1404 Marion Street , Boone, IA 50036(Boone County)

The property is being sold by ONLINE Only auction. The bidding is currently LIVE and will remain open until Thursday, August 5th, 2021 at 3:00 PM (CST). The greenhouse complex may be inspected during open houses or by appointment: Open House dates are Wednesday, July 21th from 4:00PM-7:00PM & Sunday, July 25th from 1:00 P.M. to 4:00 P.M.

The Ludy greenhouses are gutter-connected, pre-galvanized, rust-resistant steel hoop buildings with a complete overhead copper pipe watering system with sprayers for all growing areas and alternating overhead production lines for flowering pots. Modine high efficiency II heaters equipped with Wadsworth Control Systems are installed throughout the complex to control the temperature and vents. The plant / production room is a humidity-controlled environment with growing lights to aid in marketing crops earlier and/or producing a double crop. This area of the greenhouse complex was previously used to grow and dry industrial hemp.

This greenhouse complex has an abundance of poured concrete for moving plants and equipment anywhere around the facility and the production bays are comprised of a mixture of soil and pea gravel to minimize muddy ground from the overhead sprinkler system. This system allows for controlled nutrient applications to plants in various stages of production throughout the greenhouse. Recently, some bays have been fallow, which may present an opportunity for future organic crop production. Rain water is collected and runs to an improved underground drainage tile. The drainage tile in Drainage District #137 was completely renovated in the 2019 and there will be a drainage assessment through 2039. The 8.70 FSA NHEL tillable acres (see attached FSA and Tillable Soils Map) on the east side of the property are currently planted into a pure alfalfa stand with high-producing soil types of Canisteo and Nicollet clay loams. These high-quality farmland acres may be used to create your own nursery, raise your own crops, or provide other income-producing options.

The property lies within the city limits of Boone, Iowa and is currently zoned M-3 (Light Industrial). See attached "M-3 Permitted Uses" or contact listing agent/City of Boone for questions on a use of the property. Boone is fully served with all modern utilities and services. Utilities include city water provided by the city of Boone carrying approximately 80 pounds of pressure with a consistent pH balance, three-phase electric and natural gas provided by Alliant Energy, and 2" water mains inside the greenhouse to supply the capacity for watering plants. The buildings are serviced by a private septic tank. There is an on-site 200-kW Cummins diesel GenSet backup generator with only 393 hours of running time that is able to supply three-phase power for the entire greenhouse complex in the event of an emergency power outage.

AUCTION DETAILS

Offering an industrial greenhouse complex owned by E Krieger Land LLC in Boone, Iowa through an ONLINE ONLY auction where all bidding must be done online through Peoples Company's bidding application. Bidding is currently LIVE and will remain open until Thursday, August 5th, 2020 at 3:00 PM Central Time Zone (CST) with closing taking place on or before Thursday, October 7th, 2021. A bid placed within 3 minutes of the scheduled close of the auction will extend bidding by 3 minutes until all the bidding is completed. If you plan to bid, please register 24 hours prior to close of auction. Under no circumstances shall Bidder have any kind of claim against Peoples Company or its affiliates if the Internet service fails to work correctly before or during the auction.

Co-Broker: Co-Broker must register client 24 hours prior to the Auction date by filling out our Broker Registration Form.

Earnest Money Payment: A 10% earnest money payment is required upon conclusion 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 about Thursday, October 7th, 2020. 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 property will be given At Closing.

Contract & Title: Immediately upon 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. Sale is not contingent upon Buyer financing.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction.

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 total price and not on a per acre basis. Seller reserves the right to accept or reject any and all bids. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction.

Disclaimer: All property boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall property characteristics 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.