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Gath Farms – Rural Acreage Construction Site & Land Aucton -+/-38.78 Surveyed Acres of Extremely Well Located Edison Twp., Minnehaha Co., SD Land

April 27, 2023 @ 10:00 am

LAND AUCTION

 BARE MINNEHAHA COUNTY, SD RURAL ACREAGE CONSTRUCTION SITE & LAND AUCTION 

Well Located +/-38.78 Surveyed Acres of Extremely Well Located Edison Township, Minnehaha County, SD Land – Located Adjacent to SD Hwy. #11 and Situated Between Brandon & Corson, SD and Garretson, SD – To be Offered as Parcel #1 – +/-4.02 Acre Rural Residential Construction Site; Parcel #2 – +/-34.76 Acres of High Percentage Tillable Productive Cropland; or Parcels #1 & #2 Combined – The +/-38.78 Acre Unit.

We will offer the following real property at auction, with the auction to be held “On Site” at the land which is located directly north of the “landmark” barn at 25588 482nd Ave., Brandon, SD; or located from the Brandon-Corson, SD Exit #406 on I-90 – 4¼  miles north on Hwy. #11 (482nd Ave.); or from Garretson, SD – 3 miles west on Hwy. #11 to the Hwy. Curve, then approx. 1 ¾ miles south on Hwy. #11 (482nd Ave.).

THURSDAY APRIL 27, 2023                        SALE TIME:  10:00 AM

This auction presents the opportunity to purchase a property that is a “rare find” for an extremely well located rural property situated within a close proximity to Brandon, SD & other area communities and points of interest. This property will be offered in multiple parcels, with the Actual Acres being determined by Survey, with PARCEL #1 (Potential Future Acreage Housing Site) – +/- 4.02 Acres; PARCEL #2 – The Choice High Percentage Tillable Parcel Estimated to Contain +/-34.76 Acres or as PARCELS #1 & #2 Combined – The +/-38.78 Acre Unit which is virtually 100% tillable with High Quality Soils.

THIS PROPERTY WILL BE SOLD WITH THE BUYER TO HAVE THE OPTION TO TAKE POSSESSION TO EITHER FARM THE PROPERTY THEMSELVES OR LEASE THE PROPERTY TO A TENANT OF THEIR CHOICE IN 2023; OTHERWISE, THE SELLER WOULD LEASE BACK THE PROPERTY IN 2023 AT A RATE OF $300.00 PER ACRE ON +/-37 ACRES = $11,100.00 (or a Prorated Amount if Divided).  IF PARCEL #1 SELLS SEPARATELY – THE BUYER MAY RECEIVE FULL POSSESSION AT CLOSING FOR CONSTRUCTION OR RECEIVE THE RENTAL PAYMENT ON 4 ACRES.

 

PARCEL #1 is comprised of a well located surveyed parcel situated in the Southwest Corner of the Property – containing +/-4 acres – with general dimensions being +/-620’ East and West and 282’ North & South, and subject to a 60’ mutual access easement along the south edge of the property for the joint use of the easement for the purchaser of Parcel #1 and access for the purchaser of Parcel #2 for farm access to the +/-34.76 acres of farmland which lies north and east of the proposed acreage site (Parcel #1).  Parcel #1 has potential to serve as an excellent rural acreage construction site for a new home, especially due to the superb location and highway access and the closeness to nearby communities, I-90 and other nearby County Highways.  Minnehaha Community Rural Water has an existing line on the west side of Hwy. #11, for information concerning costs, availability and other questions contact them at 605-428-3374.  PARCEL #2 Consists of +/-34.76 Acres which has an extremely high percentage tillable and has excellent eye appeal with a level to gently rolling topography.  According to FSA information this farm as a whole has approx. 36.94 acres of farmland and 36.94 acres of cropland with a 33.70 acre corn base with a 103 bu. PLC yield and a 3.20 acre soybean base with a 33 bu. PLC yield and is presently enrolled under the ARC Co. Election of the USDA farm program.  Information obtained from Surety Agri Data, Inc., indicates this land has a soil rating of 81.  This land was fertilized in the Fall or 2022 in preparation for 2023 crop year for corn, with the fertilizer to pass at NO ADDITIONAL COST TO THE BUYER.  According to Minnehaha County Planning and Zoning this property has a total of 1 available rural housing eligibility.  This land has a combination of terrific attributes including a superb location, an extremely high percentage tillable, quality soils and more, making this an excellent property for a future acreage housing site, addition to an area farming operation and/or investment property within approximately 10 miles of Sioux Falls, SD, Brandon, SD, Garretson, SD and other area communities and points of interest.

LEGAL DESC.: N½ S½ SW¼, Exc. Lot H-1, Sec. 35, T. 103N., R. 48W., (Edison Twp.), Minnehaha Co., SD.

TERMS:  Cash – A 10% non-refundable earnest money payment sale day and the balance on or before June 7, 2023.  Buyer to have the option to take immediate full possession of the cropland to either farm or lease as they desire; otherwise the sellers would agree to a leaseback for the 2023 crop year at a rate of $300.00 per acre on 37 acres or a total of $11,100.00, or prorata amount thereof, to be credited to the buyer at closing, with the lease expiring following the harvest of the 2023 crop.  Marketable title will be conveyed with an owner’s title insurance policy provided with the cost divided 50-50 between the buyer and seller, additionally a title company closing fee, if any, will be divided 50-50 between the buyer and seller.  All of the 2022 RE taxes payable in 2023 in the amount of $2,774.44, will be paid by the sellers, with the buyer to pay all of the 2023 RE taxes payable in 2024.  The acres in the parcels will be based on a recent survey of the property as completed by Kor Land Surveying, with acres to be sold being understood to be “more or less”. The sellers do not warranty or guarantee that the existing fences lie on the on the true and correct boundary and new fencing, if any, will be the responsibility of the purchaser pursuant to SD law.  FSA cropland, yields, bases & other information is estimated and not guaranteed and are subject to county committee approval.  Information contained herein is deemed to be correct but is not guaranteed.  This property is sold in “AS IS” CONDITION and subject to any existing easements, restrictions, reservations or highways of record if any, as well as any or all Minnehaha County, SD Zoning Ordinances.  The seller(s) intend to utilize this property in connection with a 1031 tax free exchange and the buyer will agree to cooperate with facilitation of the exchange, although any expenses related to the exchange will be paid by the seller(s).  The RE licensees in this transaction are acting as agents for the  owners.  Sold subject to confirmation of the owners.  To make arrangements for absentee bidding or for other information or questions contact the auctioneers.

 GATH FARMS, Etal – Owners

 CHUCK SUTTON – Auctioneer & Land Broker – Sioux Falls, SD – ph. 605-336-6315

JARED SUTTON, CAI – RE Auctioneer & Broker Assoc. – Flandreau, SD – ph. 605-864-8527

TOM & TED SOUVIGNIER – Auctioneers & RE Broker Associates – Canton, SD – 605-987-2404

 

Auction Details

Date:
April 27, 2023
Time:
10:00 am
Auction Categories:
, ,
Brochure
View PDF

Auctioneers

Chuck Sutton
Jared Sutton, CAI
Tom Souvignier
Ted Souvignier

Auction Details

Date:
April 27, 2023
Time:
10:00 am
Auction Categories:
, ,
Brochure
View PDF

Auctioneers

Chuck Sutton
Jared Sutton, CAI
Tom Souvignier
Ted Souvignier

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