RESCHEDULED . . . Painter – +/-74.8 Acres of Franklin Twp. Lake Co., SD Land with a High Percentage Tillable
January 10 @ 10:00 am
RESCHEDULED TO TUES. JAN 10TH – 10:00 AM LAND AUCTION
+/-74.8 Acres of Franklin Twp. Lake Co., SD Land with a High Percentage Tillable – This land will be Sold Subject to a Cash Lease for the 2023 Crop Year
We will offer the following real property at auction “On Site” at the land located from Madison, SD – (Prostrollo Corner) – approx. 1½ miles east on Hwy. 34 to the Jct. of Hwy. #19, approx. 4½ miles south on Hwy. #19, 1 mile east on 239th St. and ¼ mile north 458th Ave. to the SW Corner of the land; or from the Franklin Corner on Hwy. #19 – 2 miles north on Hwy. #19, 1 mile east on 239th St. and ¼ mile north 458th Ave.
** RESCHEDULED TO TUES. JAN. 10, 2023 ** WEDNESDAY JANUARY 4, 2023 SALE TIME: 10:00 AM
This +/-74.8 acre farm will be offered as a unit (note the acreage site in the NW Corner is not included in the parcel being sold). This auction awards the opportunity to purchase a very nice +/-74.8 acre parcel of land with an extremely high percentage tillable that is situated in a prominent agricultural area lying between Madison and Chester, SD in Lake County, SD. FSA information on this parcel of land being sold is slightly overstated as it includes approx. 3 acres that is within the acreage site owned by a family member, thus the cropland and base acres will be subject to a minor adjustment, although presently this property as a whole was indicated to contain a total of 79.92 acres of farmland with approx. 78.01 acres of cropland with a 37.16 acre corn base with a 102 bu. PLC yield and a 37.14 acre soybean base with a 34 bu. PLC yield and has been enrolled under the ARC County Election of the USDA Farm Program, although the FSA information will be subject to an FSA reconstitution. The general topography of this land is level to gently rolling. According to the Lake Co. Assessor as a 78.99 acre parcel prior to a recent survey of the excluded acreage site, this land had an Overall Soil Rating of .698; comparatively Surety Agri-Data info. indicates this land as a whole and prior to the acreage survey had a soil rating of 71.4. This land is sold subject to seller enhanced cash rent for 2023, with the new buyer to receive a seller’s enhanced rental amount of $250.00 per acre on 74.8 acres for a total of $18,700.00, which will be credited to the buyer at closing, with the lease expiring on Feb. 28, 2024. The 2021 RE taxes payable in 2022 on this land were $1,598.86. This is a parcel of land that is well suited to serve as a nice addition to an area row crop farming operation or investment.
Legal Desc.: The N½ SW¼, Exc. Lot 1 of One Son’s Addition, in Sec. 2, T. 105N., R. 52W., (Franklin Twp.), Lake Co., SD, Containing 74.8 Acres M/L.
TERMS: Cash – A 10% non-refundable earnest money payment sale day and the balance on or before Feb.22, 2023 with landlord’s possession subject to the existing farm lease for the 2023 crop year which expires on Feb 28, 2024. Marketable title will be conveyed with an owner’s title insurance policy provided with the cost divided 50-50 between the buyer and seller. The Ericsson Law Office will be the closing agent for this transaction with the closing fees to be paid by the sellers. All of the 2022 RE taxes payable in 2023 will be paid by the sellers, with the buyer to be responsible for all of the 2023 RE taxes payable in 2024. The total acres in this property are calculated based on the stated acres on the County Tax Records – calculated as 80 acres less the 5.2 surveyed acres in the acreage site leaving a remainder of 74.8 acres in the parcel being sold, with the acres 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, with the exception that fencing around the acreage, if desired, will be the responsibility of the acreage owner. FSA cropland, yields, bases & other information is estimated and not guaranteed and will be subject to an FSA Reconstitution 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 Lake County Zoning Ordinances. The RE licensees in this transaction are acting as agents for the agent for the owners. Sold subject to confirmation of the owner. To make arrangements for absentee bidding or other information contact the auctioneers.
SYLVIA S. PAINTER TRUST, Owner – Richard L. Ericsson – Ericsson Law Office, Prof. LLC– Attorney & Closing Agent for the Seller
CHUCK SUTTON – Auctioneer & Land Broker – Sioux Falls, SD – ph. 605-336-6315 & Flandreau, SD – ph. 605-997-3777; WAYNE BESSMAN – RE Auctioneer – Madison, SD – ph. 605-270-4980; JARED SUTTON, CAI – Auctioneer & RE Broker Associate – Flandreau, SD – ph. 605-864-8527