Upcoming Auction

Lee County, IA
345.03 Acres M/L

190th Street & 130th Avenue
Donnellson, IA 52625

Price	Click to Bid Online
Listing	#18840

Land Agent

Matt Hoenig

Office: 515.961.0247
Mobile: 319.330.9735
Matt.Hoenig@PeoplesCompany.com

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Land Agent & Auctioneer

Riley Sieren

Office: 515.222.1347
Mobile: 319.591.0111
Riley@PeoplesCompany.com

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Property Info

Description

Peoples Company is proud to represent MGR Farms, LLC in the sale of 345.03 acres m/l of high-quality farmland located just west of Donnellson in Lee County, Iowa.

This LIVE Public Auction presents a rare opportunity to bid on three highly desirable Lee County farmland tracts, offered using the choice auction method to give buyers maximum flexibility to secure an individual parcel or assemble a premier multi-tract land portfolio. The auction will be hosted at the Lee County Fairgrounds (Learning Center Building) in Donnellson, Iowa, beginning at 10:00 AM on Friday, February 27th, with both live and online bidding available for your convenience. These farms are located in Sections 15 and 21 of Harrison Township in Lee County, Iowa, an established agricultural area known for its productive soils, strong local farming base, and history of stable long-term ownership.

The MGR Farms, LLC tracts combine quality soils with tracts overall CSR2 ratings ranging between 48.5 - 70.8, excellent access, and close proximity to multiple grain marketing outlets, making them attractive to both operators and investors. Multiple field entrances enhance farming efficiency and trucking logistics, and the layout of the tracts allows buyers to strategically expand their land base or diversify their portfolio. In addition to their strong income-producing characteristics, these farms also offer appealing recreational potential, delivering productivity, versatility, and long-term value in one outstanding land offering.

Farm Lease: Notice of Termination of the lease has been sent to the Tenants. The current lease will terminate on March 1, 2026 and will be open for the 2026 cropping season.

Tract 1: 40 Acres m/l containing 38.66 FSA Cropland acres m/l carrying a CSR2 of 70.8.

Tract 2: 149.25 Estimated Acres m/l containing 125.46 Estimated FSA Cropland acres m/l carrying a CSR2 of 50.6. - Survey In Progress.

Tract 3: 156.25 Estimated Acres m/l containing 107.78 FSA Cropland acres m/l carrying a CSR2 of 48.5. - Survey in Progress.

The three tracts will be offered individually on a price-per-acre basis using the “Buyer's Choice” auction method, where the high bidder can take, in any order, one or both tracts for their high bid. "Buyer's Choice" auctioning will continue until all tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. The Public Auction will be held on Friday, February 27th, 2026, at 10:00 AM CST at the Lee County Fair Grounds (Learning Center Building) in Donnellson, IA. The sale can also be viewed through a Virtual Online Auction option and online bidding will be available.

Legal Description

Legal descriptions found under each tract.

Directions

From Donnellson, IA head west on Highway 2. After roughly 4 miles turn right going north onto 140th Ave. In 2.5 miles cross Primrose Rd. heading north. In a half mile turn west onto 190th street. Tract 1 will be on the right hand side in 3/4 of a mile, while tracts 2 & 3 will be just a 1/4 mile further west on 190th street. Look for the Peoples Company Signs.

Sign On Property: Yes
Parcel Number: 011306153000030
School District: Central Lee Schools
General Area: Northwest of Donnellson
CSR2: 52.4
Lot Size: 345.03 Acres
Zoning: Ag

Additional Info

FSA information for all MGR Farms, LLC Tracts combined is as follows;
295.97 FSA Cropland Acres
Wheat: Base Acres of 3.8 with a PLC Yield of 58
Corn: Base Acres of 70.30 with a PLC Yield of 102
Soybeans: Base Acres of 74.90 with a PLC Yield of 39

Interactive Map

Use the Interactive Map to explore the property's regional location. Zoom in and out to see the property's surroundings and toggle various mapping layers on and off in the Map Layer Menu.

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FSA Information

Tracts

Tract 1 - 130th Avenue, Donnellson, IA 52625

Tract Photos

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Description

Tract 1 presents an excellent opportunity to acquire a high-quality farmland tract located in Section 15 of Harrison Township in Lee County, Iowa. The farm features a gentle southward slope with existing tile and terrace improvements that support efficient drainage and productive row-crop farming. The tract includes 38.66 FSA cropland acres, making it a nearly 97% tillable unit. Primary soil types consist of Grundy Silt Loam and Haig Silt Loam, both known for their stability and productivity.

With its strong soils, efficient layout, and manageable size, Tract 1 serves as an attractive option for a beginning farmer or as a practical addition to an existing farming operation or land investment portfolio.

Legal Description

SW 1/4 of the SW 1/4 located in Section 15 Township 68N Range 7 West of the 5th P.M. The exact legal description will be taken from the abstract.

Details

Acres: 40.00 Acres M/L
Parcel Number: 011306153000030
Gross Taxes: $1,480.00
CSR2: 70.9

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Tract 2 - 190th Street & 120th Avenue, Donnellson, IA 52625

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Description

Positioned in Section 21 of Harrison Township, Tract 2 comprises 149.41 acres (survey in progress) of productive Lee County, Iowa farmland with a strong balance of efficiency and accessibility. This tract is approximately 86% tillable and includes 128.63 estimated FSA cropland acres carrying an average CSR2 rating of 50.2. The primary soil types are Clarinda Silty Clay Loam and Grundy Silt Loam, with nearly 60 acres classified as NHEL. Multiple access points enhance ease of field entry and improve logistics for farming operations and grain transportation. When combined with Tract 3, Tract 2 creates an exceptional large contiguous tillable unit and a valuable addition to an existing farm operation or investment portfolio.

In addition to its agricultural strengths, Tract 2 offers meaningful recreational potential. Its open cropland layout, gently rolling terrain, and proximity to surrounding habitat corridors present opportunities to enhance wildlife use, making this tract suitable for both income production and outdoor enjoyment.

*FSA Base Acres & Cropland Acres will be subject to reconstitution by the Lee County, Iowa FSA & NRCS offices after closing.

Legal Description

149.41 Acres m/l located in the NW 1/4 of Section 21 Township 68N Range 7 West of the 5th P.M. The exact legal description will be taken from the survey.

Details

Acres: 149.41 Acres M/L
Parcel Number: 011306211000010, 011306211000020, 011306211000040, 011306211000030
Gross Taxes: $3,828.00
CSR2: 50.2

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Tract 3 - 190th Street & 129th Avenue, Donnellson, IA 52625

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Description

Tract 3 presents an exceptionally versatile opportunity, ideal for expanding a row-crop operation or developing a premier recreational retreat. The property features an attractive building site, along with year-round water from Little Sugar Creek and a scenic one-acre pond. This quality tract consists of 157.75 estimated acres (survey in progress) and includes 128.90 estimated FSA-cropland acres carrying a CSR2 rating of 48.2. Approximately 107.16 estimated acres are currently in row crop production with an average CSR2 rating of 48.2. The primary soil types are Pershing Silt Loam and Armstrong Loam. The farm features areas of existing tile and terracing, with Little Sugar Creek serving as an outlet for future drainage improvements. When combined with Tract 2, Tract 3 would create an expansive row-crop unit and a strong addition to an existing farming operation or investment portfolio.

For the avid outdoorsman or land steward, Tract 3 should not be overlooked. The property offers outstanding recreational potential with multiple access points, natural pinch points, thick bedding cover, and strong habitat for the abundant local whitetail population. With thoughtful collaboration through the Lee County, Iowa FSA office, portions of this tract could be further enhanced to create an exceptional wildlife and habitat property for whitetail deer, turkey, pheasant, and other upland species, while still maintaining its strong agricultural value.

*FSA Base Acres & Cropland Acres will be subject to reconstitution by the Lee County, Iowa FSA & NRCS offices after closing.

Legal Description

157.75 Acres m/l located in the NE 1/4 of Section 21 Township 68N Range 7 West of the 5th P.M. The exact legal description will be taken from the survey.

Details

Acres: 157.75 Acres M/L
Parcel Number: 011306212000010, 0113062212000040, 0113062120000050, 0113062120000020
Gross Taxes: $4,029.00
CSR2: 48.4

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Auction Details & Terms

Auction Location Map

Three Tracts - 345.03 Acres
Lee County, Iowa Land Auction
Friday, February 27th, 2026
10:00 AM CST

Seller: MGR Farms, LLC

Representing Trust Officer: Rosy Avalos Eichelberger - Community Bank & Trust

Auction Location:
Lee County Fairgrounds
(Learning Center Building)
1100 N Main Street
Donnellson, Iowa 52625

Auction Method: The three tracts will be offered individually on a price-per-acre basis using the “Buyer's Choice” auction method, where the high bidder can take, in any order, one or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. The sale 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 to receive a bidder number to bid at the auction. 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.

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 Lee 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 Lee 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 a certified check or wire transfer. All funds will be held in the Peoples Company Trust Account.

Closing: Closing will occur on or before Friday, April 10th, 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 farm will be given at closing.

Farm Lease: The farm lease has been terminated and the farm will be 'open' for the 2026 crop season.

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

Financing: The buyer's obligation to purchase the Real Estate is unconditional and is not contingent upon the Buyer obtaining financing. All financial arrangements are to have been made before bidding at the auction. By the mere act of bidding, the bidder makes the representation and warrants that the bidder has the present ability to pay the bid price and fulfill the Contract.

Property Taxes: All real estate taxes will be prorated between the Seller and Buyer to the date of closing.

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.

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. Auction 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 Auction Company. Overall tract acres, tillable acres, etc., may vary from the 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 are to be taken from the Abstract.