Upcoming Auction

Fayette County, IA
151.86 Acres M/L

Outer Road / 6th Street Northeast
Oelwein, IA 50662

Price	Click to Bid Online
Listing	#19551

Senior Land Agent

Travis Smock

Office: 855.800.LAND
Mobile: 319.361.8089
Travis.Smock@PeoplesCompany.com

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Description

Fayette County, Iowa Farmland Auction – Mark your calendars for Thursday, August 27th, 2026! Peoples Company is pleased to present the opportunity to purchase 151.86 surveyed acres of Fayette County, Iowa farmland located just outside the Oelwein city limits. Offered in two individual tracts, this farm presents an excellent opportunity for farmers, investors, development speculators, and buyers seeking high-quality Iowa farmland with strong long-term potential.

The property consists of 151.86 surveyed acres and will be offered as two separate tracts. Tract 1 contains 108.32 surveyed acres with an estimated 102.89 cropland acres, carrying an impressive CSR2 soil rating of 84.4. Tract 2 consists of 43.54 surveyed acres with an estimated 40.74 cropland acres, carrying an average CSR2 soil rating of 85.3. Both tracts are considered NHEL (Non-Highly Erodible Land), and feature highly productive soils that exceed the Fayette County average CSR2, with the predominant soil type being Kenyon Loam.

The farm is currently enrolled in the Conservation Reserve Program (CRP), with the majority of the contracts expiring in 2026, allowing for immediate possession at closing. Tract 1 has one CP5A field windbreak CRP contract remaining, covering 1.67 acres and paying $393.20 per acre or $657.00 annually through 2030.

The land is situated directly adjacent to the city limits of Oelwein, Iowa, creating the potential for future development. Tract 2 has road frontage along 6th Street NE and 8th Avenue NE, with sewer and water located along 8th Avenue. The land is currently zoned Agriculture with adjacent properties zoned Residential.

The auction will be held Thursday, August 27th, 2026, at 10:00 AM at Transco Events on Frederick. The farm will be offered in two individual tracts via the Buyer's Choice auction method, where the high bidder may take one or both tracts at the high bid amount.

Legal Description

Tract 1: Parcel A in the West Half of Section 15, Township 91 North, Range 9 West of the 5th P.M., Fayette County, Iowa.
Tract 2: Parcel B in the West Half of the Southwest Quarter of Section 15, Township 91 North, Range 9 West of the 5th P.M., Fayette County, Iowa.

Directions

From Downtown Oelwein: Travel east on East Charles Street to Outer Road. Head north on Outer Road for 1/2 mile to 6th Street NE. Continue north on Outer Road for 1/4 mile, and Tract 1 will be located on the west side of the road. From the 6th Street intersection, travel west for 1/4 mile, and Tract 2 will be located on the north side of the road. Tract 2 also has road frontage along 8th Avenue NE.

Sign On Property: Yes
Parcel Number: 1815300001
School District: Oelwein Community School District
General Area: Northeast of Oelwein
Net Taxes: $5,692.00
CSR2: 84.7
Zoning: Ag

Interactive Map

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Video

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Tract 1 - Map Binder

Tract 2 - Map Binder

Recorded Survey

Marketing Brochure

Tracts

Tract 1 - Outer Road, Oelwein, IA 50662

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Description

Tract 1 includes 108.32 surveyed acres with 102.89 estimated cropland acres and a strong CSR2 of 84.4. Approximately 101.22 acres are in row‑crop production (CSR2 84.3). An additional 1.67 acres are enrolled in a CP5A windbreak CRP contract paying $657 annually through 2030. Removing terraces would create potential to increase the tillable acres. Soils consist mainly of Kenyon and Floyd loams and are classified NHEL. This tract is located northeast of Oelwein along Outer Road in Section 15, Jefferson Township, Fayette County, Iowa.

Legal Description

Parcel A in the West Half of Section 15, Township 91 North, Range 9 West of the 5th P.M., Fayette County, Iowa.

Details

Acres: 108.32 Acres M/L
Parcel Number: Part of 1815300001
Net Taxes: $4,100.00
CSR2: 84.4

Directions

From Downtown Oelwein: Travel east on East Charles Street to Outer Road. Head north on Outer Road for 3/4 mile, and Tract 1 will be located on the west side of the road.

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Tract 2 - 6th Street NE / 8th Avenue NE, Oelwein, IA 50662

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Description

Tract 2 includes 43.54 surveyed acres with 40.74 estimated cropland acres and an excellent CSR2 of 85.3. Removal of terraces may offer potential to increase tillable acres. Soils consist mainly of Kenyon loam and are classified NHEL. Utilities are located along 8th Avenue NE, allowing for the possibility of future development. The surrounding properties within the Oelwein, Iowa city limits are zoned residential. This tract is located adjacent to the city of Oelwein along 8th Avenue NE and 6th Street NE in Section 15, Jefferson Township, Fayette County, Iowa.

Legal Description

Parcel B in the West Half of the Southwest Quarter of Section 15, Township 91 North, Range 9 West of the 5th P.M., Fayette County, Iowa.

Details

Acres: 43.54 Acres M/L
Parcel Number: Part of 1815300001
Net Taxes: $1,592.00
CSR2: 85.3

Directions

From Downtown Oelwein: Travel east on East Charles Street to Outer Road. Head north on Outer Road for 1/2 mile to 6th Street NE. Travel west on 6th Street NE for 1/4 mile, and Tract 2 will be located on the north side of the road. This tract also has road frontage along 8th Avenue NE.

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Auction Details & Terms

Auction Location Map

Fayette County Land Auction
151.86 Surveyed Acres (Offered in Two Tracts)
Thursday, August 27th, 2026 at 10:00 AM

Auction Location:

Transco Events on Frederick

137 S Frederick Ave
Oelwein, Iowa 50662

Auction Method: The two tracts will be offered via Public Auction and will take place at 10:00 AM at Transco Events on Frederick in Oelwein, Iowa. The two farmland tracts will be sold on a per-acre basis and offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take one or both tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all farmland tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety after the auction. This auction can also be viewed through a Virtual Online Auction option with online bidding available.

Tract 1: 108.32 Surveyed Acres M/L
Tract 2: 53.54 Surveyed 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. Online and phone bidders must register with the Auctioneer at least 24 hours prior to the start of the auction. Peoples Company and its representatives are agents of the Seller.

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 a 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.

Farm Program Information: Farm Program Information is provided by the Fayette 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 Fayette 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 the Peoples Company Trust Account.

Closing: Closing will occur on or before Thursday, October 1, 2026. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer.

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

Farm Lease: There is no farm lease on either tract. All of the CRP contracts, except one 1.67 acre contract, expire on September 30, 2026; therefore, full possession will be given at closing.

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, which can accept or reject any and all bids. The winning bidder(s) acknowledge that they are representing themselves in completing the auction sales transaction. Any announcements made on 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. The buyer should perform his/her investigation of the property before 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 the Abstract.