Horton – +/-322.89 Acres of Unimproved Sweet Twp., Pipestone Co., MN Land
September 28, 2022 @ 10:00 am
ESTATE LAND AUCTION
+/-322.89 Surveyed Acres in 2 High Producing Sweet Township Pipestone County Minnesota Farms
We will offer both of these farms “On Site” at or near FARM #1 – Located from Pipestone, MN – approx. 5 miles west on Hwy. #30 and 4 miles south on Co. Hwy #13 (20th Ave.) to the SE Corner of FARM #1; from Ihlen, MN (Jct. Hwy. #23 & Co. Hwy. #2 or 41st St.) – approx. 3 miles west and 2 miles north on Co. Hwy. #13 (20th Ave.); from Flandreau, SD – 3 miles south on Hwy. #13, approx. 6½ miles east on Hwy. #34 to the SD/MN State Line – continue approx. 2 miles east on Hwy. MN #30, to 20th Ave. (Co. Hwy. #13), 4 miles south on Co. Hwy #13 (20th Ave.) to the SE Corner of FARM #1; or from Trent, SD – 12 miles east on 240th St. & 2 miles north on 20th Ave.
WEDNESDAY SEPTEMBER 28, 2022 FARMS #1 & #2: SALE TIME – 10:00 AM – Both of these farms will be offered “On Site” at FARM #1
AUCTIONEER’S NOTE: In order to settle the Fern Horton Estate and on behalf of her Trust, we will offer the following parcels of farmland at public auction with the auction of both farms to be held “On Site” at FARM #1. This auction presents the opportunity to purchase 2 parcels of highly productive cropland located in the Garden Spot of Southwestern Minnesota. Both of these farms have excellent locations to nearby highway accesses and are within approx. 6 miles of the Cargill Grain Terminal, as well as other area grain markets and livestock facilities. If you are in the market for a parcel or parcels of productive Pipestone County MN Land to add to an area row crop farming operation or as an investment, then make plans to inspect these properties and be in attendance at this auction!
THIS PROPERTY WILL BE SOLD SUBJECT TO AN EXISTING FARM LEASE FOR 2022 – with the buyer to receive a seller enhanced rent for 2023 at closing on FARM #1 – $325.00 per tillable acre & on FARM #2 – $300.00 per tillable acre. Thus, these parcels have excellent potential to provide a strong cash flow and return on investment.
FARM #1 – +/- 160.78 Surveyed Acres of Extremely Choice High Percentage Tillable Land – LEGAL DESC.: The SE¼ of Sec. 36, T. 106N., R. 47W., (Sweet Twp.), Pipestone Co., MN, containing 160.78 Acres M/L.
FARM #1 consists of +/- 160.78 Acres of Choice High Quality Productive Cropland with an Extremely High Percentage Tillable & Superb Soils. This +/-160.78 acre parcel of land will be offered as an individual parcel. This farm has tremendous eye appeal and has a level to gently rolling topography and high quality soils. According to FSA information this farm has approx. 154.98 acres of cropland with a 68.5 acre corn base with a 150 bu. PLC yield and an 84.6 acre soybean base with a 38 bu. PLC yield and is enrolled under the ARC County Election of the USDA farm program for Corn & Soybeans. This land has some excellent soils as according to the Pipestone County Assessor this farm has a CER of 73.60 and information obtained from Surety Agri-Data indicates this land has an extremely high weighted soil rating of 96.5, with the predominate soils comprised of primarily Class I & II soils. The farmability of this land has been enhanced by the installation of drain tile in sectors of this land at various times throughout the last +/-25 years. The Non-Homestead RE taxes payable in 2022 on this land were $6,096.00. This land is under lease for 2023 and the buyer will receive an enhanced cash rental credit at closing calculated as 155 tillable acres x $325.00 per acre for a total payment of $50,375.00.
FARM #2 – +/- 162.11 Surveyed – Located from the SE Corner of FARM #1 (Jct. of 20th Ave. & 61st St.) – 1 mile north on 20th Ave/Co. Hwy. #13 and ½ mile east on 71st St. (NE Corner of the land at the Jct. of 30th Ave. & 71st St.); from Pipestone, MN – approx. 5 miles west on Hwy. #30 and 3 miles south on Co. Hwy #13 (20th Ave.) and ½ mile east on 71st St.; or from the SD/MN State Line on Hwy. #30 – continue approx. 2 miles east on Hwy. #30, then 3 miles south on 20th Ave. And ½ mile east on 71st St. – LEGAL DESC.: The NE¼ of Sec. 31, T. 106N., R. 46W., (Sweet Twp.), Pipestone Co., MN, containing 162.11 acres M/L.
FARM #2 consists of +/-162.11 acre parcel of Sweet Township, Pipestone County, MN Land with a relatively high percentage tillable, with the nontillable acres comprised primarily of a waterway and roads. This +/-162.11 acre parcel of land will be offered as an individual parcel. This farm has a gently rolling to rolling topography and contains some high quality productive soils. According to FSA information this farm has approx. 153.43 acres of cropland with a 77.4 acre corn base with a 150 bu. PLC yield and a 76.0 acre soybean base with a 38 bu. PLC yield and is enrolled under the ARC County Election of the USDA farm program for Corn & Soybeans. This land has some high quality soils as according to the Pipestone County Assessor this farm has a CER of 69.30 and information obtained from Surety Agri-Data indicates this land has a high weighted soil rating of 91.60, with the predominate soils on the cropland acres being comprised of primarily Class I & II soils. The farmability of this land has been enhanced by the installation of drain tile in sectors of this land, which according to documentation provided by the sellers, indicates there has been a significant amount of drain tile installed in this land including over 33,300’ of tile installed by Evans Farm Drainage in 2019 at a cost of nearly $55,000.00. The Non-Homestead RE taxes payable in 2022 on this land were $5,632.00. This land is under lease for 2023 and the buyer will receive an enhanced cash rental credit at closing calculated as 153.5 tillable acres x $300.00 per acre for a total payment of $46,050.00.
TERMS: Cash – A 10% nonrefundable earnest money payment sale day and the balance on or before Nov. 18, 2022, with landlord’s possession, with full possession subsequent to the harvest of the 2023 standing crops and the existing tenants rights to remove corn stalks and/or bean straw in accordance with mutual agreements between the parties and the existing farm lease, which technically expires the last day of February 2024. Marketable Title will be conveyed and abstracts of title continued to date will be provided to the buyer for examination prior to closing. The closing agent’s fee (O’Neill & Barduson Law) to be divided 50-50 between buyer & seller. All of the RE taxes payable in 2022 will be paid by the sellers with the buyer(s) to be responsible for payment of all of the RE taxes due & payable in 2023. The sellers do not warranty or guarantee that existing fences lie on the true boundary and any new fencing, if any, will be the responsibility of the purchaser pursuant to MN statutes. FSA cropland acres, yields, bases & other information are estimated and subject to County Committee approval. These properties are sold based on the acres as determined by a survey as completed by Stockwell Engineers Inc., with the acres understood to be “more or less”. All of the properties sold on this auction are sold subject to existing easements, restrictions, reservations or highways of record, if any, as well as any or all applicable county zoning ordinances. Information contained herein is deemed to be correct, but is not guaranteed. The RE licensees/auctioneers in this transaction stipulate that they are acting as agents for the sellers. Sold subject to confirmation of the Co-Trustees. Each of these farms have potential to provide exceptional cash flows and would make excellent additions to area row crop or crop/livestock operations and/or as investment properties, as each have high caliber productive soils. For additional information contact the auctioneers.
FERN E. HORTON ESTATE TRUST – Dennis Horton and Linda Horton Ferris – Co-Trustees
Damain Sandy – O’Neill & Barduson Law Firm – Attorney & Closing Agent for the Estate – Pipestone, MN – ph. 507-825-4266
CHUCK SUTTON – Auctioneer & Land Broker – Pipestone Realty LLC- MN Auct. Lic. #59-26 – Sioux Falls, SD – ph. 605-336-6315 & Pipestone, MN – ph. 507-825-3389
DEAN STOLTENBERG – RE Salesperson & Auctioneer – Lic. #59-38 – Jasper, MN – ph. 507-348-7352
JARED SUTTON, CAI – RE Salesperson & Auctioneer – Lic. #59-72 – Flandreau, SD – ph. 605-864-8527