Houghton, IA 52631(Lee County)

Attention farmers, investors & home buyers, don't miss this rare opportunity to purchase highly productive Henry & Lee County, Iowa farmland, as well as a beautiful brick ranch style home with a very appealing setting. These farms would make excellent additions to any existing operation or an investors portfolio.

Be watching for additional information to appear soon!

OPEN HOUSE TRACT 4

Tuesday, June 11, 2024 4:00 - 5:30 PM

Physical Address: 1806 335th Street, Salem, Iowa 52649

TRACT INFORMATION

Tract 1 69 Acres (subject to survey)

FSA figures indicate 67.54 cropland acres.

Major soil types are Grundy & Edina.

CSR2 is 66.5 (entire tract).

Highly productive, 100% tillable tract of land.

There is a 50 x 64 machine storage building with concrete floor.

Access is on the east off of 140th Ave. and the south off of Hwy #16.

Tract 2 106 Acres (subject to survey)

FSA figures indicate 105.83 cropland acres of which 5.10 acres are enrolled in CRP (CP21) at a rental rate per acre of $215.00 with the contract expiring on 9-30-2028.

Major soil types are Arispe, Grundy & Haig.

CSR2 is 73.2 (tillable only).

Highly productive, nearly 100% tillable tract of land.

There is a Morton 48 x 144 machine storage building.

Access is on the east off of Hwy #218/#27 and the north off of 335th St.

Tract 3 146 Acres (subject to survey)

FSA figures indicate 142.25 cropland acres (new measurement) of which 6.34 acres are enrolled in CRP (CP21) at a rental rate per acre of $215.00 with the contract expiring on 9-30-2028 and an additional .99 acres enrolled in CRP (CP8A) at a rental rate of $197.00 with the contract expiring on 9-30-2030.

Major soil types are Haig, Grundy & Arispe.

CSR2 is 75.8 (tillable only).

Highly productive, nearly 100% tillable tract of land.

Access is on the west off of Hwy #218/#27 and the north off of 335th St.

Tract 4 Home, Outbuildings & 5 Acres (subject to survey)

Physical Address: 1806 335th Street, Salem, Iowa 52649

This beautiful brick ranch style home boasts 2,576 sq. ft. of living space with 1,618 sq. ft. of basement area. The home features 3+ bedrooms, large living/dining room, large family room, modern kitchen, bonus rooms and 2 full baths. There is an attached 3 stall garage, small barn with lean-to, 3 concrete silos and 2 Harvestore silos, all situated just off the four lane and only minutes from Mt. Pleasant, Iowa.

METHOD & TERMS

The Holtkamp Farms will be sold in (4) four individual tracts. Tracts 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. The tracts will NOT be offered in their entirety at the conclusion of the auction. 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 Tracts 1, 2 & 3 at the time of closing, subject to the current lease with the tenants running through February 2025. Full possession will be given on Tract 4 at the time of closing. Tracts 1, 2 & 3 sell free and clear for the 2025 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 about August 9, 2024 upon delivery of a merchantable abstract and deed. Buyer(s) will receive 50% of the cash rent as a credit at closing for their respective tracts. Contact the auction manager for lease details. Subject to the Iowa Septic System Law, Tract 4 is held in an estate, therefore the septic system is exempt from any septic system testing or upgrades. Any future septic system testing or upgrades will be at the buyer(s) expense.

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, a BigIron company pertaining to this property. Real estate is being sold AS IS.

Clarence B. "Sage" Holtkamp Trust

M. Rae Holtkamp Estate

Chris Holtkamp - Trustee/Executor

Representing Attorney: Alyssa Stewart | Anderson, Roberts, Porth, Wallace, Stewart & Werner LLP

524 N Main St, Burlington, IA 52601 | (319) 754-7585

Auction Manager: Jeff Hoyer (319) 759-4320