Monday, April 5, 2021 at 1:00 P.M.
202.38 Surveyed Acres± • 4 Tracts
SOLD! TRACT 1 – $8,800 PER ACRE
SOLD! TRACT 2 – $129,000 LUMP SUM
SOLD! TRACT 3 – $316,000 LUMP SUM
SOLD! TRACT 4 – $101,000 LUMP SUM
TOTAL – $2,107,032.00
Auction to be conducted as a virtual, online only auction. No on-site bidding permitted.
If you need assistance with internet bidding, please contact our office at (844) 847-2161. Thank you.
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Open House: Thurs., March 25, 2021 3:00 P.M. – 4:00 P.M.
Auctioneers Note: Sullivan Auctioneers is honored to be able to conduct this large land & equipment estate auction for the late Bob & Myrna Larkey. The Larkeys were well known in the northeast Iowa area as business owners, cattle producers and farmers. This auction features one of the nicest farms that will sell in northeast Iowa in 2021. The equipment portion of the auction features a diverse selection for the row crop farmer and cattle producer. This is an auction that you will not want to miss! We look forward to your participation.
The Larkey Trust Farms are located in Section 9, Maquoketa Township & Section 26, South Fork Township, Jackson County, IA. Tracts 1-3 are located 2 miles northeast of Maquoketa, IA. on St. Hwy. 62. Tract 4 is located 1 mile southwest of Maquoketa, IA on St. Hwy. 64.
(Be watching for presale directional signs)
Tract 1 • 177.39 Surveyed Acres
- FSA information indicates 172.01 acres tillable, with the balance in waterways.
- Soils include Racine, Orwood & Dickinson
- CSR2 is 47.7
- Access is on the north by Rockdale Rd.
- Estimated Real Estate Taxes: $4,547.00
Tract 2 • 5.22 Surveyed Acres
8050 St. Hwy. 62, Maquoketa, IA 52060
- This desirable tract is improved with a 43’ x 56’ open front livestock barn that has some concrete and automatic waterers. Other improvements include a 22’ x 48’ loafing shed, a 24’ x 36’ grainery and a 5,000 bu. grain bin.
- There is an attractive home building site on the parcel and it has hard surface road frontage.
- Access is on the southeast by St. Hwy 62
- Estimated Real Estate Taxes: $150.00
- Please Note: All loose gates, cattle working chute and wood & steel feed bunks will be reserved for the sellers. Cattle self-feeder will be conveyed with the real estate.
Tract 3 • 6.44 Surveyed Acres
7580 St Hwy. 62, Maquoketa, IA 52060
- This parcel features a large 2 story country home that offers 5 bedrooms and 1½ baths. The dwelling has a newer GFA furnace with central air and vinyl siding. The property is highly improved with a 46’ x 80’ steel utility building, a 20’ x 20’ commodity building, a 70’ x 150’ steel storage building recently used for hay storage and a 34’ x 40’ steel storage building. There is a small livestock feeding facility on the property that includes 216’ of concrete fence line feed bunks and there are (2) grain bins totaling 11,000 bu. of grain storage.
- Access is on the southeast by St. Hwy. 62
- Estimated Real Estate Taxes: $1,790.00
- Please Note: All loose gates, cattle working chute and wood feed bunks will be reserved for the sellers. Cattle self-feeder will be conveyed with the real estate.
Tract 4 • 13.33 Deeded Acres
- This tract is in 100% improved pastureland and offers a small livestock gathering corral that is located in the southwest portion of the parcel.
- This property features several new home building sites and has hard surface road frontage off of St. Hwy 64. If you’re in the market for a place to build your dream home or a small area for livestock we urge you to take a look at this tract!
- Access is on the northwest by St. Hwy. 64
- Estimated Real Estate Taxes: $252.00
Method & Terms
The Larkey Farm will be sold in four (4) individual tracts based on a survey that has recently been completed. The said surveyed acres will be used to constitute the final settlement price. Tract 1 will be sold first on a price per acre basis. Tracts 2, 3 & 4 will be sold in numerical order for a “lump sum” total dollar amount. The farm will NOT be offered in its entirety or in any combinations. Bidding is NOT contingent upon financing.
Ten (10%) percent of the bid price to be due on the day of sale with the balance due in approximately 30 days, on or before Wednesday, May 5, 2021 upon delivery of a merchantable abstract and deed. Immediately following the auction, the successful bidder(s) shall enter into a written agreement with the seller. The real estate taxes will be prorated to the date of closing. Possession on Tract 1 will be given at the time of closing subject to a farm lease for the 2021 crop year. Buyer(s) will receive 100% of the cash rent as a credit at closing. Full possession will be given at the time of closing on Tracts 2, 3 & 4. Subject to the Iowa Septic System Law the septic system on Tract 3 is exempt from any system testing or upgrading. Any future septic system testing or upgrading will be at the buyer(s) expense.
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”.
The Robert F. Larkey Trust
The Myrna J. Larkey Trust
Robin Krogman – Executor
Scarlet Dietz – Executor
3425 East Locust, Suite 201
Davenport, IA 52803
Phone: (563) 326-4060
Jim Huff (319) 931-9292
John Probasco (641) 856-7355