Sold
Boone County, IA
157.30 Acres M/L
G Avenue
Perry, IA 50220
| Price | |
| Listing | #17700 |
Property Info
Description
High-Quality Farm in Strong Farming Neighborhood Offered for Sale through the Sealed Bid Auction Method – Peoples Company represents the beneficiaries of the Alice L. Hoffman Revocable Trust in the sale of 157.30 acres m/l of Boone County, Iowa farmland. The ‘Hoffman Trust Farmland’ heritage began in 1951 with the purchase of this farm by Harold & Opal Hoffman; having provided returns for three generations and now being available to the public for the first time in 73 years. The farmland will be offered through a Sealed Bid Auction with all bids for the property due before 4:00 PM (CST) on Wednesday, September 4th, 2024. Bidders will have a single opportunity to bid on this farmland and a live auction will not follow the Sealed Bid Auction. Please contact the Listing Agent for a copy of the form to submit your bid.
The farm is located 4 miles northeast of Perry, Iowa at the intersection of 335th Street and G Avenue on the Boone County side of the Boone / Dallas County line and in Section 31 of Peoples Township. Of the total 157.3 gross acres m/l, there are 144.40 NHEL FSA cropland acres with a CSR2 soil rating of 88, compared to the Boone County, Iowa average CSR2 soil rating of 75.5. Primary soil types include highly productive Clarion loam, Webster clay loam, and Nicollet loam. The farm has been leased by a local operator for several years. The farm lease will be terminated and the 2025 farming rights will be made available to the Buyer.
Drainage on this farm has been greatly improved with substantial drainage tile installation, with tile line sizes including 3” up to 15”. The most recent drainage tile was installed in 1990 and 1992 with 6,070 feet of 5" tile and 692 feet of 6" tile added to the farm. Most of the drainage tile flows into a 15” main, which is located in the well-established waterway located in the middle of the farm. The main then outlets water from the property to the neighboring property to the south. See the attachments for the full drainage tile map.
The farm is located near several main highways including the following. These road systems allow access to both local grain elevators /cooperatives and ethanol plans, as well as the opportunity to sell grain to expanded non-local markets.
- ½ mile from US Hwy 169
- 2 miles from Iowa Hwy 141
- 11 miles from US Hwy 30
The farm is located 4 miles northeast of Perry, Iowa at the intersection of 335th Street and G Avenue on the Boone County side of the Boone / Dallas County line and in Section 31 of Peoples Township. Of the total 157.3 gross acres m/l, there are 144.40 NHEL FSA cropland acres with a CSR2 soil rating of 88, compared to the Boone County, Iowa average CSR2 soil rating of 75.5. Primary soil types include highly productive Clarion loam, Webster clay loam, and Nicollet loam. The farm has been leased by a local operator for several years. The farm lease will be terminated and the 2025 farming rights will be made available to the Buyer.
Drainage on this farm has been greatly improved with substantial drainage tile installation, with tile line sizes including 3” up to 15”. The most recent drainage tile was installed in 1990 and 1992 with 6,070 feet of 5" tile and 692 feet of 6" tile added to the farm. Most of the drainage tile flows into a 15” main, which is located in the well-established waterway located in the middle of the farm. The main then outlets water from the property to the neighboring property to the south. See the attachments for the full drainage tile map.
The farm is located near several main highways including the following. These road systems allow access to both local grain elevators /cooperatives and ethanol plans, as well as the opportunity to sell grain to expanded non-local markets.
- ½ mile from US Hwy 169
- 2 miles from Iowa Hwy 141
- 11 miles from US Hwy 30
Legal Description
The Northwest Quarter (NW1/4) of the Southwest Fractional Quarter (SW frl 1/4), Except part of Parcel A thereof; the Southwest Quarter (SW1/4) of the Southwest Fractional Quarter (SW frl 1/4), Except part of Parcel A thereof; the West 35.50 Acres of the Northeast Quarter of the Southwest Quarter (NE1/4 SW 1/4); AND the West 35.5 Acres of the Southeast Quarter of the Southwest Quarter (SE1/4 SW1/4); all in Section Thirty-one (31), Township Eighty-two (82) North, Range Twenty-seven (27) West of the 5th P.M., Boone County, Iowa. Exact legal description to be taken from Abstract.
Directions
From Perry, Iowa: Head east on Iowa Highway 141. Turn left (north) onto M Avenue, which turns into G Avenue in Boone County, for 2 miles. The farm will be on the right-hand (east) side of the road. Look for signs.
- Sign On Property: Yes
- MLS Number: 699501
- Parcel Number: 088227313200002, 088227313100002, 088227313400002, 088227313300002
- General Area: Northeast of Perry, Iowa
- CSR2: 88.00
- Zoning: Agricultural
Interactive Map
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Auction Details & Terms
Boone County, Iowa Sealed Bid Auction
157.30 m/l Gross Acres
Sealed Bid Submittal Process & Deadline: Sealed Bids for this property will be due to our office, at the address below, before 4:00 p.m. CST, on Wednesday, September 4th, 2024.
Matt Adams and/or Andrew Zellmer
Peoples Company
12119 Stratford Drive, Suite B
Clive, IA 50325
Matt@PeoplesCompany.com - 515.423.9235
AndrewZ@PeoplesCompany.com - 712.898.5913
Bids for the Property shall be submitted on the Sealed Bid Submittal Form that can be obtained by contacting Peoples Company. Please make additional copies as necessary. Handwritten bids, if legible, are acceptable. Bids will be accepted by mail or email. Seller reserves the right to select the best bid, counter any bids, or remove the property from the market in its sole and absolute discretion.
Should Seller elect to counter any bid, Bidder shall have the right to rescind their bid or make a counter offer. After this period, the successful Bidder will be notified. The sale of this farm is not contingent upon Buyer financing. All financial arrangements are to have been made prior to submitting a bid. By submitting a bid, the bidder makes a representation that he/she has the present ability to perform at the bid price and will fulfill all obligations within the Real Estate Sale and Purchase Agreement. Clients must be registered with a listing broker at least 48 hours prior to bid submittal deadline. Participating brokers please contact listing agent for details and forms.
Earnest Money Payment: An earnest money payment of 10% of purchase price will be due upon acceptance and notification of successful offer. The earnest money payment may be paid in the form of cash or check. All funds will be held in the Peoples Company Trust Account.
Closing: Closing will take place October 8th, 2024 or as agreed upon by the parties, of the awarding of the Property to the successful Bidder subject to preparation and full execution and contract of deeds. Upon acceptance and notification of successful bid, the Buyer will enter into a Real Estate Purchase and Sales Contract.
Possession: Possession at closing, subject to Tenant's Rights.
Farm Lease: The lease will be terminated prior to closing, subject to Tenant's Rights.
Contract & Title: Successful buyer 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.
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 Peoples Company, or Seller. All bids will be on a whole dollar amount. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction.
Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. 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.
157.30 m/l Gross Acres
Sealed Bid Submittal Process & Deadline: Sealed Bids for this property will be due to our office, at the address below, before 4:00 p.m. CST, on Wednesday, September 4th, 2024.
Matt Adams and/or Andrew Zellmer
Peoples Company
12119 Stratford Drive, Suite B
Clive, IA 50325
Matt@PeoplesCompany.com - 515.423.9235
AndrewZ@PeoplesCompany.com - 712.898.5913
Bids for the Property shall be submitted on the Sealed Bid Submittal Form that can be obtained by contacting Peoples Company. Please make additional copies as necessary. Handwritten bids, if legible, are acceptable. Bids will be accepted by mail or email. Seller reserves the right to select the best bid, counter any bids, or remove the property from the market in its sole and absolute discretion.
Should Seller elect to counter any bid, Bidder shall have the right to rescind their bid or make a counter offer. After this period, the successful Bidder will be notified. The sale of this farm is not contingent upon Buyer financing. All financial arrangements are to have been made prior to submitting a bid. By submitting a bid, the bidder makes a representation that he/she has the present ability to perform at the bid price and will fulfill all obligations within the Real Estate Sale and Purchase Agreement. Clients must be registered with a listing broker at least 48 hours prior to bid submittal deadline. Participating brokers please contact listing agent for details and forms.
Earnest Money Payment: An earnest money payment of 10% of purchase price will be due upon acceptance and notification of successful offer. The earnest money payment may be paid in the form of cash or check. All funds will be held in the Peoples Company Trust Account.
Closing: Closing will take place October 8th, 2024 or as agreed upon by the parties, of the awarding of the Property to the successful Bidder subject to preparation and full execution and contract of deeds. Upon acceptance and notification of successful bid, the Buyer will enter into a Real Estate Purchase and Sales Contract.
Possession: Possession at closing, subject to Tenant's Rights.
Farm Lease: The lease will be terminated prior to closing, subject to Tenant's Rights.
Contract & Title: Successful buyer 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.
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 Peoples Company, or Seller. All bids will be on a whole dollar amount. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction.
Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. 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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