Kleinjan – Estate Land Auction – +/-223.39 Acres of Unimproved Elmer Twp., Pipestone Co., MN Land
October 15, 2021 @ 10:00 am
ESTATE LAND AUCTION
+/-232.39 Acres of Elmer Township, Pipestone County Minnesota Land – This Farm Includes Relatively High Percentage Tillable and has Some Excellent Productive Cropland and is Situated in an Excellent Agricultural Area Between Trosky and Edgerton, MN
** Auction brochure coming soon – please check back! **
We will offer the following farmland at public auction “On Site” at the land located from the Trosky Corner on Hwy. #75 – approx. ¾ mile south on Hwy. #75 to 21st St. (Hwy. #268) – then 2 miles east to the SW Corner of the land at the Jct. of 21st St. & 120th Ave.; from Edgerton, SD – approx. 4 miles west on 21st Street; or from Pipestone, MN – approx. 8 miles SE on Hwy. #75 and 2 miles east on 21st St.; or from Hwy. #23 in Jasper, MN – 8½ miles east on Hwy. #1 (1st Ave.) and 2 miles north on 120th Ave.
FRIDAY OCTOBER 15, 2021 SALE TIME: 10:00 AM
AUCTIONEER’S NOTE: We are pleased to offer this high caliber farm at public auction on behalf of the Heirs of Ella Kleinjan. Due to the multi-fractioned ownership and the advancing ages of the owners, the difficult decision has been made to dissolve our partnership and offer this property at public auction. If you are in the market for a high caliber parcel 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 of $63,330.00.00 at closing and will receive 100% of the CRP Payment payable in 2022 in the total amount of $375.00.
This +/-232.39 acre parcel of land will be offered as one individual parcel of land. This farm has a gently rolling to somewhat rolling topography, has some high quality productive soils and has very good eye appeal and an excellent location near Trosky, MN and is bordered on the south by Hwy. #268 (21st Street). According to the Pipestone County Assessor this farm has a total of +/-232.39 acres and according to FSA information this farm has approx. 211.20 acres of cropland, with the non-tillable acres comprised of a waterway, 1.90 acres of CRP and roads, with an FSA 88.49 acre corn base with a 132 bu. PLC yield and a 88.11 acre soybean base with a 39 bu. PLC yield and is enrolled under the ARC County Election of the USDA farm program for Corn & Soybeans; also, this property has a CRP contract on 1.9 acres enrolled at $197.49 per acre which generates a total annual payment of $375.00, with the contract scheduled to expire on Sept. 30, 2023. This land has some excellent soils as according to the Pipestone County Assessor this farm has a CER on the SW¼ of 69.14 and on the S½ NW¼ of 71.3 and information obtained from Surety Agri-Data indicates this land has a high weighted soil rating on the property in its entirety of 92.3, with the predominate soils on the crop acres comprised of primarily Class I & II soils. The buyer will be assigned to receive 100% of the CRP payments payable in 2022 and for the remaining term of the CRP contract. The farmability of this land has been enhanced by the installation of drain tile and ditching in sectors of this land, which according to documentation provided by the sellers, it is indicated that approx. 5,427’ of tile installed in 2002; 1,150’ of tile installed in 2002; approx. 1,100’ of tile installed in 2003; 1,475’ of tile installed in 2005; 2,640’ of tile installed in 2009; and approx. 4,940’ of tile was installed in 2011. Additionally, there was a significant amount of excavation and ditching completed at various times. The buyer will receive at closing a sellers enhanced cash rental payment for 2022 of $63,330.00 on +/-209.1 acres of cropland equates to approx. $302.00/acre, plus the CRP payment of approx. $375.00 which equates to a total income of $63,705.00 – which on the entire 232.39 acres equates to approximately $274.13 per acre. The combined total Non-Homestead RE taxes payable in 2021 on this land were $6,788.00.
LEGAL DESC.: The SW¼, Except a Tract beginning 649’ east of the SW corner of the SW ¼, then N. 86’, W. 54’, N. 394’, E. 701’, S. 480’, W. 647’ to the point of beginning; and the S½ NW¼, all in Sec. 23, T. 105N., R. 45 W., (Elmer Twp.), Pipestone County, MN.
TERMS: Cash – A 10% nonrefundable earnest money payment on the day of the sale and the balance on or before Dec. 1, 2021, with landlord’s possession and subject to the assumption of the 2022 cash rental lease and the rights of the existing tenants to harvest the 2022 crops and the terms of their existing farm lease which ends on March 1, 2023. At closing the buyer to receive payment for a seller enhanced cash rent of $63,330.00.00 at closing and will receive 100% of the CRP Payment payable in 2022 in the $197.49 per acre on 1.9 acres for a total amount of $375.00 – with the CRP contract scheduled to expire on 9/30/2023.
Marketable Title will be conveyed and abstracts of title continued to date will be provided to the buyer for examination prior to closing. The buyer will be obligated to assume and comply with all remaining terms and provisions of the existing CRP contract and any repayment or penalty as a result of non-compliance with be the responsibility of the buyer, with the sellers retaining the CRP payment payable in 2021, with the purchaser to receive 100% of any CRP payments payable in 2022 or thereafter. All of the RE taxes payable in 2021 will be paid by the sellers with the buyer(s) to be responsible for payment of all of the RE taxes due & payable in 2022. 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. Drain tile maps are unavailable and tile installation information is as provided by the owners and is assumed to be correct, but is not guaranteed. These properties are sold based on the acres as stated on the County Tax Records, with the acres understood to be “more or less”. This property is 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 Owners. This property has potential to serve as an excellent addition to an area row crop or crop/livestock operation and/or as an investment property. Please mark your calendars and plan to attend this auction, or if you are unable to attend and need to make arrangements to bid by phone, then contact the auctioneers prior to sale day to make arrangements.
HEIRS OF ELLA KLEINJAN
Damain Sandy – O’Neill & Barduson Law Firm – Attorney & Closing Agent for the Estate – Pipestone, MN
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 – RE Salesperson & Auctioneer – Lic. #59-72 – Flandreau, SD – ph. 605-864-8527