Tuesday, January 31, 2017 at 10:00 A.M.
SOLD! TRACT 1 – $10,100.00 PER ACRE
SOLD! TRACT 2 – $8,050.00 PER ACRE
TOTAL – $1,486,240.50
Sale to be held at The Twin Lakes Recreation Center, 409 N Clark St, Winfield, IA 52659
163.79 Surveyed Acres • 2 Tracts
LOCATION & GENERAL INFORMATION
The Schenk Farm is located in Section 2 of Canaan Township, Henry County, Iowa. In Mt. Union, IA, at the intersection of Co. Blacktop X23 and H28, proceed 1 mile north to the farm. Mt. Union is 4 miles southeast of Winfield, Iowa or 8 miles northeast of Mt. Pleasant, Iowa.
Farmers & Investors… Mark your calendars now for this high quality Henry County, Iowa land auction. Land represents productive tillable farmland with CSR2’s in the 80’s! Tract 2 is improved with a Morton storage building and grain storage. Both tracts offer great access and are in close proximity to a major grain elevator located in Mt. Union, Iowa.
Highly Productive Tillable Farmland!
Tract 1 – 81.82 Surveyed Acres
- FSA figures should indicate approximately 79 acres tillable.
- Major soil types include Taintor & Mahaska.
- CSR2: 87.0!
- Access is along the north by 160th St.
Tract 2 – 81.97 Surveyed Acres
- FSA figures should indicate approximately 73.62 acres tillable, of which 2.2 acres are enrolled in CRP with an annual payment of $572.00 expiring in 2025 and .3 acres with an annual payment of $88.00 expiring in 2025.
- Major soil types include Otley & Mahaska.
- CSR2: 80.9!
- This tract has been improved with several drop inlet terraces as well as a Morton 48’ x 62’ machinery building, 12,000 bushel of grain storage and other older outbuildings.
- Access is along the north by 160th St. and the east by Cty. Rd. X23 (Racine Ave.).
METHOD & TERMS
The Schenk Farm will be sold on a price per acres basis based on a survey that has recently been completed. Said survey will be used to calculate the final settlement price. Tracts 1 & 2 will be offered through the marketing method of “Buyer’s Choice,” whereas the high bidder can purchase (in any order) either or both tracts for their high bid. “Buyer’s Choice” will continue until both tracts have been sold. The farm will NOT be offered in its entirety at the conclusion of the auction.
Ten percent (10%) of the final bid price will be paid on the day of sale with the balance due at the time of closing, on or before Wednesday, March 1, 2017, upon delivery of a merchantable abstract and deed. Immediately following the auction, the successful buyer(s) shall enter into a written agreement with the seller. Taxes will be prorated to the date of closing based on the last available tax statement. Possession will be given at the time of closing subject to a farm lease for the 2017 crop year. The new buyer(s) will receive 100% of the cash rent for the respective tracts. Contact the auction company for complete lease details.
All announcements sale day shall take precedence over any prior advertising either written or oral. The information in this brochure is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to the property. This real estate is being sold “as is”.
S, S & B Farm Partnership
Land known locally as the Ralph Schenk Farm
Randy Schenk, Dennis Schenk & Roberta Berdo – Owners
For Additional Information, Contact Sullivan Auctioneers’ Representatives: Jim Huff (319) 931-9292 or Jeff Hoyer (319) 759-4320
REPRESENTING & CLOSING ATTORNEY:
James W. Miller
Cray Law Firm, PLC
420 North Roosevelt Avenue, Suite 110
Burlington, IA 52601
Phone: (319) 752-4537