Madison County, IA
160.00 Acres M/L

120th Street |
Van Meter, IA 50261 |
Listing #17468

Upcoming Auction

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Property Info

Description

Madison County, Iowa Farmland Auction - Mark your calendar for Friday, May 24th, 2024, at 10:00 AM CST! Peoples Company is pleased to be offering 160 acres m/l of highly tillable farmland in Madison County, Iowa.

Located in central Madison County, Iowa this highly tillable tract includes 147.59 FSA tillable acres carrying an average CSR2 of 71.2. This farm has high-quality soils including Sharpsburg Silty Clay Loam and Macksburg Silty Clay Loam. There are 120.91 acres currently in crop production. These acres carry an above-average CSR2 of 79.7. The remaining 26.68 FSA tillable acres are enrolled in CRP paying $4,486/year through 09/30/2026. The farm is leased for the 2024 farm season. The buyer will receive the full 2024 cash rent at time of closing plus the full 2024 CRP payment. Over the years there has been extensive terrace and tile work installed to improve the soil health on this farm. Over sixteen tile intakes have been identified across the farm (see attached Tile Map). This farm is conveniently located only one mile off of a hard-surfaced road with a short 20-minute drive to the Des Moines, Iowa Metro.

This farmland tract will be offered via a live Public Auction that will take place at 10:00 AM CST on Friday, May 24th, 2024, at the Madison County Fairgrounds Building located at 1146 W Summit St. in Winterset, Iowa. The land will be sold as one tract on a price-per-acre basis. This auction can also be viewed through the Peoples Company mobile bidding app and online bidding will be available.

Legal Description

The Northeast quarter (NE 1/4) of Section Eighteen (18), Township Seventy-seven (77) North, Range Twenty-seven (27) West of the 5th P.M. in Madison County, Iowa. Exact legal description to be taken from Abstract.

Directions

From Des Moines, Iowa: Travel west out of town on Interstate 80W for around 7.5 miles and turn left (south) at exit 110 onto Highway 169. Continue for approximately 13 miles and turn left (east) onto 120th Street for 1 mile to the farm located along the south side of the road. Look for the Peoples Company signs.

From Winterset, Iowa: Travel north out of town on Highway 169 for 9.5 miles and turn right (east) onto 120th Street. Continue 1 mile to the farm located along the south side of the road. Look for the Peoples Company signs.

Sign On Property: Yes
MLS Number: 691465
Parcel Number: 141021824000000; 141021822000000; 141021826000000; 141021828000000
School District: Adel-DeSoto-Minburn (ADM) Community School District
General Area: South of DeSoto, Iowa North of Winterset, Iowa
Gross Taxes: $4,298.00
Auction Date: May 24, 2024
CSR2: 71.20
Possession: At Closing, Subject to Tenant's Rights
Terms: Cash, Conventional, 1031 Exchange

Auction Details

Madison County Land Auction
160 Acres M/L
Offered as One Tract
Friday, May 24th, 2024 at 10:00 AM

Auction Location:
Madison County Fairgrounds Building

1146 W Summit St
Winterset, Iowa 50261

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 single tract will be sold on a price-per-acre basis through a traditional auction method.

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

Farm Program Information: Farm Program Information is provided by the Madison 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 Madison 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 Flander Rosien P.C. Trust Account Trust Account.

Closing: Closing will occur on or around Friday, July 12th, 2024, under the direction of Jane Rosien, Attorney At Law at the Flander Rosien Law Firm in Winterset, Iowa. The balance of the purchase price will be payable at closing in the form of a certified check or wire transfer. With respect to the timing of the Seller and successful Buyer in fulfilling the obligations set forth in the Real Estate Sale and Purchase Agreement, time is of the essence.

Possession: Possession of the farm will be given at Closing, Subject to Tenants Rights. The farm is leased for the 2024 Crop season. At time of closing the buyer will be given a credit for the full 2024 cash rent.

CRP Payment: The buyer will receive the full 2024 CRP Payment when the payment is released by the Madison County FSA towards the end of the year.

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Flander Rosien P.C. Trust Account
the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing after the conclusion of the auction. All financial arrangements are to have been made prior to bidding at the auction.

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. All current and any future fences and fence lines shall be governed by the Madison County and State of Iowa fence line rules and regulations.

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 price per acre basis. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made 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 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.

Location

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