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ABSOLUTE LAND AUCTION 5 small tracts (207.21 Acres m/l) East edge of Glenwood, Mills County, Iowa Thursday, March 20, 2008 10:00am Sale Site: American Legion Building, North Side of Square, Glenwood, IA General Description: This land is mostly rolling hills with excellent farm income potential as well as prime development land with exceptional views. All five tracts have excellent building sites for one or multiple houses and are located on the east edge of Glenwood, Iowa along paved road 949 (old Hwy 34). All five tracts are currently zoned agricultural and are being row cropped. The land is not rented for 2008. No buildings are being sold with the property. Location: This land is located about 1 mile east of the new high school, Twin Lake Park and the Sports Complex in Glenwood, Iowa. The YMCA is about 1.5 miles west of the property and the town square is about 2 miles west. US Highway 34 (a divided highway) is approximately ½ mile south of the land. TRACT 1 – 30.75 acres Description: Highway frontage on NE side of highway; 360 degree vistas from a high hill; multiple building sites; high percentage of tract is cropable; adjoins and shares entrance with Tract 2. Dirt has been purchased for the construction of the new high school from this tract. The contractor has the right to remove additional dirt from the top of the hill and has the obligation to spread the stockpiled topsoil back over the hilltop. Seller will retain all money from the sale of this dirt. Legal (not updated): NW ¼ NE ¼ lying north of highway, Section 18-T72N-R42W of 5th PM, Mills County, Iowa Taxable Acres: 30.75 Gross Taxes: $384.00 estimated CSR: 51.72 estimated TRACT 2 – 28.42 acres Description: Highway frontage on NE side of highway; wonderful hill-top views, multiple building sites; high percentage of tract is cropable; some timber along creek; adjoins Tract 1. Tract 2 will have a 40’ easement from the existing driveway on Tract 2, westward to Tract 1, to allow access to Tract 1. Legal (not updated): NE ¼ NE ¼ lying north of highway and west of ditch, Section 18-T72N-R42W of 5th PM, Mills County, Iowa Taxable Acres: 28.42 Gross Taxes: $382.00 estimated CSR: 51.45 estimated TRACT 3 – 72.34 acres Description: Largest tract; highway frontage on NE side of highway; suitable for large development or farming; adjoins Tract 4. Legal (not updated): SW ¼ NW ¼ lying NE of highway & SE ¼ NW ¼ all in Section 17-T72N-R42W of 5th PM, Mills County, Iowa Taxable Acres: 72.34 Gross Taxes: $929.00 estimated CSR: 57.5 estimated TRACT 4 – 44.03 acres Description: Largest amount of highway frontage on NE side of highway; excellent building sites; together with Tract 3 would make a large development or a nice sized farm unit; adjoins Tract 3. Legal (not updated): NE ¼ SW ¼ except part SW of highway and that part of NW ¼ SW ¼ lying NE of highway in Section 17-T72N-R42W of 5th PM, Mills County, Iowa Taxable Acres: 44.03 Gross Taxes: $480.00 estimated CSR: 51 estimated TRACT 5 – 31.67 acres Description: Highway frontage on the SW side of highway; this tract is away from the other tracts and has an estimated 12.57 acres of timber. Legal (not updated): NW ¼ SW ¼ except acreage with house and buildings and except part lying NE of highway plus part of NE ¼ SW ¼ lying SE of highway, Section 17-T72N-R42W of 5th PM, Mills County, Iowa Taxable Acres: 31.67 Gross Taxes: $325.00 estimated CSR: 58.8 estimated GENERAL USDA FSA INFORMATION: Currently, the 5 tracts are one FSA farm unit. After the auction, the FSA will split the crop bases and re-measure the crop acres for the new owners. Crop Acres: 191.5 (90% cropable) Commodity: Corn: Base Acres: 114.4 DPY: 106/CCPY: 107 TERMS: Each tract will sell individually (taxable acres times the bid per acre). Ten percent (10%) down must be paid on sale day, to be held in Broker’s Trust Account with balance due by cashier’s check at closing. If sale fails to close for buyer-related reason, buyer forfeits down payment to seller. CLOSING: Closing and possession will be on or before April 24, 2008. Buyer may take immediate possession by paying an additional 10% down. Seller agrees to cooperate if buyer is doing an IRS 1031 Exchange. SURVEY & LEGAL DESCRIPTION: All tracts have been surveyed and new legal descriptions will be provided in the title work. Seller will provide a survey of each tract and the final price will be adjusted to the surveyed taxable acres; TITLE: Title insurance will be provided with the seller and buyer each paying ½ of the cost of title insurance. No abstracts will be provided. Sale of property is subject to all easements of record. INSPECTION: Buyers should inspect property prior to the auction. Please call auctioneers for information. AGENCY: CENTURY 21 Rubey Realty and its representatives are seller’s agents. ATTENTION BIDDERS: Information in this bill was collected from sources deemed reliable. Auctioneers and sellers assume no responsibility for its accuracy. Bidders are advised to do whatever research they feel is necessary before the auction. Announcements on sale day take precedence over all other advertising. Russell G. Crouch Estate CENTURY 21 Rubey Realty, Broker Clint Rubey, Auctioneer 1000 A Broadway, Red Oak IA 51566
For more details and photos, go here to View the Salebill
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