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Louisa County, IA
333.74 Acres M/L

County Road X61
Muscatine, IA 52761

Price	Click to Bid Online
Listing	#17882

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

Louisa County, Iowa Farmland Auction – Mark your calendars for Wednesday, December 4th, 2024! Peoples Company is pleased to represent R & L Farms Partnership, LP in the sale of 333.74 acres M/L in Louisa County, Iowa. The farm consists of three tracts of productive tillable farmland located between Muscatine and Wapello, Iowa in Sections 29/30/31/32 of Township 75 North and Section 6 in Township 74 North, all in Port Louisa Township, Louisa County, IA.

Tract 1: 122.67 acres m/l with an estimated 116.77 FSA cropland acres carrying an average CSR2 soil rating of 68.1

Tract 2: 79.39 acres m/l with an estimated 64.89 FSA cropland acres carrying an average CSR2 soil rating of 56.6

Tract 3: 131.68 acres m/l with an estimated 121.68 FSA cropland acres carrying an average CSR2 soil rating of 54.7 with irrigation pivots.

As a whole, the farms consist of 303.33 FSA cropland acres with prominent soil types consisting of Elrick Sand Loam, Coland Clay Loam, Zook Silty Clay, and Ambraw Loam. The tracts collectively boast an average CSR2 soil rating of 60.6. The FSA cropland acres are certified as NHEL (Non-Highly Erodible Land). These quality tracts would make great add-ons to an existing farming operation or a smart investment for the Buyer looking to diversify their portfolio. This is a rare opportunity to own a large quality portfolio of farmland tracts that are close in proximity. The location of these farms in northeast Louisa County offers easy access to multiple grain marketing options in the surrounding areas including grain processors and the Mississippi River grain market. These tracts also receive hog manure. See the attached manure management plan that is in place on these farms.

The three tracts will be offered on a price-per-acre basis using the “Buyer’s Choice” Auction Method, where the high bidder can take, in any order, any or all tracts for their high bid. The Public Auction will be held on Wednesday, December 4th, 2024, at 10:00 AM CST at the Fruitland Community Center located at 104 Sand Run Rd, Fruitland, IA 52749. The sale can also be viewed through a Virtual Online Auction option with online bidding available. Do not miss your chance at owning these farms.

The farm lease has been terminated and is open for the 2025 crop season.

Details

Manure Management Agreement: Tracts 1-3 benefit from a manure easement with TriOak Foods. The manure is generated from the hog buildings located in the center of Tract 1 and between Tracts 2 and 3 on County Road X61, Muscatine, currently owned by Big Buck Farms, LLC. Contact Listing Agents for more details.

Directions

From Muscatine, IA: At the intersection of Dick Drake Highway and County Road X61 in Muscatine, IA head south on County Road X61. After 9.25 miles you will arrive at the northeast corner of Tract 3. Look for the Peoples Company signs.

From Wapello, IA: Take Highway 61 north out of Wapello, IA. After 2.75 miles turn right heading east onto County Road G56. In 3 miles at the intersection, turn north onto County Road X61. Follow CR-X61 for 1.35 miles until you arrive at Tract 1. Continue another .75 miles and tracts 2-3 will be on both sides of the road. Look for the Peoples Company signs.

Sign On Property: Yes
School District: Louisa-Muscatine School District
General Area: South of Muscatine, IA
CSR2: 60.60
Lot Size: 333.74
Zoning: Ag

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Manure Application Agreement

Port Louisa S Plat Map

Port Louisa N Plat Map

Marketing Brochure

Tracts

Tract 1 - 0 County Road X61, Muscatine, IA 52761

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Description

Tract 1 consists of 122.67 acres m/l, with 116.77 FSA tillable acres carrying an average CSR2 rating of 68.1. This 92% tillable farm in Louisa County, IA, is predominantly composed of Ambraw Loam and Colo Silty Clay Loam soils. A wetland determination has confirmed that the NHEL "Non-Highly Erodible Land" acres are all prior converted cropland with no restrictions allowing for future drainage tile to be installed. This tract also benefits from hog manure application, please refer to the manure management agreement attachment.

This farmland tract is located in Section 6 of Port Louisa Township in Louisa County, Iowa.

Legal Description

122.67 Acres m/l located in Section 6 Township 74N Range 2 West of the 5th P.M. Exact legal description to be taken from Abstract.

Details

Acres: 122.67 Acres M/L
Parcel Number: 0906130000, 0906202000
Net Taxes: $5,574.00
CSR2: 68.10

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Tract 2 - 00 County Road X61, Muscatine, IA 52761

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Description

Tract 2 consists of 79.39 acres m/l, with 64.89 FSA tillable acres, carrying an average CSR2 rating of 58.1. This 82% tillable farm features primarily Zook Silty Clay and Coland Clay Loam soils. A wetland determination has been completed, confirming these tillable acres as previously converted cropland with no restrictions allowing a new owner to install future tile. The tract has gentle 0-2 percent slopes, and the tillable acres are classified as NHEL "Non-Highly Erodible Land". The tract also benefits from hog manure application. For additional information, please refer to the manure management agreement attachment.

This farmland tract is located in Sections 30 & 31 of Port Louisa Township, Louisa County, Iowa.

Legal Description

79.39 acres m/l West of County Road X61 in Sections 30 & 31 Township 75N Range 2 West of the 5th P.M. Exact legal description to be taken from Abstract.

Details

Acres: 79.39 Acres M/L
Parcel Number: 05312227000, 0530403000
Net Taxes: $3,454.00
CSR2: 58.10

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Tract 3 - 000 County Road X61, Muscatine, IA 52761

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Description

Tract 3 consists of 131.68 acres m/l, with 121.68 FSA tillable acres carrying an average CSR2 rating of 54.7. The tillable acres are classified as NHEL "Non-Highly Erodible Land", with the farm being nearly 92% tillable, featuring predominantly Elrick Sandy Loam and Coland Clay Loam soils. Four private-well irrigation pivots serve an estimated 82.11 tillable acres, providing the capacity to irrigate over an inch per week. This setup offers the opportunity for the new owner to achieve above-average crop yields annually. The pivots are currently manually operated but can be converted to automated controls if desired. They are managed by Landmark Irrigation in Muscatine, IA, with all wells installed by Latta Well & Pump. All irrigation pivots will transfer with the property sale. This tract also benefits from hog manure application, please refer to the manure management agreement attachment.

Pivot Details:

Pivot 1: Valley Pivot, a two-tower system with a stop slot setting; estimated at 410 feet, with its own well.
Pivot 2: Reinke Pivot, a three-tower system (requires shortening); estimated at 615 feet, with its own well.
Pivot 3: Reinke Pivot, a two-tower system (electrical system update recommended); estimated at 315 feet, with its own well.
Pivot 4: Reinke Pivot, a four-tower system, with stop barriers at property boundaries; estimated at 760 feet, shares a control panel with Pivot 3. Pivot 4 currently has stop barriers installed which are the property of the tenant. The tenant will remove these stop barriers before March 1, 2025.

*Louisa County Secondary Roads have approved two driveways entrances. The successful bidder for Tract 3 will have the option to install either both or one driveway at their expense. See the driveway map attachment for the location of each driveway.

For further details on these irrigation systems, please contact the listing agents. All property including the pivots & wells will be sold "As Is, Where Is." The buyer will be responsible for the cost of any improvement, replacement, or repairs.

Legal Description

131.68 Acres m/l along the east side of County Road X61 in Sections 29, 30, 31, 32 Township 75N Range 2 West of the 5th P.M. Exact legal description to be taken from Abstract.

Details

Acres: 131.68 Acres M/L
Parcel Number: 0530435000, 0529156000, 0532103000, 0531233000
Net Taxes: $6,128.00
CSR2: 54.80

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Auction Details & Terms

Auction Location Map

Louisa County Land Auction
333.74 Acres M/L (Offered in Three Tracts)
Wednesday, December 4th, 2024 at 10:00 AM

Tract 1: 122.67 acres m/l

Tract 2: 79.39 acres m/l

Tract 3: 131.68 acres m/l

Seller: R & L Farms Partnership, LP

Representing Trust Officer: Rosy Avalos Eichelberger - Community Bank & Trust
Representing Attorney: Eichelberger Law Office, PC

Auction Location:
Fruitland Iowa Community Center
104 Sand Run Rd
Fruitland, IA 52749

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction.

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 three tracts will be offered via Public Auction and will take place at 10:00 AM at the Fruitland Community Center in Fruitland, Iowa. The three 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, two, or any combination of 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.

Farm Program Information: Farm Program Information is provided by the Louisa 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 Louisa 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 Wednesday January 8th, 2025. 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, Subject to Tenant's Rights.

Farm Lease: The farm lease has been terminated and will be open for the 2025 crop season.

Showings: Please contact Agents before entering the property for inspection.

Improvements/Buildings/Personal Property: All improvements will be conveyed in their current "As is - Where is" condition. The new owner will be responsible for removing any personal property left on the premises at closing, with the exception of the farm tenant's grain and equipment.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract. The Seller will provide a current abstract at their expense. The 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 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. 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. 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.