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Montgomery County, IA
702.76 Acres M/L

Highway 34
Villisca, IA 50864

Price	Click to Bid Online
Listing	#15724

LAND AGENT

Eric Lonnevik

Office: 515.222.1347
Mobile: 515.473.0278
Eric@PeoplesCompany.com

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PRESIDENT

Steve Bruere

Office: 515.222.1347
Steve@PeoplesCompany.com

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Property Info

Description

Peoples Company along with the Lund Company are pleased to present the sale of 702.76 acres m/l of high-quality Montgomery County farmland. The Farm will be sold as seven individual tracts through the Multi Parcel Auction Method where tracts can be purchased individually or any combination. Tract sizes range from 1.65 acres m/l to 186.26 acres m/l. The auction will take place Wednesday, October 20th at 2 pm at the Cass County Community Center, 805 W. 10th Street Atlantic, Iowa 50022.

The farm is comprised of 647.15 FSA cropland acres with top producing soils including Colo silt loam, Marshall silty clay loam and Minden silty clay loam which carry an overall farm average CSR2 rating of 80.6. The balance of the FSA cropland acres consists of 12.73 acres of CRP with an annual payment of $4,428. Farm improvements include 5 grain bins with estimated grain storage totaling approximately 107,000 bushels. Located in a strong farming community, these tracts would make for a great add-on to an existing farm operation or investment-grade quality land purchase.

These tracts are conveniently located along both sides of Highway 34 near the Highway 34/71 interchange providing quick access to nearby grain marketing options.

A three percent (3%) Buyer's Premium will be added to the final bid price and included in the total purchase price.

Legal Description

Exact Legal description to be taken from Abstract.

Directions

From the Highway 34/71 Interchange: Travel west on Highway 34 for 1 mile to T Avenue. Tracts 1,2,3,4, and 6 will be located on the north side of the road along T Avenue and Tract 5 will be located on the southeast corner of T Avenue and Highway 34. Look for Peoples Company signs.

Sign On Property: Yes
MLS Number: 637745
Parcel Number: 833300003
School District: Villisca Community Schools
General Area: North of Villisca
Zoning: Agricultural

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Tracts

Tract 1 - T Avenue, Villisca, IA 50864

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Description

Tract 1 consist of a total of 75.62 acres m/l with an estimated 72.35 FSA Cropland acres carrying a CSR2 of 86.3. The primary soil types include the highly productive Colo silt loam, Marshall silty clay loam, and Minden silty clay loam. Located along the west side of T Avenue, this tract is located in Section 32 of Washington Township, Montgomery County, Iowa.

Estimated FSA Cropland Acres: 72.35
Corn: 43.38 base acres with a PLC Yield of 143
Soybeans: 23.63 base acres with a PLC Yield of 47
Farm is enrolled in ARC-CO.
*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 Montgomery County FSA office.

Details

Acres: 75.62 Acres M/L
Parcel Number: 832400002, 0832400005
Net Taxes: $2,852.00

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Tract 2 - T Avenue, Villisca, IA 50864

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Description

Tract 2 consist of a total of 80.72 acres m/l with an estimated 75.1 FSA Cropland acres carrying a CSR2 of 80.7. The primary soil types include the highly productive Kennebec silt loam, Colo silty clay loam, and Nodaway silt loam. Located along the east side of T Avenue, this tract is located in Section 33 of Washington Township, Montgomery County, Iowa.

Estimated FSA Cropland Acres: 75.1
Corn: 44.56 base acres with a PLC Yield of 143
Soybeans: 26.84 base acres with a PLC Yield of 47
Farm is enrolled in ARC-CO.
*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 Montgomery County FSA office.

Details

Acres: 80.72 Acres M/L
Parcel Number: 833100008, 0833100003, 0833100005
Net Taxes: $2,720.00
CSR2: 80.70

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Tract 3 - T Avenue, Villisca, IA 50864

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Description

Tract 3 consist of a total of 153.5 acres m/l with an estimated 131.91 FSA Cropland acres carrying a CSR2 of 76.9. This tract includes 3.40 acres of CRP, enrolled in the CP21 program, with a total annual payment of $1,237.60 through 2025. The primary soil types include the highly productive Zook silty loam, Colo silty clay loam, and Bremer silty clay loam. Located along the east side of T Avenue, this tract is located in Section 33 of Washington Township, Montgomery County, Iowa.

Estimated FSA Cropland Acres: 131.91
Corn: 79.08 base acres with a PLC Yield of 143
Soybeans: 47.82 base acres with a PLC Yield of 47
Farm is enrolled in ARC-CO.
*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 Montgomery County FSA office.

Details

Acres: 153.50 Acres M/L
Parcel Number: 833300001, 0833300002, 0833300004, 0833300003
Net Taxes: $4,924.00
CSR2: 76.90

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Tract 4 - Highway 34 & T Avenue, Villisca, IA 50864

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Description

Tract 4 consist of a total of 179.98 acres m/l with an estimated 160.34 FSA Cropland acres carrying a CSR2 of 75.9. The primary soil types include the highly productive Bremer silty clay loam, Zook silty clay loam, and Colo silty clay loam. Located on the northeast corner of T Avenue and Highway 34, this tract is located in Section 4 of East Township, Montgomery County, Iowa.

*The Iowa DOT recently purchased 2.53 acres m/l along the West Nodaway River . Tract boundaries and acres may change prior to the auction.

*Estimated FSA Cropland Acres: 160.34
Corn: 96.13 base acres with a PLC Yield of 143
Soybeans: 58.13 base acres with a PLC Yield of 47
Farm is enrolled in ARC-CO.
*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 Montgomery County FSA office.

Details

Acres: 179.98 Acres M/L
Parcel Number: 1204100001, 1204100002, 1204200001, 1204100003, 1204100004, 1204200005
Net Taxes: $6,524.00
CSR2: 75.90

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Tract 5 - Highway 34 & T Avenue, Villisca, IA 50864

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Description

Tract 5 consist of a total of 186.26 acres m/l with an estimated 168 FSA Cropland acres carrying a CSR2 of 83.8. This tract also includes 8.18 acres of CRP, enrolled in the CP21 practice, with an annual payment $2,977.52 through 2025 and 1.15 acres of CRP enrolled in CP21 practice with an annual payment of $213. The primary soil types include the highly productive Bremer silty clay loam, Marshall silty clay loam, and Zook silty clay loam. Located on the southeast corner of T Avenue and Highway 34, this tract is located in Section 4 of East Township, Montgomery County, Iowa.

Estimated FSA Cropland Acres: 168
Corn: 100.72 base acres with a PLC Yield of 143
Soybeans: 60.90 base acres with a PLC Yield of 47
Farm is enrolled in ARC-CO.
*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 Montgomery County FSA office.

Details

Acres: 188.26 Acres M/L
Parcel Number: 1204300001, 1204300010, 1204300013, 1204300006, 1204300007, 1204300009, 1204400001, 1204400002, 1204400003
Net Taxes: $6,374.00
CSR2: 83.80

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Tract 6 - Highway 34 & T Avenue, Villisca, IA 50864

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Description

Tract 6 consist of a total of 25.03 acres m/l with an estimated 24.52 FSA Cropland acres carrying a CSR2 of 94.2. The primary soil type includes the highly productive Marshall silty clay loam. Located on the northwest corner of T Avenue and Highway 34, this tract is located in Section 5 of East Township, Montgomery County, Iowa.

Estimated FSA Cropland Acres: 24.52
Corn: 14.70 base acres with a PLC Yield of 143
Soybeans: 8.89 base acres with a PLC Yield of 47
Farm is enrolled in ARC-CO.
*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 Montgomery County FSA office.

Details

Acres: 24.52 Acres M/L
Parcel Number: 1205200009
Net Taxes: $1,032.00
CSR2: 94.20

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Tract 7 - T Avenue, Villisca, IA 50864

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Description

Tract 7 consists of a total of 1.65 acres m/l and contains the grain storage facility for farm. The grain bin site contains five bins with a total grain storage capacity of approximately 110,000 bushels. There are two 40,000 bushel GSI grain bins built in 2007 and 2010 respectively and three Stormor 9,000 bushel bins built in the 1970's complete with drying fans. Located along the east side of T Avenue, this tract is located in Section 4 of East Township, Montgomery County, Iowa. This tract is currently being surveyed and the exact acres are subject to change prior to the auction.

*Possession of the grain storage facility will be delivered on or before September 1, 2022.

Details

Acres: 1.65 Acres M/L
Parcel Number: 561204100001000

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Auction Details & Terms

Montgomery County Land Auction
702.76 Acres M/L
Offered in Seven Separate Tracts
Wednesday, October 20, 2021
2:00 PM

Auction Location:
Cass County Community Center
805 W 10th Street
Atlantic, Iowa 50022

Auction Method: The Farm will be offered in 7 individual tracts via the Multi-Parcel Auction Method where tracts will be able to be purchased individually or any combination. All tracts will be offered in "whole dollar" amounts.

Bidder Registration: All prospective bidders must register with Peoples Company and/or The Lund Company Cushman/Wakefield (the "Auction Company") and receive a bidder number in order to bid at the auction.

Buyers Premium: Purchaser will be responsible for payment of a premium of Three Percent (3%) of the purchase price, such amount to be payable at Closing.

Agency: The Auction 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 Montgomery County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Auction Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Montgomery 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 about Tuesday, November 23rd, 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 Property shall be granted to the Buyer(s) at closing, subject to tenant’s rights and the 2021 crops being removed EXCEPT for the grain storage facility on Tract 7 which possession shall delivered on or before September 1, 2022.

Farm Lease: All leases for the 2021 crop year have 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 Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense.

Financing: Purchaser’s obligation to purchase the Property is unconditional and is not contingent upon Purchaser obtaining financing. Any and all financial arrangements are to have been made prior to bidding at the auction. By the mere act of bidding, the bidder makes a representation and warrants that the bidder has the present ability to pay the bid price and fulfill the terms and conditions provided in the Contract.

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.

Surveys: Surveys will be completed by the Seller for Tract 7. Tract acreages are subject to change prior to the auction. No additional surveying or staking will be provided by the Seller.

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, Auction Company, or Seller. All bids will be on a per acre basis. The Auction 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 Auction 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.