Upcoming Auction

Monroe County, IA
303.74 Acres M/L

County Road S63 / 430th Lane
Melrose, IA 52569

Price	Click to Bid Online
Listing	#19297

Senior Land Agent

Andrew Zellmer, ALC

Office: 855.800.LAND
Mobile: 712.898.5913
AndrewZ@PeoplesCompany.com

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Senior Land Agent

Matt Adams

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

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Property Info

Description

Monroe County, Iowa Farmland Auction – Mark your calendars for Thursday, June 11th, 2026, at 10:00 AM CST! Peoples Company is pleased to represent the Merna J Rusk Estate in the sale of 303.74 acres m/l in Monroe County, Iowa. This property will be offered in two tracts, providing a unique opportunity to acquire a premier recreational hunting farm alongside a large, contiguous, highly productive tillable farm - all in one auction setting.

Tract 1: 112.43 acres m/l (to be surveyed) with an estimated 49.64 FSA cropland acres m/l carrying an average CSR2 soil rating of 45.6
Tract 2: 191.31 acres m/l (to be surveyed) with an estimated 181.80 FSA cropland acres m/l carrying an average CSR2 soil rating of 55.7

As a whole, the farm consists of 231.44 FSA cropland acres with 213.30 acres currently in row crop production. Tract 1 offers an exceptional recreational opportunity, located in Iowa’s renowned Zone 5, widely recognized as one of the premier whitetail hunting regions in the country. With a strong mix of habitat, thick cover, food plot opportunities, and natural travel corridors, this tract presents outstanding potential for both seasoned hunters and outdoor enthusiasts. Tract 2 provides a rare chance to acquire a large, contiguous block of high-quality tillable farmland in an area where such opportunities are increasingly limited. Whether expanding an existing operation or securing a long-term investment, this tract offers both productivity and scale. Together, these tracts deliver outstanding versatility - appealing to investors, operators, and recreational buyers alike - allowing for strategic acquisition of one or both assets.

Farm Lease:
The farms are leased for the 2026 farming season, and an early lease termination has been agreed upon with the current farm lease terminating on Thursday, December 31st, 2026, or upon removal of all crops from the property, whichever occurs first. The total cash rent for both farms combined is $58,300 and the Sellers will retain the first half rental payment of $29,150. The Buyer(s) will be credited the second half rental payment at Closing. Total farm lease cash rent payments are laid out below.

Tract 1: 40.00 total acres leased at $265/acre | Tract 1 yearly cash rent payment of $10,600 | Buyer will receive second half rent payment of $5,300 in the form of a credit at Closing.
Tract 2: 180.00 total acres leased at $265/acre | Tract 2 yearly cash rent payment of $47,700 | Buyer will receive second half rent payment of $23,850 in the form of a credit at Closing.

The two 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 Thursday, June 11th, 2026, at 10:00 AM CST at the Melrose Community Center, 101 Kells Ave, Melrose, IA 52569. The sale can also be viewed through a Virtual Online Auction option with online bidding available.

Legal Description

Tracts 1 & 2 Combined Legal: The South fractional Half of the Northwest Quarter of Section 19, Township 71 North, Range 19 West of the 5th P.M. The North Half of the Northwest Quarter and the Northwest Quarter of the Northeast Quarter of Section Nineteen and the South Half of the Southwest Quarter and the Southwest Quarter of the Southeast Quarter of Section Eighteen, and beginning 40 rods West from the center of the Southeast Quarter of Section 18, Township 71, Range 19, running thence East 1 rod, thence North 14 rods more or less to a certain spring, thence West 2 rods, thence Southeasterly 14 rods to place of beginning, being a part of the Northwest Quarter of the Southeast Quarter of said Section 18, all in Township Seventy-one North, Range Nineteen West of the 5th P.M., Monroe County, Iowa. Exact legal to be taken from the abstract.

Directions

From Chariton, Iowa: Travel east on US Highway 34 for 10 miles until reaching 500th Avenue/County Line Road. Turn right (south) onto 500th Avenue/County Line Road and travel south for 1.5 miles until reaching Bluegrass Road. Turn right (west) onto Bluegrass Road and travel west/southwest for 1.25 miles until reaching 332nd Avenue. Turn left (south) onto 332nd Avenue and travel south for 1 mile until reaching 440th Street. Turn left (east) onto 440th Street and travel east for 0.75 miles until reaching County Road S63. Turn right (south) onto County Road S63 and travel south for 1 mile. The farm will be located on the east side of County Road S63. Look for the Peoples Company signage.

From Albia, Iowa: Travel west on US Highway 34 for 15.3 miles until reaching 500th Avenue/County Line Road. Turn left (south) onto 500th Avenue/County Line Road and travel south for 1.5 miles until reaching Bluegrass Road. Turn right (west) onto Bluegrass Road and travel west/southwest for 1.25 miles until reaching 332nd Avenue. Turn left (south) onto 332nd Avenue and travel south for 1 mile until reaching 440th Street. Turn left (east) onto 440th Street and travel east for 0.75 miles until reaching County Road S63. Turn right (south) onto County Road S63 and travel south for 1 mile. The farm will be located on the east side of County Road S63. Look for the Peoples Company signage.

Sign On Property: Yes
MLS Number: 740194
Parcel Number: 180618011000000, 180618012000000, 180618013000000, 180619007000000, 180619006000000, 180619005000000, 180619008000000, 180619009000000, 180618014000000
School District: Albia Community Schools
General Area: Southwest of Melrose, Iowa
Net Taxes: $5,000.00
Zoning: Ag

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Tracts

Tract 1 - County Road S63 / 430th Lane, Melrose, IA 52569

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Description

Tract 1 is located in Iowa’s highly sought-after “Zone 5”, along the Monroe County / Lucas County line, an area widely recognized as one of the premier trophy whitetail regions in the entire country. This 112.43-acre m/l tract is built to hunt. A series of rolling tillable ridges cascade into deep, timbered draws, naturally creating the kind of pinch points, funnels, and secluded bedding areas that consistently hold and move mature bucks during daylight hours. The layout offers the exact ingredients serious hunters look for with cover, food, and topography all working together.

The farm offers multiple access points from the west and south, and options to create access from the north, allowing entry and exit routes for multiple wind directions or hunting setups. The 49.64 estimated FSA cropland acres provide both income and opportunity. The new owner can continue leasing for annual return or take control and convert key areas into destination food plots. The farm lays out perfectly for staging plots, kill plots, and late-season food sources, positioned to pull deer into predictable patterns. With strategic stand and blind placement, this is a farm that can be hunted effectively from early October through late season. Abundant deer and turkey sign already exists on the property and with a focused approach to habitat and food plot improvements, this property has the potential to quickly evolve into a true top-tier hunting farm.

A 6-acre clearing in the northwest corner offers established access and an ideal setup for a cabin or camper site, giving you a private basecamp right on the farm. Spend your mornings in the stand and your evenings around a fire without ever leaving the property. Located just 2 miles northeast of Lake Rathbun, this tract also benefits from proximity to one of Iowa’s top outdoor destinations, adding fishing, boating, and year-round recreational appeal.

Tract 1 Farm Lease:

The farm is leased for the 2026 farming season, and an early lease termination has been agreed upon with the current farm lease terminating on Thursday, December 31st, 2026, or upon removal of all crops from the property, whichever occurs first. Tract 1 has 40 total acres leased. The yearly total cash rent for Tract 1 is $10,600 and the Sellers will retain the first half rental payment of $5,300. The second half rental payment for Tract 1 is $5,300 and will be appear as a credit to the Buyer at Closing.

Whether you’re seeking a premier hunting farm with income-producing acres, or a peaceful retreat to enjoy the outdoors, this Monroe County farm has much to offer.

Legal Description

To be taken from the Abstract.

Details

Acres: 112.43 Acres M/L
Parcel Number: 180618011000000, Portion of 180618012000000, Portion of 180618013000000
Net Taxes: $1,846.00
CSR2: 45.6

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Tract 2 - County Road S63 / 430th Lane, Melrose, IA 52569

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Description

Tract 2 presents as 191.31 acres m/l of productive Monroe County farmland in an area where large, contiguous tracts of tillable ground are a rarity. This gently rolling farm offers 181.80 estimated FSA cropland acres classified as a combination of NHEL (Non-Highly Erodible Land) and HEL (Highly Erodible Land) and features dependable Grundy silty clay loam soils with an average CSR2 rating of 55.7 for consistent row crop yields and cash rent potential. Fingered, timber lined draws through the farm's south half adds recreational appeal. Access is from the west off of County Road S63 / 500th Avenue and from the south from 255th Street. Located southwest of Melrose, Iowa, in Sections 18 & 19 of Jackson Township in Monroe County, Iowa.

Tract 2 Farm Lease:

The farm is leased for the 2026 farming season, and an early lease termination has been agreed upon with the current farm lease terminating on Thursday, December 31st, 2026, or upon removal of all crops from the property, whichever occurs first. Tract 2 has 180 total acres leased. The yearly total cash rent for Tract 2 is $47,700 and the Sellers will retain the first half rental payment of $23,850. The second half rental payment for Tract 2 is $23,850 and will be appear as a credit to the Buyer at Closing.

Legal Description

To be taken from the abstract.

Details

Acres: 191.31 Acres M/L
Parcel Number: 180619008000000, 180619009000000, 180619005000000, Portion of 180619007000000, Portion of 180619006000000
Net Taxes: $3,150.00
CSR2: 55.7

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Auction Details & Terms

Auction Location Map

The Merna J Rusk Estate
303.74 gross acres m/l
231.44 FSA Cropland Acres
Offered in Two Tracts
Thursday, June 11th, 2026, at 10:00 AM CST

Seller: The Merna J Rusk Estate

Auction Location:
Melrose Community Building
101 Kells Avenue
Melrose, Iowa 52569

Tract 1: 112.43 gross acres m/l with an estimated 49.64 FSA cropland acres m/l carrying an average CSR2 soil rating of 45.6
Tract 2: 191.31 gross acres m/l with an estimated 181.80 FSA cropland acres m/l carrying an average CSR2 soil rating of 55.7

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 Thursday, June 11th, 2026, at 10:00 AM at the Melrose Community Center in Melrose, Iowa. All 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 "Buyer's Choice" auction will continue until all 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 Monroe 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 Monroe 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, July 29th, 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: The farm is leased for the 2026 growing season and Buyer(s) will receive the second half of the rent payment due At Closing.

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.