Online Only Auction
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Price Realized:
520.00 USD
Shipping Not Available
Date(s)
12/11/2023 - 12/27/2023
Bidding Notice:

BIDDER REGISTRATION: All prospective bidders must register online with the auction company and receive a bidder’s number in order to bid on this rental auction. ONLINE BIDDING: Please visit our website to register for online bidding. Mid Iowa Real Estate, Auctions, & Appraisals cannot be held liable for any technical difficulties relating to the server, software, internet, or other online ... Show More

Auction Notice:

BID METHOD: This tract will be offered as an 178.1 rentable acres m/l with the high bid taken times 178.1 acres. The base bid on this property will be $300/acre, with the minimum bid increase being $20/acre.


Information
Lot # 1
Group - Category Real Estate - Ag / Farm Land
Lead Story County Iowa, Cash Rent Lease Auction, 178.1A
Description
DESCRIPTION: 178.1 cropland acres m/l near Zearing to be offered online only for rent for a 2-year period of time with bidding starting December 11, 2023, at 10:00 AM and ending on December 27, 2023, at 10:00 AM. This property consists of 178.1 cropland acres m/l that will be rented along with 35,500 bushel of on-farm grain storage. This property has an average CSR2 of 88.2, with the Story County average CSR2 being 81.1. DIRECTIONS: From Zearing, Iowa, go south on State Highway #65 to 160th Street, then go east on 160th Street 2 miles, or from Colo, Iowa, go north on State Highway #65 to 160th Street, then go east on 160th Street to 720th Avenue. The subject property is located in the SE corner of the intersection of 720th Avenue and 160th Street. LEGAL DESCRIPTION: (178.1 Acres M/L) The Northwest Fractional Quarter (NW Frl. 1/4), all in Section Two (2). Township Eighty-Four (84) North, Range Twenty-one (21); West of the 5th P.M., Story County, Iowa. Please refer to abstract for the exact legal description. (The legal description is for the entire farm, with the rental contract for 178.1 cropland acres m/l.) FARM PROGRAM INFORMATION: Cropland: 178.1 acres Corn Base: 137.5 acres PLC Yield: 151 bu. Bean Base: 40.6 acres PLC Yield: 51 bu.
Name Story County Iowa, Cash Rent Lease Auction, 178.1 Acres M/L
Auctioneer
Type Online-Only Auction
Date(s) 12/11/2023 - 12/27/2023
Auction Date/Time Info
Monday, December 11, 2023 at 10:00 AM BIDDING CLOSES Wednesday, December 27, 2023 at 10:00 AM
Checkout Date/Time Wednesday, December 27, 2023 after 10:00 AM
Location
Description
DESCRIPTION: 178.1 cropland acres m/l near Zearing to be offered online only for rent for a 2-year period of time with bidding starting December 11, 2023, at 10:00 AM and ending on December 27, 2023, at 10:00 AM. This property consists of 178.1 cropland acres m/l that will be rented along with 35,500 bushel of on-farm grain storage. This property has an average CSR2 of 88.2, with the Story County average CSR2 being 81.1. DIRECTIONS: From Zearing, Iowa, go south on State Highway #65 to 160th Street, then go east on 160th Street 2 miles, or from Colo, Iowa, go north on State Highway #65 to 160th Street, then go east on 160th Street to 720th Avenue. The subject property is located in the SE corner of the intersection of 720th Avenue and 160th Street. LEGAL DESCRIPTION: (178.1 Acres M/L) The Northwest Fractional Quarter (NW Frl. 1/4), all in Section Two (2). Township Eighty-Four (84) North, Range Twenty-one (21); West of the 5th P.M., Story County, Iowa. Please refer to abstract for the exact legal description. (The legal description is for the entire farm, with the rental contract for 178.1 cropland acres m/l.) FARM PROGRAM INFORMATION: Cropland: 178.1 acres Corn Base: 137.5 acres PLC Yield: 151 bu. Bean Base: 40.6 acres PLC Yield: 51 bu.
FARM LEASE: The contracted lease for this farm will be for a 2-year period of time. Once the high bidder is approved by the owner, the owner and the high bidder will enter into a rental contract with 20% of the 2024 lease payment due on December 31, 2023, when the lease is signed, with the remainder of the lease payment due on March 1, 2024. The lease payment for 2025 or the second year of the contract will be due and payable in full on March 1, 2025. The payment for the grain storage, $.12/bushel or $4,260/year, will be paid on November 1 of each of the two years of the contract. Please note that the grain bins are not available until after July 31, 2024, based on the lease for 2023. The wind turbine income is not a part of this lease. No corn stalks are to be removed from the property for the length of rental agreement. BID METHOD: This tract will be offered as an 178.1 rentable acres m/l with the high bid taken times 178.1 acres. The base bid on this property will be $300/acre, with the minimum bid increase being $20/acre. POSSESSION: Possession will be granted on or about March 1, 2024. BIDDER REGISTRATION: All prospective bidders must register online with the auction company and receive a bidder’s number in order to bid on this rental auction. ONLINE BIDDING: Please visit our website to register for online bidding. Mid Iowa Real Estate, Auctions, & Appraisals cannot be held liable for any technical difficulties relating to the server, software, internet, or other online auction-related technologies. Bidders shall have no claims against the auction company or Sellers if their bids are not accepted. OWNER: Gardner Iowa Farms, LLC All potential bidders are urged to perform their due diligence on the subject property prior to the online auction. All map boundaries are approximate, and photographs used may or may not depict the actual property. Total tract acres, tillable acres, FSA acres, etc. are approximate and may be subject to change. All bids will be on a per acre basis. Seller reserves the right to accept or reject any and all bids. Mid Iowa Real Estate, Auctions, & Appraisals and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the online auction sales transaction. Any announcements made auction day by the Auctioneer will take precedence over any previous material or oral statements. Bidding increments will be no lower than $20/acre. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 980.00 20.00 USD
980.01 - 9,750.00 250.00 USD
9,750.01 - 97,500.00 2,500.00 USD
97,500.01 - 9,999,999.99 10,000.00 USD
Currency USD
Payment Terms
FARM LEASE: The contracted lease for this farm will be for a 2-year period of time. Once the high bidder is approved by the owner, the owner and the high bidder will enter into a rental contract with 20% of the 2024 lease payment due on December 31, 2023, when the lease is signed, with the remainder of the lease payment due on March 1, 2024. The lease payment for 2025 or the second year of the contract will be due and payable in full on March 1, 2025. The payment for the grain storage, $.12/bushel or $4,260/year, will be paid on November 1 of each of the two years of the contract. Please note that the grain bins are not available until after July 31, 2024, based on the lease for 2023.
POSSESSION: Possession will be granted on or about March 1, 2024.
Notice: Financing terms available may vary depending on applicant and/or guarantor credit profile(s) and additional approval conditions. Assets aged 10-15 years or more may require increased finance charges. Financing approval may require pledge of collateral as security. Applicant credit profile including FICO is used for credit review. Commercial financing provided or arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873. Consumer financing arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873 and state licenses listed at the this link. Consumer financing not available for consumers residing in Alaska, Louisiana, Nevada, Ohio, Vermont, Hawaii, or Wisconsin. Additional state restrictions may apply. Equal opportunity lender.