Olson Estate – +/-453.59 Acres of Centennial Twp., Lyon Co., IA Land

ESTATE LAND AUCTION

+/-453.59 Acres of Remarkable Centennial Township Lyon County Iowa Land Near Klondike, Iowa with a Myriad of Amenities Both Income Producing Land and Heavily Forested Hunting and Recreational Land and an Existing Acreage Farmstead and Additional Areas With Some Potential Future Executive Housing Locations with Income Produced from an Existing Operating Gravel and Aggregates Operation, Agricultural Cropland & Pasture – This is a “One of a Kind” Offering of Land with Unbridled Potential which will be Offered as Several Individual Parcels & Combinations of Parcels 

 To view drone video, please see below . . . 

On behalf of the Wanda Olson Trust and the Heirs of Milo & Wanda Olson, we will offer these spectacular parcels of land at public auction, with the auction to be held “On Site” near the gravel site operation which is situated in the NW sector of the property just east of Klondike on Hwy. A26 (180^th St.); or from Larchwood, Iowa – 4 miles south on Cherry Ave. and approx. 3½  miles west on 180^th St. to the Sale Site; from Inwood, Iowa – approx. 5 miles north on Cherry Ave. (Hwy. K 12) and approx. 3½ miles west on 180^th Ave.; or from Lester, Iowa Jct. of Dove Ave & 150^th St. – 3 miles south on Dove Ave. and approx. 9½ miles west on 180^th St.; from Canton, SD (4 Way Stop on Main St.) – 6 miles north on 481^st Ave. and approx. 3 ½ miles east; or from the Lennox, SD Exit #68 on I-29 – approx. 14 miles east.

FRIDAY OCTOBER 8, 2021                                                              SALE TIME: 10:00 AM  

ATTENTION!! Aggregate, Gravel & Material Producers, Contractors, Investors, Entrepreneurs, Farm & Livestock Operators, Hunters & Wildlife Enthusiasts & Others in the Market for Multifaceted Parcels of Agricultural and Recreational Land Situated Near Historic Klondike, Iowa.  These Parcels have been recently surveyed at the expense of the sellers, thus buyers may purchase this property with the confidence in knowing the actual acres in the parcels being offered on this auction.  This property will be offered in 5 individual Parcels,  Combinations of Parcels #2, #3, #4 & #5 or as a +/-416.87 Acre Unit, which Excludes Parcel #1 – The 36.72 Acre Gravel Operation & the Lots in Klondike Iowa, which will be offered individually. 

AUCTIONEERS NOTE:  This auction provides the opportunity to purchase land which has been owned by the Olson Family for many decades, as portions of this land have been owned by this family for over 100 years dating back to 1907. Throughout my 40+ years in the auction and real estate business, I have never encountered a more unique assemblage of rural land, with areas being a natural sanctuary of mother natures’ handiwork as portions are heavily wooded with 100+ year old oak trees and other deciduous trees which are a haven for deer and other wildlife.  Early settlers to the Klondike region of northwest Iowa realized the significance of the area for survival, protection from the elements and production of crops and hunting of wild game. 

PARCEL #1: Consisting of 36.72 ACRES – Parcel #1 Containing +/-34.95 Acres and Combined with Parcels #1A & 1B – Containing +/-1.77 Acres – Consisting of 10 Platted Lots in Klondike, IA.  Parcel #1A has a total of 7 lots with overall approximate dimensions being roughly 380’x150’ (+/-1.25 Acres) and Parcel #1B consists of 3 lots and overall is generally 150’x150’ (+/-.52 Acres) PARCEL #1 is located in the Northwest Sector of the Olson Property – Lying Between Klondike, IA and an acreage located at 1365 180^th St.  (which is an acreage being retained by a family member and which is NOT included with the property being offered for sale).  

PARCEL #1, which lies east of Klondike, IA – Consists of approx. 34.95 acres, of which approx. the south half is being utilized as a site for an operating gravel and aggregates operation and the north ½ is being utilized as agricultural land – currently being utilized as cropland which is currently planted to corn.  The unmined portion would provide for future excavation and expansion of the gravel/aggregates operation.  This site has excellent location adjacent to Hwy. A-26 (180^th St.) which is near the SD/Iowa Border at Klondike, IA.   PRELIMINARY LEGAL DESC.:  A Portion of Gov’t Lot 1 and a Portion of N1/2 NE1/4 incl. Klondike Lots in Sec. 21., T. 99N., R. 48W., (Lyon Co., IA).

Parcel #1 consists of a generally square shaped parcel of land that presently consists of a combination of an active gravel operation and a parcel of cropland that is situated in the northerly portion of this parcel that lies between the gravel operation and Hwy. A-26 (180^th St.).  The existing cropland portion of this parcel, (consisting of approx. 18.56 acres), provides area for future mining of gravel and other aggregates for future expansion of the gravel operation.  A subsurface exploration testing report to identify gravel, sand and materials deposits was recently completed on this property by American Engineering and Testing, Inc. and is available for inspection, with the engineer indicating that there may be in excess of 1 million tons of material in this site. Subsequent to the completion of any future excavations and the reclamation of this site, this property may have some potential for establishment and development of a rural housing site and/or recreational property.  Being sold in Conjunction with Parcel #1 are Parcels 1A & 1B (Klondike Lots) which together contain a total of 1.77 Acres, hence Parcel #1, #1A & #1B will be offered on a per acre basis including a total of 36.72 Acres and will be sold as an individual tract and will not be combined at any time with Parcels 2 thru 5.  **NOTE – The excavated area on Parcel #1 including the stockpiled material are subject to a 2 year removal period which ends on Aug. 1, 2023, with the stockpiled material to remain the property of the lessee of the gravel operation and the present owners.  Reclamation and clean-up of the excavated portion is subject to the operating permit and the lease with the owners.  A new owner may take possession and operate or excavate remaining portions, with the new owner to be responsible for their own mining permits or other requirements in accordance with Iowa law.** 

PARCEL #2: +/-121.29 Acres – Lying east of the acreage site at 1365 180^th St.; or from Klondike, IA – Approx. ½ mile east.  General Legal Desc.: A Parcel Containing +/-121.29 Surveyed Acres – Part of the N½ NE¼, SE¼ NE¼ & Part of the NE ¼ SE ¼, all in Sec. 21, T. 99N., R. 48W., Lyon County, Iowa. 

This Parcel of Land runs from 180^th St that borders the north end of the property and extends south by slightly less than three-fourths of a mile and consists of a mixture of cropland, pasture with numerous trees that provide excellent summer shade and winter protection for livestock and heavily wooded acres that provided superb hunting and recreational habitat.  From an inspection of the aerial maps as provided by Surety Agri Data, it appears this parcel has approx. 27.97 acres of cropland, with the remainder in grassland/pasture & trees.  Northerly access is provided off of 180^th St. and access to the southeast corner of the property has been provided for in the survey off of 190^th St. and along the section line east of the existing acreage located at 1396 190^th St.

PARCEL #3:  +/-4.48 Acre Improved Acreage Site – Located at 1396 190^th St., Inwood, Iowa – To view the residence on the acreage contact the auctioneers for an appointment  – Located from Klondike, IA – Approx. 1¾ miles east on 180^th St. (Hwy. A-26) to Birch Ave., then 1 mile south on Birch Ave. (Hwy. # K-12), then approx. 1 ¼ mile west on 190^th St.  GENERAL LEGAL DESC.: A Parcel Containing +/-4.48 Surveyed Acres situated in the southeast corner of  NE¼ SE¼ of Sec. 21, T. 99N., R. 48W., Lyon County, Iowa.

This acreage is comprised of an existing home and farmstead situated on a surveyed parcel of approx. 4.48 acres located in a scenic and rather private rural setting.  The improvements on this property include a ranch style home consisting of a front entry to an open dining and the kitchen area which has built-in wooden cabinets, a pantry storage closet, a living room, a master bedroom w/dbl. closet, a 2^nd bedroom w/closet, a ¾ bath w/shower, a laundry/mudroom w/hand sink and coat closet and a side walk door to an attached double garage with 2 overhead doors and front and rear walk doors; the home has a full basement with a reinforced concrete block foundation and includes a Lennox Elec. Furnace w/Central AC, an elec. 40 gal HW heater, 200 amp breaker elec. service and a walk door to an exterior entrance with no staircase in  place which provides for easy access in moving items in and out of the lower level; the exterior of the home has textured siding and asphalt shingles, with the garage portion re-shingled in 2021 – The Home is somewhat of a Fixer-Upper, that is in need of some cosmetic updating & repair.  Water to the home and farmstead is provided by a well.  Outbuildings on the property include a shop/machine shed w/dirt floor & colored steel exterior, a horse barn/cattleshed w/partial box stalls, 1 sliding door and 3 walk doors w/a colored steel exterior, a galv. steel clad livestock/storage bldg.., older open front cattle shed, open front hay/livestock bldg., a small GSI steel grain bin and a small calf shelter type bldg. that is utilized for storage.  This acreage is situated in a pleasant rural setting, well suited of individuals with a few head of horses or other livestock or for utilization as a hunting headquarters if purchased in conjunction with some of the adjacent parcels of land.

PARCEL #4 – +/-79.04 Acres – Located at an access point directly south of Parcel 3 (The Acreage Site Located at 1396 190^th St.) – then commencing west approx. 227.52’ on an access that is approx. 58.26’ wide to Parcel #4 – which lies directly south and southwest of PARCELS #2 & #3 and north and northwest of PARCEL #5. GENERAL LEGAL DESC.: A Parcel Containing +/-79.04 Surveyed Acres situated in the SW ¼ SE ¼ SE ¼ SE ¼ and a portion of the S ½ NE ¼ SE ¼  southeast corner of  NE ¼ SE ¼ of Sec. 21, T. 99N., R. 48W., Lyon County, Iowa.

Parcel #4 is a parcel of land with a relatively high percentage tillable, as from an inspection of the FSA aerial maps and the 156EZ, it appears this parcel has approx. 71 acres of cropland, with the remainder in grassland/pasture, waterway & trees.  

PARCEL #5 – +/-212.06 Acres  – Located South of the Acreage Site at 1396 190^th St.) including an area approx. 227.52’x1,215’ mostly in the E½ E½ SE¼ SE¼ of Sec. 21, T. 99N., R. 48W. and the NE¼ of Sec. 28. T. 99N. R. 48W., and Portions of adjacent Gov’t. Lots in the NW¼ of Sec. 28. T. 99N. R. 48W., Lyon County, Iowa

Parcel #5 is primarily a parcel of pastureland with wooded areas and valleys that provide shade and shelter for cattle and areas that provide abundant habitat for deer, turkeys and other wildlife.  This portion of the property also includes remnants of a settlers shack according to the family which is located in the southeasterly sector of this parcel.  The Gov’t. Lots are protrusions in the NW ¼ with some portions lying near the Big Sioux River.

FSA INFORMATION:  According to the FSA 156 Farm Record Report the portion included in Surveyed Parcels #1 & #2 include FSA fields #1 -+/-18.56 Acres of cropland within Parcel #1 – the Gravel Pit Parcel; Parcel # 2 includes FSA fields #3 – +/-13.79 acres of cropland & field #4 – +/-14.61 acres of cropland – for a combined total of +/-28.40 acres of cropland, with the remainder in pasture, trees, etc. – Presently FSA indicates the property included in the surveyed area of Parcels #1, #2 & #3 has 20.30 acre Corn Base with a 125 bu. yield and a 22.80 acre soybean base with a 37 bu. yield; The area inclusive of surveyed parcels #4 & #5 includes FSA fields #1 – +/-59.34 acres of cropland, field #2 – +/-8.11 acres of cropland & field #3 – +/-11.66 acres of cropland for a combined total of +/-79.11 acres of cropland – this portion has NO FSA established bases or yields.  

TERMS:  Cash – A 10% non-refundable down payment on the day of the sale and the balance on or before Dec.1, 2021, with possession on of the cropland and pasture on Parcels #2, #3, #4 & #5 for the 2022 crop and grazing season & possession of the building and acreage in Parcel #3; The excavated area on Parcel #1 including the stockpiled material are subject to a 6 month removal period which ends on Feb. 1, 2022, with the stockpiled material to remain the property of the lessee of the gravel operation and the present owners.  Reclamation and clean-up of the excavated portion is subject to the operating permit and the lease with the owners – which provides for 2 years to complete the reclamation on or before Aug. 1, 2023.  A new owner may take possession and operate or excavate remaining portions, with the new owner to be responsible for their own mining permits or other requirements in accordance with Iowa law.**  Marketable Title will be conveyed and abstracts of title will be prepared and continued at the expense of the sellers and provided to the buyer for examination prior to closing.  Attorney/Closing Agents Fees to be paid by the sellers.  RE taxes payable for the installment payable in Sept. 2021 and the first installment payable in March of 2022 will be paid by the sellers.  The acres in this property are to be based on the acres as determined by a survey to be completed by Midwest Land Surveying, Inc., with the acres understood to be “more or less”, with the survey cost paid by the owners.  The sellers do not warrant or guarantee that existing fences lie on the true & correct boundary.  Any new fencing or future maintenance of fences is the responsibility of the buyer in accordance with Iowa law.   Any septic inspections and replacement will be the responsibility of the purchaser.  This property is sold in “AS IS” condition and the merchantability or suitability of this property for any particular purpose is not guaranteed.  The Auctioneers/RE Licensees in this transaction stipulate that they are acting as agents for the seller.  This property is sold subject to existing easements, restrictions, reservations or highways of record, if any, as well as any or all applicable Lyon County, Iowa Zoning Ordinances and/or Regulations. The closing agent for this transaction will be the Lynn, Jackson, Shultz, LeBrun , PC Law Firm with the closing fees paid by the sellers.  Sold subject to confirmation of the Owners.

This property has the potential to fulfill the wish list of a variety of buyers – whether it be row crop/crop-livestock operators, hunters & wildlife enthusiast, gravel and aggregate material operators, acreage prospects, investors and others in the market for a multi-faceted scenic parcel(s) of northwest Iowa land.  Please mark your calendars and make plans to attend this auction, or of you are unable to attend and need to make arrangements to bid by phone, then contact the auctioneers prior to the day of sale to make arrangements.  

WANDA M. OLSON REVOCABLE LIVING TRUST – Peggy Rang and Leslie Olson – Co-Trustees – Lynn, Jackson, Schultz & LeBrun- Attorneys – Closing Agent 

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

JARED SUTTON – Auctioneer – Flandreau, SD – ph. 605-864-8527

TOM & TED SOUVIGNIER – Auctioneers – Canton, SD – ph. 605-987-2404