Martin County, MN

30th Street/40th Avenue
Dunnell, MN 56127

309.90 Acres M/L
AUCTION

Listing #15783

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PROPERTY INFO

Description

Peoples Company is pleased to present 309.9 acres m/l of high quality Martin County, Minnesota farmland available in three tracts. These highly productive farms will be sold through public auction at 10:00 AM on Tuesday, November 2nd, 2021 at the Dunnell, Minnesota Community Center. The tracts will be sold using the "Buyer's Choice" bidding method and online bidding will be available. Each tract has been extensively tiled (see attached tile maps) and feature high quality soil types of Canisteo-Glencoe complex, Nicollet-Crippen complex, and Webster clay loam. All tracts are a high percentage tillable with average "PI" ratings from 92.2 to 93.8.

Tract 1: 80 acres m/l with 77.11 FSA tillable cropland acres carrying a PI of 92.2.
Tract 2: 149.9 acres m/l with 146.90 estimated tillable cropland acres carrying a PI of 92.8. A grain bin built in 2016 with an approximate 56,000 bushel capacity is located on this tract.
Tract 3: 80 acres m/l with 79.81 estimated tillable cropland acres carrying a PI of 93.8.

The farm will be sold as three individual tracts using the "Buyers Choice" auction method on a price per acre basis, and the high bidder can take, in any order, one, two or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all tracts have been purchased and removed from the auction. The farms are located just south of Dunnell, Minnesota, a mile north of the Iowa-Minnesota border, and a half mile west of State Highway 4. Mark your calendars for Tuesday, November 2, 2021 at 10:00 AM Central. Bidding may be handled in person or virtually on our mobile bidding app.

 

Legal Description

Tract 1: S1/2 of SE1/4 of Section 21, Township 101 North, Range 33 West of the 5th P.M.
Tract 2: NW1/4 EXCEPT 10.1 Acre Building Site in Section 27, Township 101 North, Range 33 West of the 5th P.M.
Tract 3: N1/2 of SW1/4 of Section 27, Township 101 North, Range 33 West of the 5th P.M.
*Exact Legal Descriptions to be taken from the Abstract and Title Policy.

  • Sign On Property: Yes
  • Parcel Number: 110210250, 110210200, 110270750 & 110270800
  • School District: Martin County West
  • General Area: South of Dunnell, MN
  • Online Bidding: Yes
  • Auction Date: Nov 2, 2021
  • Possession: At closing, subject to tenants rights
  • Terms: Cash, conventional

Directions

From Dunnell: Travel south out of town on State Highway 4 for approximately 2 miles to 30th street. Turn right (west) onto 30th Street and travel for approximately 0.8 miles to 40th Avenue. Tract 1 is located on the northwest corner of the intersection. Tract 2 is located on the southeast corner of the intersection. Tract 3 is located a half mile south of the intersection on the east side of the road. Look for Peoples Company signs.


Bid Online

Auction Details

Martin County Land Auction
309.9 Acres M/L
Offered in Three Tracts
Tuesday, November 2nd, 2021
10:00 AM Central

Seller: Arare Farms LTD & Majestic Farms 

Auction Location: 
Dunnell Community Center 
145 West Wenberg Street
Dunnell, MN 56127

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

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

Tract 1: 80 Acres M/L
Tract 2: 149.9 Acres M/L
Tract 3: 80 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 Martin 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 Martin 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 Southwest Minnesota Title, LLC's Trust Account.

Closing: Closing will occur on or before Wednesday, December 15th, 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. The lease has been terminated and the farm 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 Southwest Minnesota Title, LLC the required earnest money payment. The Seller will furnish an updated abstract and recent title insurance commitment for an Owner’s Policy in the amount equal to the purchase price prior to closing. The premium costs of the owner’s policy of title insurance shall be split 50% to the Seller and 50% to the Buyer of each tract. 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


Tract 1 - 30th Street / 40th Avenue, Dunnell, MN 56127

Description

Tract 1 consists of 80 acres m/l with 77.11 FSA NHEL cropland acres carrying a PI of 92.2. Primary soil types include Canisteo-Glencoe complex and Glencoe clay loam. Over 25,000 feet of tile was installed in 2017 and added to the existing tile. A JD #10 20" main runs through the corner of this tract. See tile map attachment for approximate location(s). The current lease has been terminated and will be open for the 2022 cropping season. Tract 1 is located just south of Dennell along 30th Street and 40th Avenue in Section 21 of Lake Fremont Township in Martin County, Minnesota.

  • FSA Cropland Acres: 77.11
  • Corn: 38.6 Base Acres with a PLC yield of 154
  • Soybeans: 35.3 Base Acres with a PLC yield of 37
Legal Description

The S 1/2 of the SE 1/4 of Section 21 located in Lake Fremont Township of Martin County, Minnesota. Exact legal to be taken from the Abstract/Title Commitment.

Details
  • Acres: 80.00 Acres M/L
  • Parcel Number: 110210250 & 110210200
  • Net Taxes: $3,376.00
  • Productivity Index: 92.2

Directions

 

From Dunnell: Travel south out of town on State Highway 4 for approximately 2 miles to 30th Street. Turn right (west) onto 30th Street and travel for approximately 0.8 miles to 40th Avenue. Tract 1 is located on the northwest corner of the intersection. Tract 2 is located on the southeast corner of the intersection. Tract 3 is located a half mile south of the intersection on the east side of the road. Look for Peoples Company signs.


Tract 2 - 30th Street / 40th Avenue, Dunnell, MN 56127

Description

Tract 2 consists of 149.9 acres m/l with 146.9 NHEL cropland acres m/l carrying a PI of 92.8. Primary soil types include Canisteo-Glencoe complex and Webster clay loam. A Sukup grain bin built in 2016 with 3 centrifugal fans and a capacity to hold approximately 56,000 bushel is located on the northern edge of the farm. This tract is located in the JD #10 district and has had extensive new tile installed in 2017 as well as existing tile including a 10" and 12" main. See tile map attachment for approximate location(s). The current lease has been terminated and will be open for the 2022 cropping season. Possession of the grain bin will be given to the Buyer on August 1, 2022. Tract 2 is located south of Dunnell along 30th Street and 40th Avenue in Section 27 of Lake Fremont Township in Martin County, Minnesota.

  • Estimated FSA Cropland Acres: 146.9
  • Corn: 77.85 Estimated Base Acres with a PLC Yield of 154
  • Soybeans: 69.05 Estimated 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 per the default method when the Farm is reconstituted by the Martin County FSA office. 

Legal Description

The NW 1/4 EXCEPT the 10.1 acres in the NE corner of Section 27 in Lake Fremont Township in Martin County, Minnesota. Exact legal to be taken from Abstract/Title Policy.

Details
  • Acres: 149.90 Acres M/L
  • Parcel Number: 110270750
  • Net Taxes: $6,780.00
  • Productivity Index: 92.8

Directions

 

From Dunnell: Travel south out of town on State Highway 4 for approximately 2 miles to 30th Street. Turn right (west) onto 30th Street and travel for approximately 0.8 miles to 40th Avenue. Tract 1 is located on the northwest corner of the intersection. Tract 2 is located on the southeast corner of the intersection. Tract 3 is located a half mile south of the intersection on the east side of the road. Look for Peoples Company signs.


Tract 3 - 40th Avenue , Dunnell , MN 56127

Description

Tract 3 consists of 80 acres m/l with 79.81 NHEL cropland acres m/l carrying a PI of 93.8. Primary soil types include Canisteo-Glencoe complex and Nicollet-Crippin complex. A JD #10 20" main runs through the corner of this tract. The farm has had extensive new tile installed in 2017 as well as existing tile. See tile map attachment for approximate location(s). The current lease has been terminated and will be open for the 2022 cropping season. Tract 3 is located south of Dunnell along 40th Avenue in Section 27 of Lake Fremont Township in Martin County, Minnesota.

  • Estimated FSA Cropland Acres: 79.81
  • Corn: 42.29 Estimated Base Acres with a PLC yield of 154
  • Soybeans: 37.52 Estimated 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 per the default method when the Farm is reconstituted by the Martin County FSA office.

Legal Description

The N 1/2 of the SW 1/4 located in Section 27 of Lake Fremont Township in Martin County, Minnesota. Exact legal to be taken from the Abstract/Title Policy.

Details
  • Acres: 80.00 Acres M/L
  • Parcel Number: 110270800
  • Net Taxes: $3,458.00
  • Productivity Index: 93.8

Directions

 

From Dunnell: Travel south out of town on State Highway 4 for approximately 2 miles to 30th Street. Turn right (west) onto 30th Street and travel for approximately 0.8 miles to 40th Avenue. Tract 1 is located on the northwest corner of the intersection. Tract 2 is located on the southeast corner of the intersection. Tract 3 is located a half mile south of the intersection on the east side of the road. Look for Peoples Company signs.


INTERACTIVE MAP

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PHOTOS

Tract 1 Photos

Tract 2 Photos

Tract 3 Photos