2275 120th Street, Lu Verne, IA 50560 - Kossuth County

This is an excellent opportunity to secure a unique Inside 100 farm! An Inside 100 means that the farm only has a road on one short side, and it is a total of 100 acres in size (98.51 taxable acres). The east half of the farm even has rows that are of a mile long making it very efficient to farm! This parcel consists of prime farmland in the heart of Iowa's corn and soybean production area in north central Iowa just northeast of Lu Verne. Corn produced on this farmland can be hauled just a few short miles to the NEW Cooperative location in Lu Verne, or take the hard-surface road a few more miles in the other direction to the ethanol facility in Goldfield where it can be sold for a premium price. Other local grain delivery points and agricultural supply retailers are nearby to receive grain efficiently and provide quick access to agricultural equipment and crop supplies.

Aerial imagery shows evidence of thousands of feet of drainage tile installed in the farm. Additional drainage capacity is available via the 38 tile main located just east of the farm in Hancock Kossuth Humboldt Joint Drainage District 93-131-100. The farm lease is open for 2025 so it can start to grow crops and income for the new owner in the very next growing season. It would make an excellent addition for an existing farming operation, or it would be a smart investment for a buyer to add to a diversified portfolio. This is a unique opportunity to purchase an efficient-to-farm Inside 100 in the heart of Iowa's corn and soybean growing area!

Farm Information:

FSA Farm/Tract Number 1853/3038

Total Gross Acres 100.00

Net Taxable Acres 98.51

Cropland Acres from FSA 94.19

Annual Real Estate Taxes 2,874.00

Corn Suitability Rating 2 (CSR2) 82.1

No Highly Erodible Land

No Conservation Reserve Program (CRP) Acres

General Description: This farmland is comprised of 98.51 net taxable acres, and it currently raises corn and soybeans.

Driving Directions: Go 3.5 miles east of Lu Verne on County Road C12 (100th Street), then go 2 miles north on 230th Avenue to the southeast corner of the farm. The south border of the farm is 120th Street.

Legal Description: E1/2 SE1/4, and E1/2 SE1/4 NE1/4, Section 22-T94N-R27W of the 5th PM, Lu Verne Township, Kossuth County, Iowa. Exact legal description will come from the abstract of title.

Rental Status: The current farm lease is terminated effective March 1, 2025. Landlords possession will be provided to the buyer at closing.

Method of Sale: Live and online auction on Thursday, September 12th, 2024, at 3:00 PM at the Lu Verne Community Center, 8 Dewitt Street, Lu Verne, Iowa, 50560. For online bidding, follow the link in the auction information and REGISTER AND REQUEST TO BID AT LEAST 48 HOURS PRIOR TO THE START TIME. The farm will be sold as a single unit of 98.51 acres multiplied by the price per acre. All prospective bidders must register and receive a bidder number in order to bid at the auction.

Terms of Sale: A standard purchase agreement and associated documents will be signed immediately following the auction. Buyer will immediately provide earnest money in the amount of ten percent (10%) of the total sale consideration. If the buyer is online, then buyer will be contacted via phone at the conclusion of the auction to arrange immediate signing of documents and payment of earnest money. The property is offered "As-Is, Where-Is" with no warranties or guarantees, expressed or implied, made by the seller or their agent. Sale is subject to all easements, covenants, and restrictions of record. Buyer financing must be secured before the auction. No buyer contingencies will be allowed. Buyer must agree to a cash sale with no contingencies. Balance due via wire transfer at closing with delivery of a deed and abstract showing merchantable title. Real estate taxes will be prorated to date of closing. Closing and possession will be on or before October 30th, 2024. Final sale is subject to sellers approval. Seller may reject any and all bids. Buyers must consult with the applicable professionals of their choice and complete all research and inspections prior to bidding. Announcements made day of sale supersede all prior written or verbal communication.

Software: Sunderman Farm Management Company, its agents, employees, and auctioneer assume no liability and shall not be held responsible for any technical issues or bidding problems. Proper functioning of hardware, software, and internet cannot be guaranteed. If issues arise, Sunderman Farm Management Company may modify the bidding process in any manner.