksburg, and Sharpsburg silty clay loams. Located east of State Highway 5 and west of 50th Place, this wide open tillable farmland tract is farmed efficiently with half mile rows. The nearly all-tillable farmland tract is located within Section 27 of Pleasant Grove “S” Township. The previous access for this tract has been by utilizing the driveway located on the southeast corner of Tract 3. Should Tract 3 and Tract 4 not be sold to the same Buyer, Buyer will potentially need to expand the current driveway.

This tract also contains three MFS steel grain bins (13,565 bushel dryer bin built in 1980, 8,860 bushel grain bin built in 2000, and 3,660 bushel grain bin built in 2000) with approximately 26,000-bushel capacity. There is an ingress/egress easement through the surveyed acreage site located immediately northwest of Tract 4 to access the grain bin site. The 1000-gallon LP tank connected to the dryer bin is leased from Stubbs Propane in Pleasantville, Iowa. The smaller 500-gallon LP tank is not included with the sale and will be included with the home/acreage site. MidAmerican Energy is the electricity provider for the three bins.

Estimated FSA Cropland Acres: 100.92
Oats: 2.73 Base Acres with PLC Yield of 57
Corn: 54.12 Base Acres with a PLC Yield of 180
Soybeans: 38.53 Base Acres with a PLC Yield of 51
*Farm program information is estimated and subject to change since its currently combined with additional tracts. Base acres will be adjusted when the farm is reconstituted by the Marion County FSA Office.

Legal Description

The Northeast Quarter of Section 27 except Parcel A, except the DOT right-of-way located in the Southwest Corner of the Northwest Quarter of the Northeast Quarter, except all that Parcel C located in the North Half of the Northeast Quarter of Section 27, except DOT right-of-way parcel consisting of 4.29 acres in the Southwest Corner of the Southwest Quarter of the Northeast Quarter; all in Section 27, Township 76 North, Range 21 West of the 5th P.M., Marion County, Iowa. Full legal description to be taken from Abstract.