Wayne County, IA
183.36 Acres M/L

CR-S40, 160th St, & Fairgrounds Rd. |
Corydon, IA 50060 |
Listing #17342

Pending

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Property Info

Description

Wayne County, Iowa Farmland Auction - Mark your calendars for March 28th, 2024, at 10:00 AM CST! Peoples Company is pleased to represent Grow Pella Holdings LLC and the Paul Vos Family in the sale of 183.36 acres m/l located in Wayne County, Iowa. This land offering consists of three highly productive tillable farms located near Corydon, Iowa. The portfolio will be offered in three tracts via the Buyer's Choice auction method at the Wayne County Fair Grounds in Corydon, IA.

Tract 1: 61.3 acres m/l with 60.11 FSA cropland acres, carrying a CSR2 value of 46.
Tract 2: 80.33 acres m/l with 73.72 FSA cropland acres, carrying a CSR2 value of 41.9.
Tract 3: 41.73 acres m/l with 36.09 FSA cropland acres, carrying a CSR2 value of 42.

The farmland will be offered as three individual tracts via the “Buyer’s Choice” auction method through a live, in-person auction and a virtual, live online auction option. Online bidding will be available as well. With the "Buyers Choice" auction method the high bidder can take, in any order, one, two, or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all three tracts have been purchased and removed from the auction. The tracts will not be offered in their entirety or any combination after the auction.

Directions

Tract 1: From the intersection of S. Lafayette Street and Highway 2 in Corydon, IA head east on Highway 2. In 2.5 miles head north onto 160th Street. After 1 mile Tract 1 will be located on the east side of 160th Street. Watch for Peoples Company auction signs.

Tract 2: From the intersection of S. Lafayette Street and Highway 2 in Corydon, IA head east on Highway 2. In 2.5 miles head south onto County Highway - S40. After 1.25 miles Tract 2 will be located on the west side of County Highway S40. Watch for Peoples Company auction signs.

Tract 3: From the intersection of Highway 14 and Newton Road, north of Corydon, IA head west on Newton Road. In half a mile turn south onto Fairgrounds Road. After roughly 3/10ths of a mile straight the farm will be on the right-hand side. Watch for Peoples Company auction signs.

Sign On Property: Yes
MLS Number: 689424
School District: Wayne Community School District
General Area: Coyrdon, IA
Online Bidding: Yes
Auction Date: Mar 28, 2024
Possession: At Closing
Terms: Cash, Conventional

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Auction Details

Wayne County Land Auction
183.03 Acres M/L
Offered in Three Tracts
Thursday, March 28th, 2024 at 10:00 AM

Auction Location:
Wayne County Fair Event Center
800 2nd Avenue
Corydon, Iowa 50060

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: All tracts will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, any or all tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all three tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction.

Tract 1: 61.3 Acres M/L
Tract 2: 80.33 Acres M/L
Tract 3: 41.73 Acres M/L

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.

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.

Farm Program Information: Farm Program Information is provided by the Wayne 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 Wayne 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 Peoples Company’s Trust Account.

Closing: Closing will occur on or before Tuesday, May 14th, 2024. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.

Possession: Possession of the land will be given at Closing, Subject to the Tenants Rights.

Farm Lease: The farm is leased for the 2024 cropping season

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

Surveys: No surveying or staking will be provided by the Seller.

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, 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. 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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Tract 1 - 160th St, Corydon, IA 50060

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Description

This 61.3-acre tract is over 98% tillable and is located just 2 and 1/2 miles northeast of Corydon, Iowa. The farm has 60.11 FSA tillable acres carrying a CSR2 of 46 with primary soil types of Shelby clay loam, Clarinda silty clay loam, and Seymour silty clay loam. The farm has been highly improved with 25,898 feet of tile and 500 feet of terracing at an estimated cost of $26,568. The work is done on this farm and at current tile prices there is plenty of depreciation. The farm is rented for the 2024 cropping season. Buyer will receive a rent credit for $6,413 at closing and $6,412 on 12/01/2024.

Rural Water is provided by Rathbun Rural Water and is located on the west side of 160th St. This line is 3". There is no rural water running east or west on Newton Rd. Electric is along 160th St and is provided by Chariton Valley Electric COOP.

Legal Description

The W1/2 of the SW 1/4 of Section 15, Township 69N, Range 21 West of the 5th P.M. in Wayne County, IA (Except commencing at the SW Corner of the SW 1/4 of the SW 1/4 of said Section 15, thence North 300 feet to the point of Beginning; thence East 673 feet; thence North 1,080 feet' thence West 673 feet; thence South 1,080 to the point of Beginning.) Exact legal description to be taken from Abstract.

Details

Acres: 61.30 Acres M/L
Parcel Number: 070K15300005, 070K15300001
Net Taxes: $1,018.00
CSR2: 46.00

Directions

Tract 2 - County Road - S40, Corydon, IA 50060

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Description

This 80.33-acre tract is over 91% tillable and is located just a little over 3.5 miles southeast of Corydon, Iowa on highway S40. The farm has 73.72 FSA tillable acres carrying a CSR2 of 41.9 with primary soil types of Adair Clay Loam, Seymour Silty Clay Loam, and Clarinda Silty Clay Loam. The farm has been highly improved with 24,345 feet of tile with an estimated cost of $23,400. The tiling and terrace work are done on this farm and at current tile prices there is plenty of depreciation that can be used. The farm is rented for the 2024 cropping season. Buyer will receive a rent credit for $7,650 at closing and another $7,650 on 12/01/2024.

Rural Water is available through Rathbun Rural Water and is located on the east side of CR-S40. This line is 2". Electric Service is along CR-S40 and provided by Chariton Valley Electric COOP.

Legal Description

The South 1/2 of Northeast 1/4 of Section 33, Township 69N, Range 21 West of the 5th P.M. in Wayne County, IA. Exact legal description to be taken from Abstract.

Details

Acres: 80.33 Acres M/L
Parcel Number: 070P33200004, 070P33200003
Net Taxes: $851.00
CSR2: 41.90

Directions

Tract 2: From the intersection of S. Lafayette Street and Highway 2 in Corydon, IA head east on Highway 2. In 2.5 miles head south onto County Highway - S40. After 1.25 miles Tract 2 will be located on the west side of County Highway S40. Watch for Peoples Company auction signs.

Tract 3 - Fairgrounds Road, Corydon, IA 50060

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Description

This 41.73-acre tract is located just south of the fairgrounds in Corydon Iowa. It would be the perfect site for either commercial or residential development. The farm has 36.09 FSA tillable acres carrying a CSR2 of 42 with primary soil types of Lamoni Silty Clay Loam, Seymour Silty Clay Loam, and Clarinda Silty Clay Loam. There are additional acres that could be put into production with a little clearing work on the northern and southern borders of the farm. The farm is rented for the 2024 cropping season. The buyer will receive a rent credit for $7,380 at closing.

The 8-inch City Water Main is at the corner of W English St. and Fairgrounds Rd. Alliant Energy has 3-phase electric at this corner as well.

Legal Description

All that part of the E 1/2 of the NW 1/4 of the SE 1/4 of Section 24, Township 69N, Range 21 West of the 5th P.M. in Wayne County, Iowa, Lying North of the Chicago, Rock Island & Pacific Railroad right of way. Parcel "A" in the S 1/2 of the NE 1/4 of Section 24, Township 69N, Range 21, West of the 5th P.M. in Wayne County, IA. Exact legal description to be taken from Abstract.

Details

Acres: 41.73 Acres M/L
Parcel Number: 060M24200005, 060M24200004, 060M24400003
Net Taxes: $423.00
CSR2: 42.00

Directions

Tract 3: From the intersection of Highway 14 and Newton Road, north of Corydon, IA head west on Newton Road. In half a mile turn south onto Fairgrounds Road. After roughly 3/10ths of a mile straight the farm will be on the right-hand side. Watch for Peoples Company auction signs.