OTTO KLEIN TRUST, LARRY KLEIN TRUST & DEAN KLEIN TRUST

 REAL ESTATE AUCTION
347.95 ACRES - 3 TRACTS
 SECTION 10 WESTPHALIA TOWNSHIP& SECTION 29 WASHINGTON TOWNSHIP, SHELBY CO., IA,

SECTION 27 DOUGLAS TOWNSHIP, HARRISON CO., IA,

THURSDAY, AUGUST 8TH,  2024  @ 10:00AM  

SALE LOCATION:  ST. MARY’S PARISH CENTER - 208 ST. MARY’S AVE, PANAMA, IA

SIMULCAST ONLINE BIDDING AVAILABLE DURING LIVE AUCTION

 


TRACT 1: 116 ACRES                      CSR2 65.9

FARM LOCATION:  From Earling, go 1 1/2 miles East on US 37, then 1 mile South on Ironwood RD. Farm is SE of the intersection of Ironwood RD and 1800th.

PHYSICAL DESCRIPTION: A gently rolling hill farm with 50% of the acres with 81-95 CSR’s. The farm is 1 mile to a major highway.

SOIL TYPES: Judson-Ackmore-Colo Overwash, Monona Silty Clay Loam, and a small amount of Burchard, Liston-Burhard, and Ida Silt Loam.

FSA INFORMATION: Farm #7915 Tract #13662
Farmland: 117.97 Acres Cropland: 113.78 Acres    

Corn Base:  67.1 Acres PLC Corn Yield: 163 Bu.

Soybean Base: 24.7 Acres PLC Soybean Yield: 56 Bu.

Oat Base: .90 Acres PLC Oat Yield: 48 Bu.

Taxable Acres: 116      TAXES: $3872

 

 

TRACT 2: 151.353 ACRES                      CSR2 61.5

FARM LOCATION: From Panama go W 2 3/4 miles on F32, the farm is located on the south side of F-32

PHYSICAL DESCRIPTION: A gently rolling hill farm that boast over 60 of the acres with 81-95 CSR’s. The farm is in a high state of fertility.

SOIL TYPES: Monona Silty Clay Loam, Judson-Ackmore-Colo Overwash, and a small amount of Ida and Ackmore Silt Loam.

FSA INFORMATION: Farm #7914 Tract #2290
Farmland: 156.89 Acres Cropland: 144.41 Acres    

Corn Base:  88.5 Acres PLC Corn Yield: 163 Bu.

Soybean Base: 32.6 Acres PLC Soybean Yield: 48 Bu.

Oat Base: 1.2 Acres PLC Oat Yield: 56 Bu.

Taxable Acres:  151.353 estimated taxes: $4680

*acreage has been surveyed off and is not apart of tract 2*


TRACT 3: 78 ACRES                      CSR2 53.6

FARM LOCATION:  From Panama, 7 1/2 miles W on F32, then 1/2 mile S on Toledo Ave. Or from Woodbine go 4 1/4 miles E on F32, then 1/2 mile S on Toldeo Ave. Farm is on the E side of Toledo Ave.

PHYSICAL DESCRIPTION: Gently rolling hill farm with a good portion of 2-5% creek bottom slopes.

SOIL TYPES: Napier Silt Loam, Ida Silt Loam, and Monona Silt Loam, and a small amount of Steinauer Clay Loam.

FSA INFORMATION: Farm #7916 Tract #2300
Farmland: 78.8 Acres Cropland: 43.33 Acres    

Corn Base:  26.3 Acres PLC Corn Yield: 163 Bu.

Soybean Base: 9.7 Acres PLC Soybean Yield: 48 Bu.

Oat Base: .40 Acres PLC Oat Yield: 56 Bu.

Taxable Acres: 78 TAXES: $1858



TERMS: At the conclusion of the auction the buyer(s) will be asked to sign a Real Estate Contract putting 15% of the sale price in escrow with Marcus Gross Attorney. Balance of the funds will be due and payable on or before closing on October 1st, 2024.  Sellers will furnish buyer(s) with abstract showing marketable title and deed. Taxes will be prorated to closing date and paid by sellers. 

CLOSING DATE: On or before October 1st, 2024
POSSESSION:  New buyers will have full landlords possession at time of closing and will receive full farming rights for crop year 2025.

ADDITIONAL CONDITIONS:  Property is being sold “as is” subject to any current right-of-ways or easements. All information has been gathered from sources deemed reliable, however neither Klein Family nor Schaben Real Estate, LLC make any guarantees, either expressed or implied, as to their accuracy. It is the responsibility of the buyer(s) to exercise due diligence to verify any and all figures. Any announcements made day of sale take precedence over printed material. All bidding increments are at the discretion of Schaben Real Estate, LLC. Successful bidder(s) will enter into a purchase agreement contract at the conclusion of the auction. Sale is not contingent on Buyer(s) financing. 
AGENCY DISCLOSURE: Schaben Real Estate, LLC  represents the seller in this transaction. Marcus Gross closing attorney.

LEGAL DESCRIPTION: Please contact Schaben Real Estate for legal description.

SALE MANAGERS NOTES: The Klein farms have so many things going for them. Very nice CSR’s, great locations, and tract sizes that will fit most producers. Please take a look and call with any questions. For more info contact Jim Schaben at 712-263-9449.