Jasper County, IA
136.72 Acres M/L

E 72nd Street S
Reasnor, IA 50232

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Listing	#19304

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Matt Adams

Office: 855.800.LAND
Mobile: 515.423.9235
Matt@PeoplesCompany.com

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Description

High Quality Farmland in Strong Farming Area! Jasper County, Iowa Farmland Auction on Friday, June 19th, 2026, at 10 AM at the Sully Community Center!

Peoples Company is pleased to be representing the Klein Family Farm LLC in the sale of their family farm located in southeast Jasper County, Iowa, and just west of Sully, Iowa. The Klein Family Farm is a long tenured family farm with proud ownership of this family heirloom, spanning multiple generations, and a rare opportunity to acquire high quality farmland in a tightly held area. The Klein Family name has been part of the farming history as well as a respected surname in the local community, with a shared feeling of respect and admiration for the community by the current members of the Klein family.

The Klein Family Farms includes a total of 136.72 acres m/l and will be offered as two individual tracts through the Buyer’s Choice Auction Method. Both farmland tracts are leased for the 2026 crop year and have been operated by a long-term, reputable farm tenant who has served as an excellent steward of the farmland through farming practices and a high level of maintenance. The Winning Bidder / Buyer will receive the second half of the cash rent payment for the 2026 farm year. Please contact the agent for lease and payment details.

Tract 1: 66.46 acres m/l with 64.06 NHEL FSA cropland acres and a CSR2 soil rating of 89.4. Located in Section 6 of Elk Creek Township.

Tract 2: 70.26 acres m/l with 66.79 HEL FSA cropland acres and a CSR2 soil rating of 73. Located in Section 5 of Elk Creek Township.

The farmland tracts are nearly 100% tillable and have average CSR2 soil ratings above the Jasper County, Iowa, average CSR2 soil rating of 68.5. The primary soil types include top-producing Otley silty clay loams and Mahaska silty clay loams. With only a gravel road separating the two tracts (E 72nd Street S), these farms lend themselves to both the Buyer looking for a smaller, more affordable tract as well as the Buyer looking for larger farmland holdings.

These tracts should be attractive to a variety of farmland Buyers including the beginning farmer, an investor looking to diversify their portfolio, or an existing farm operation looking to add-on. Conveniently located near multiple state highways and grain marketing options, including Two Rivers Cooperative and Heartland Co-op.

The two tracts will be offered on a price-per-acre basis via Public Auction and will take place on Friday, June 19th, 2026, at 10:00 AM CST at the Sully Community Center in Sully, Iowa. The farm will be sold as two separate tracts using the "Buyers Choice" auction method, where the high bidder can take, in any order, one or both tracts for their high bid. "Buyers Choice" auctioning will continue until both tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option, and online bidding will be available.

Legal Description

See individual tracts for legal descriptions.

Directions

From Sully, Iowa: Head west on County Road F62 for 2.5 miles. Then turn right (north) onto Highway T22S and go for 2 miles. Turn left onto Lodge Street and then right onto Railroad Street. Then turn left onto 2nd Avenue and go for 0.3 miles. Next, turn left onto E 97th Street S for 0.4 miles. Tract 1 will be on the right (west) side of the road, and Tract 2 will be on the left (east) side of the road. Look for Peoples Company signage.

Sign On Property: Yes
Parcel Number: 1906200004, 1905100001
School District: Lynnville-Sully Community School District
General Area: Southeast of Newton, Iowa
Net Taxes: $5,280.00
CSR2: 81
Zoning: Agriculture

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Tracts

Tract 1 - E 72nd Street S, Reasnor, IA 503232

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Description

Tract 1 consists of 66.46 acres m/l with 64.06 FSA cropland acres. These acres are classified as Non-Highly Erodible Land (NHEL) and carry an average CSR2 soil rating of 89.4, exceeding the Jasper County, Iowa average CSR2 soil rating of 68.5. Prominent soil types include highly productive Mahaska silty clay loam, Otley silty clay loam, and Nira silty clay loam.

The farm is leased for the 2026 growing season, and the Buyer will receive the second half of the farmland rent payment. Contact the listing agent for more information.

This gently rolling farm lies between Reasnor, Iowa, and Killduff, Iowa, and southeast of Newton, Iowa. Access to the farm is from the east off E 72nd Street S and the south off S 80th Avenue E. Located in Section 6 of Elk Creek Township, Jasper County, Iowa.

Legal Description

Legal Description: Government Lot 1 in Section 6, Township 78 North, Range 18 West of the 5th P.M., Jasper County, Iowa, EXCEPT that part of said Government Lot 1 described as beginning on the East line and 812.12 feet North of the Southeast corner of said Lot 1; thence S90°00'00"W 347.12 feet; thence N0°00'00"E 337.78 feet; thence N90°00'00"E 347.12 feet to the East line of said Lot 1, thence S0°00'00" 337.78 feet along said East line to the point of beginning, as shown in plat recorded in Book 970, Page 10, in the office of the Recorder. Exact legal description to be taken from Abstract.

Details

Acres: 66.46 Acres M/L
Parcel Number: 1906200005
Net Taxes: $2,424.00
CSR2: 89.4

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Tract 2 - E 72nd Street S, Reasnor, IA 50232

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Description

Tract 2 consists of 70.26 acres m/l with 66.79 HEL FSA cropland acres. The average CSR2 soil rating for these acres is 73, with over 65% of the farm carrying an average CSR2 soil rating of 82 or higher. Prominent soil types include highly productive Otley silty clay loam and Mahaska silty clay loam. Additionally, there is a 1.60-acre grass waterway running east to west through the tract.

The farm is leased for the 2026 growing season, and the Buyer will receive the second half of the farmland rent payment. Contact the listing agent for more information.

Conservation practices are being actively applied with a well-established waterway allowing water to flow off the farm to the northeast corner towards a water retention area with two tile intakes that outlet directly into a small creek on the neighboring property to the east. Access is from the north off S 76th Avenue E and the west off E 72nd Street S. Located in Section 5 of Elk Creek Township, Jasper County, Iowa.

Legal Description

Government Lot 4 in Section 5, Township 78 North, Range 18 West of the 5th P.M., Jasper County, Iowa. Exact legal description to be taken from Abstract.

Details

Acres: 70.26 Acres M/L
Parcel Number: 1905100001
Net Taxes: $2,452.00
CSR2: 73

Directions

From Sully, Iowa: Head west on County Road F62 for 2.5 miles. Then turn right (north) onto Highway T22S and go for 2 miles. Turn left onto Lodge Street and then right onto Railroad Street. Then turn left onto 2nd Avenue and go for 0.3 miles. Next, turn left onto E 97th Street S for 0.4 miles. Tract 2 will be on the left (east) side of the road. Look for Peoples Company signage.

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Auction Details & Terms

Auction Location Map

Jasper County, Iowa Farmland Auction
136.72 Acres M/L
Offered as Two Tracts
Friday, June 19th, 2026 @ 10:00 AM CST

Seller: Klein Family Farm LLC

Auction Location:
Sully Community Center
318 6th Avenue
Sully, IA 50251

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.

Auction Method: The tracts will be sold via Public Auction on Friday, June 19th, 2026, at 10:00 AM at the Sully Community Center in Sully, Iowa. The portfolio will be offered as two individual tracts using 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 will continue until all farmland tracts have been purchased and removed from the auction. The tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number 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.

Agency: 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 Jasper 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 Jasper 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 Tuesday, August 4th, 2026. The balance of the purchase price will be payable at closing in the form of cash, guaranteed checks, or wire transfers.

Possession: Possession of the land will be given At Closing, Subject to Tenant's Rights.

Farm Lease: Both tracts are leased for the 2026 crop year. Buyer(s) will receive the second half of the farmland rental payment. Contact the listing agent for more details.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit the required earnest money payment into the Peoples Company Trust Account. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing.

Financing: The purchaser’s obligation to purchase the Property is unconditional and is not contingent upon the Purchaser obtaining financing. Any financial arrangements are to have been made before 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 Seller. 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 will be 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 "Price Per Acre" amount. Peoples Company and its representatives are agents of the Seller. The winning bidder acknowledges 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. 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.

Seller reserves the right to accept or reject any and all bids.