Winfield, IA 52659(Henry County)

Jeff Hoyer (319) 759-4320

OPEN HOUSE

Monday, August 21st 4:00 - 5:30 PM

GENERAL INFORMATION

240 Acres (subject to survey) 4 Tracts

Mark your calendars now for this upcoming late summer Louisa County land auction. The Jennings Farms offer highly productive cropland with CSR2's as high as 91! Farms also offer excellent shops/machine sheds with concrete floors, grain drying and storage facility, office building along with an older country home. These tracts would be a great addition to anyones row crop operation, someone needing additional machine or grain storage or looking to start a business in the country.

TRACT INFORMATION

Tract 1 80 Acres (subject to survey)

FSA figures indicate 79.50 cropland acres.

Major soil types are Mahaska and Otley.

CSR2 is 91.

Highly productive, 100% tillable tract of land.

Access is on the south off of G-62.

Tract 2 73 Acres (subject to survey)

FSA figures indicate approximately 70.08 cropland acres.

Major soil types are Mahaska, Nira and Colo-Ely.

CSR2 is 85.7.

Highly productive, 100% tillable tract of land.

Access is in the southeast corner off of U Avenue.

Tract 3 80 Acres

FSA figures indicate 71.13 cropland acres.

Major soil types are Hedrick, Givin, Gara and Mahaska.

CSR2 is 75.4.

Morton 45 x 80 machine shed with concrete floor.

(2) 24 grain bins having approximately 15,000 bushel of total storage.

Older 11/2 story home with 4 bedrooms and an attached one car garage.

Access is on the south off of 90th Street.

Tract 4 7 Acres (subject to survey) Shop, Machine Sheds, Office Building, Grain Facility

60 x 88 insulated shop/machine storage building with concrete floor and radiant heat.

50 x 76 machine shed with concrete floor.

32 x 54 machine shed with concrete floor.

24 x 56 office building with an attached two car garage, gas forced air heat and water.

(3) 36 grain bins with approximately 50,000 bushel of total storage, approximately 5,000 bushel hopper bottom wet holding bin and a M-C continuous flow dryer.

Approximately 1.5 acres of cropland.

An excellent location to add to your shop/storage space, have an office, add to your grain storage capacity or even build a new home.

Access is on the east off of U Avenue.

METHOD & TERMS

The Jennings Farms will be sold in (4) four individual tracts. Tract 1, 2 & 3 will sell on a price per acre basis, based upon a survey that is currently in progress. Surveyed acres will be used to constitute the final settlement price. Tracts 1, 2 & 3 will be sold through the marketing method of Buyers Choice whereas the high bidder can elect any or all tracts, in any combination for their high bid. Buyers Choice auctioning will continue until all three tracts have sold. We will then sell Tract 4 for a Lump Sum total dollar amount. Immediately following the auction, the successful bidder(s) shall enter into a written agreement with the sellers. Taxes will be prorated to the date of possession. Possession will be given on all tracts at the time of closing, subject to the current lease with the tenants running through February 2024. All tracts sell free and clear for the 2024 farming season. Immediately following the auction, the successful buyer(s) will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing which will take place on or before October 2, 2023 upon delivery of a merchantable abstract and deed. Possession will be given at the time of closing, subject to the current lease. Contact the auction manager for lease details. Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property. All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers, LLC pertaining to this property. Real estate is being sold AS IS.

The Michael E. Jennings Estate

Joanna Peterson - Executor

Representing Attorney: Phil Parsons | Bordwell & Parsons, PLC Attorneys at Law

206 W Main St, Washington, IA 52353 | (319) 653-2177

Auction Manager: Jeff Hoyer (319) 759-4320