Wayne County, IA

King Road
Allerton, IA 50008

140 Acres M/L

Listing #16619

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Peoples Company is pleased to be representing Legacy Landscape, LLC with the auction of 140 acres m/l of productive Wayne County, Iowa farmland. This farm, located along the western edge of Wayne County, features high-quality NHEL tillable acres with additional acres in hay production and enrolled into CRP. There are 129.62 FSA tillable acres with an average CSR2 rating of 53.9. Of those FSA tillable acres, there are 75.13 acres m/l that are currently in row crop production which are classified as NHEL acres that carry an average CSR2 of 60.6. This farm also has an estimated 17.04 acres that are currently in hay production and could be put back into row crops if a new owner chose to. The remainder of this farm contains 36.49 FSA tillable acres that are enrolled into CRP and paying $5,719 per year expiring in 2027 along with a 1/2 acre pond and 2 older grain bins.

This farm will be offered via a live Public Auction that will take place at 10:00 AM on Friday, March 10, 2023, at the Wayne County Fair Event Center located at 800 2nd Avenue in Corydon, Iowa. The land will be sold as one tract and on a price per acre basis. This auction can also be viewed through the Peoples Company mobile bidding app and online bidding will be available.

Legal Description

140 acres m/l located in Section 5 Township 68N Range 23W Wayne County, Iowa. Exact legal description to be taken from Abstract.

Farm Details

36.49 acres in CRP paying $156.72 per acre for a total yearly payment of $5,719 till 09/30/2027.

  • Sign On Property: Yes
  • MLS Number: 666776
  • Parcel Number: 090B05200005,090B05200004,090B05200002,090B05200001
  • School District: Wayne County
  • General Area: Allerton
  • Net Taxes: $2,548.00
  • Online Bidding: Yes
  • Auction Date: Mar 10, 2023
  • Possession: Closing
  • Terms: Cash


From Humeston, Iowa, travel south on Highway 65 for approximately 9 miles to King Road. Travel west on King Road for approximately 1 mile to the farm located along the south side of the road just before the intersection of King Road and 25th Street. Watch for Peoples Company auction signs.

From Corydon, Iowa travel west on Highway 2 for approximately 9.5 miles to Highway 65. Travel south on Highway 65 for approximately 2.5 miles to King Road. Travel west on King Road for approximately 1 mile to the farm located along the south side of the road just before the intersection of King Road and 25th Street. Watch for Peoples Company auction signs.


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Auction Details

#16619 Wayne County Auction Terms & Conditions

Legacy Landscape, LLC

Attorney for the Seller: 
Jenna K. Lain, Attorney at Law
Meyer & Lain Corydon, Iowa 50060

Auction Location:
Wayne County Fair Event Center
800 2nd Avenue
Corydon, Iowa 50060

Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Auction Method: The farm will be sold as one tract and on a price per acre basis.

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 a good check or wire transfer. All funds will be held in the Meyer & Lain Trust Account.

Closing: Closing will occur on or around Tuesday, April 25th, 2023. The balance of the purchase price will be payable at closing in the form of a certified check or wire transfer. With respect to the timing of the Seller and successful Buyer in fulfilling the obligations set forth in the Real Estate Sale and Purchase Agreement, time is of the essence.

Possession: Full possession of the farm will be given at closing.

Farm Lease: There are no leases on the farm. The farm will be open for the 2023 farming season.

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Meyer & Lain Trust Account the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing after the auction is over. All financial arrangements are to have been made prior to bidding at the auction. 

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. Online and phone bidders must register with the Auctioneer at least 24 hours prior to the start of the auction.

Fences: Existing fences, if any, are in as-is condition and will not be updated. Not all property lines may have fences installed. All current and any future fences and fence lines shall be governed by the Wayne County and State of Iowa fence line rules and regulations. Existing fence lines may not be located on the true boundary lines.

Site Cleanup: If a site clean-up is required, it will be the new Buyer’s responsibility and at Buyer’s expense. All personal property including the two piles of tires located near the grain bins will remain with the property.

Farm Program Information: Farm Program Information is provided by the Wayne County Farm Service Agencies. 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 Wayne County FSA and NRCS offices.

Other: The sale of this farm is subject to all easements, covenants, leases, and restrictions of record. All property is being sold on an “As is – Where is” basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. 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 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.



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