Lansdowne LLP – Oak Lake Twp., Brookings County, SD Land Auction
May 10 @ 10:00 am
LAND AUCTION
+/-160 Acres of Very Well-Located Oak Lake Twp., Brookings County SD Land – Bordered by an Oil Highway with a Mixture of Productive Cropland & Pasture
We will offer the following Land at Public Auction “Onsite” at the land. Located from White, SD – Corner Gas & Goodies (Cenex) – 7 Miles North on 478th Ave, and 3 ½ Miles East on 197th St. to the NW Corner of the Land. From Astoria SD – ¾ Mile South on 483rd Ave, then 2/10 Mile West on 196th St., continue 1 Mile South on 483rd Ave, then 1 Mile West on 197th St.
WEDNESDAY MAY 10, 2023 Sale Time: 10:00 AM
This auction awards the opportunity to purchase a very well located +/-160 Acre farm bordered by an oil highway situated in Oak Lake Twp., Brookings County, SD. This parcel could provide areas which would be adaptable for a potential rural housing site with the good location of this property & the fact that it is bordered by a oil highway on the north side of the property & located just 1 ½ miles from Oak Lake. RW is located along the North Side of the Property off 197th St., as well as 3 Phase Electric. According to FSA information, this property consists of +/- 94.60 Acres of Cropland with a 37.30 acre corn base & a 103 Bu. PLC Yield, a 19.00 acre soybean base with a 33 Bu. PLC yield as well as a 19.00 acre wheat base with a 37 Bu. PLC yield. Information obtained through Surety Agridata Inc. indicates that this property in its entirety has a weighted average Productivity Index of a 54.8, however, on the +/-94.60 Acres of Cropland, this parcel is indicated to have a Productivity Index of a 72.3 with a large percentage of Class II soils & lower quality soils in the pasture & lowland areas. The pasture on the property consists of well managed native grass with established 4 barbed wire fences, and water supply is provided by a creek for livestock. The pasture on the property is under lease for the 2023 crop year with the buyer to receive a cash rental credit of $75.00 per acre on approximately 58 acres for a total of $4,350.00. The buyer will have the option to take immediate possession to farm or lease the cropland for the 2023 crop year, or the current owner would agree to lease back the cropland at a rate of $250.00 per acre on +/- 94.06 Acres for a total of $23,515.00 for the 2023 crop year. All rental amounts would be payable as a credit at closing for their respective amounts. A positive factor on this property is that there are NO restrictive Grassland or US Fish & Wildlife Easements whatsoever on this land. Another great attribute to this property is that there are some attractive potential sites for future housing, if a future owner should desire to utilize them. All of the 2022 RE taxes payable in 2023 in the amount of $2,312.02 will be paid by the sellers, with the buyer to pay all of the 2023 RE taxes payable in 2024. If you are in the market for Brookings County Land with quality grass, & productive cropland with respectable soils, then make plans to inspect this property and be in attendance at this auction!
LEGAL DESCRIPTION: The NE ¼ of Sec. 10, T. 112N., R.48W., Oak Lake Twp., Brookings County, SD
TERMS: Cash – A 10% non-refundable earnest money payment sale day and the balance on or before June 21, 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 $250.00 per acre on 94.60 acres or a total of $23,515.00, the pasture portion of +/-58 acres is under lease for 2023 and the buyer will receive a rental credit of $75.00 per acre for a total of $4,350.00 which will be credited to the buyer at closing, with the lease expiring following the 2023 grazing season. 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 $2,312.02 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 the acres as stated on the county tax records, with acres 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 Brookings County, SD Zoning Ordinances. The RE licensees in this transaction are acting as agents for the sellers. Sold subject to confirmation of the owners. To make arrangements for absentee bidding or for other information or questions contact the auctioneers. To view additional information on this auction visit: www.suttonauction.com or www.burlagepeterson.com.
LANSDOWNE, LLP – Owner
Auction Conducted By:
CHUCK SUTTON AUCTIONEER & LAND BROKER, LLC – Chuck Sutton & Jared Sutton – Sioux Falls, SD – ph. 605-336-6315 & Flandreau, SD – ph. 605-997-3777
BURLAGE-PETERSON AUCTIONEERS & REALTORS, LLC – Scott & Jim Peterson, Tyler & Lenny Burlage, & Dustin Tetzlaff – Brookings, SD – ph. 605-692-7102
