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Ruud – +/-400 Acres in 3 High Producing Rock & Pipestone Co., MN Farms

June 30 @ 10:00 am

LAND AUCTION

ESTATE LAND AUCTION 

+/-400 Acres in 3 High Producing Rock & Pipestone County Minnesota Farms– Including FARM #1 – +/- 80 Acres and FARM #2 – +/- 160 Acres – With Farms #1 & #2 being Situated Across the Road from One Another in Denver Twp. in Rock County, MN and FARM #3 – +/- 160 Acres in Gray Twp. in Pipestone County, MN 

We will offer the following Land at public auction “On Site” – with FARMS #1 & #2 to both be offered simultaneously at Farm #1 and FARM #3 will be offered at a second auction at FARM #3 at the following designated sale times and locations . . .

WEDNESDAY JUNE 30, 2021

FARMS #1 & #2 – +/- 240 Acres of Denver Twp., Rock Co., MN Land –  Sale Time: 10:00 AM   FARM #3 – +/-160 Acres of Gray Twp., Pipestone Co., MN Land –  2:00 PM 

AUCTIONEER’S NOTE: Due to the recent death of Darlene Ruud and in order to dissolve the Trusts of Darlene Opal Ruud, and the Trust of her husband held by the Robert S. Ruud Family Trust, their multiple beneficiaries have made the decision to offer the following parcels of land at public auction.  This auction presents the opportunity to purchase 3 parcels of land including 2 Parcels in Rock County, MN and 1 Parcel in Pipestone County MN, with all of the parcels being inclusive of some Productive High Percentage Tillable Cropland.  If you are in the market for a parcel or parcels of productive Rock and 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 2021 – with the buyer to receive a seller enhanced rent of $225.00 per acre at closing on FARM #1 – $16,088.00 & on FARM #2 – $35,091.00, & on $250/00 per acre on FARM #3 – $38,833.00; in addition the buyer will assume the Wind Tower & Wind Easement Leases on FARMS #1 & #2 and will receive 100% of the payment payable in 2022 and each year thereafter, until the termination of the wind easement.  Thus, these parcels have excellent potential to provide a strong cash flow and return on investment. 

FARMS #1 & #2: SALE TIME 10:00 AM – Both of these farms will be offered “On Site” at the Farms –   From Hardwick, MN – 2 miles north on Hwy. #75 and approx. 2 ½ miles west to the east side of both Farms #1 & #2; from Jasper, MN (Hwy. #23) – approx. 6 ½ miles east on Co. Hwy. #12 and 3 miles south on 100th Ave. to the Jct. of 100th Ave. and 221st St.

FARMS #1 & #2 Will be Offered as Farm #1 – +/-80 Acres; Farm #2 – +/-160 Acres or as Farms #1 & #2 Combined – +/-240 Acres. 

FARM #1 – +/- 80 Acres – LEGAL DESC.:  The N½ NW¼ of Sec. 20, T. 104N., R. 45W., (Denver Twp.), Rock County, MN 

FARM #1 consists of +/-80 Acres of Productive & Relatively High Percentage Tillable Land situated in Denver Twp., of Rock County, MN and is Inclusive of 2 Wind Turbines and with the projected revenues from the existing Wind Easement and the Sellers Enhanced Cash Rental Payment to be paid to the purchaser, which together projects an extremely high revenue stream of approximately $400.00 per acre on this 80 acre parcel!  The non-tillable acres comprised of – a former farmstead with an old wooden granary w/cupola and mature trees that is located in the NW corner of the property, 2 – wind turbine sites & accesses, a small grassed waterway & roads.  This +/-80 acre parcel of land will be offered as an individual parcel or in combination with Farm #2. This farm has very good eye appeal and has a level to gently rolling topography and high quality soils.  According to FSA information this 80 acre farm has approx. 71.56 acres of cropland and currently Farm #1 is being operated in conjunction with Farm #2 as one common operating unit as part of FSA Farm #2066.  This land has some excellent soils as according to the Rock  County Assessor this farm has a CER of 88.88 and information obtained from Surety Agri-Data indicates this land has an extremely high weighted soil rating of 92.2, with the predominate soils comprised of primarily Class I & II soils.  There is an existing wind turbine and wind easement in place on this property with Enel Green Power, which is on a total of 3 towers, with 2 wind turbines in place on Farm #1 and 1 wind turbine in place on Farm #2, which in total generated a 2021 payment of approx. $23,263.00, which when  proportioned and divided by 3 would place approx. $7,754.00 on each tower, hence two-thirds of the payment when attributed to Farm #1 would have been approx. $15,508.00; the new buyer will receive 100% of the projected payment in 2022 and each year thereafter for the remaining initial term of the contract which is scheduled to run through Feb. 15, 2033, furthermore the easement provides for an option to renew for 3 additional 10 year periods.  Thus, with the 2021 cash rental payment from the seller of 71.5 acres @ $225.00 per acre generates approx. $16,088.00, which combined with future wind payments (which in 2021 was $15,508.00), together represents an estimated combined income of  approx. $31,595.00. which when divided by 80 is about $398.00 per acre.  The buyer will be assigned to receive 100% of any wind easement payments payable in 2022 and for the remaining term of the easement.  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 seller, indicates approx. 4,230’ of 5” tile was installed by Springman Tiling Co. in 1995, as well as an additional 1,468’ of 5” tile installed by D&S Excavation in 2000.  The sellers represent that the well on the property has been sealed by Steenstra Water Systems (MN Unique Well #287913).  The RE taxes payable in 2021 on this land are $2,506.00.

FARM #2 – +/-160 Acres – Located directly north of Farm #1 –The Southwest Corner of this land is at the Jct.221st St. & 100th Ave. – LEGAL DESC.:  The SW¼ of Sec. 17, T. 104N., R. 45W., (Denver Twp.), Rock  County, MN.

FARM #2 consists of +/-160 acre parcel of Denver Township, Rock County, MN Land with a very high percentage tillable, with the nontillable acres comprised primarily of a wind turbine site and access, a rock pile and roads. This +/-160 acre parcel of land will be offered as an individual parcel or in combination with Farm #1. This farm has a gently rolling to somewhat hilly topography and some high quality productive soils.  According to FSA information this farm has approx. 160 acre farm has approx. 155.96 acres of cropland

and currently Farm #2 is being operated in conjunction with Farm #1 as one common operating unit as part of Farm 2066.  This land has some excellent soils as according to the Rock County Assessor this farm has a CER of 84.9 and information obtained from Surety Agri-Data indicates this land has a high weighted soil rating of 88, with the predominate soils comprised of primarily Class I & II soils, with only approx. 11 acres of lower quality soils in an area with a high stony knob in an area located in a southwesterly sector of the farm.  There is an existing wind turbine and wind easement in place on this property with Enel Green Power, which is on a total of 3 towers, with 2 wind turbines in place on Farm #1 and 1 wind turbine in place on Farm #2, which in total generated a 2021 payment of approx. $23,263.00, which when  proportioned and divided by 3 would place approx. $7,754.00 on each tower, hence one-third of the payment when attributed to Farm #2 would have been approx. $7,754.00; the new buyer will receive 100% of the projected payment in 2022 and each year thereafter for the remaining initial term of the contract which is scheduled to run through Feb. 15, 2033, furthermore the easement provides for an option to renew for 3 additional 10 year periods.  Thus, with the 2021 cash rental payment from the seller of 155.96 acres @ $225.00 per acre generates approx. $35,091.00, which combined with future wind payments (which in 2021 was $7,754.00),  together represents an estimated combined income of  approx. $42,845.00, which when divided by 160 is about $267.78 per acre.  The buyer will be assigned to receive 100% of any wind easement payments payable in 2022 and for the remaining term of the easement.  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 seller, indicates approx. 2,450’ of 5” tile and 2,105’ of 4” tile was installed by Kooiman Construction in 1989, as well as an additional +/-1,363’ of 5” tile installed by D&S Excavation in 2000 and an additional +/-5,828’ of 5” tile was installed by Evans Farm Drainage in 2006.  The RE taxes payable in 2021 on this land are $4,452.00.

FSA INFORMATION ON FARMS #1 & #2 – According to FSA information Farms #1 & #2 are presently combined into one operating unit, designated as Tr. 7479 of Farm #2066.  The FSA 156EZ on this property indicates that together these farms has approx. 234.11 acres of Farmland with approx. 229.86 acres of cropland with a 113.8 acre corn base with a 148 bu. PLC yield and a 113.8 acre soybean base with a 44 bu. PLC yield and is enrolled under the ARC County Election of the USDA farm program for Corn & Soybeans.

FARM #3:  2:00 PM – +/-160 Acres of Productive Gray Township, Pipestone County, MN Land –  LEGAL DESC.: The NE¼ of Sec. 31, T. 106N, R. 45 (Gray Twp.), Pipestone County, MN -Located from Pipestone, MN (Jct. Hwy. #34 & Hwy. #75 North – “McDonald’s Corner”) – 3 miles south on Co. Hwy. #56 (80th Ave.) and ½ mile east on 71st St.; from Ihlen, MN – 3 miles east on 41st St., 3 miles north on 80th Ave. & ½ mile east on 71st St.; from Hatfield, MN – 4 miles west on 81st St. and 1 mile south on 90th Ave.

FARM #3 consists of +/-160 acres of Eden Township, Pipestone County, MN Land.  This +/-160 acre parcel of land will be offered as an individual unit.  This farm has good eye appeal and has a level to gently rolling topography and productive soils.  According to FSA information this farm has approx. 155.33 acres of cropland with a 77.6 acre corn base with a 144 bu. PLC yield and a 77.6 acre soybean base with a 41 bu. PLC yield and is enrolled under the ARC County Election of the USDA farm program for corn & soybeans.  In 2022 the reported cropland acres will be adjusted to 146.8 acres of cropland due to the new installation of waterways and buffer strips. The non-tillable portions of this farm are comprised of waterway & roads.  This land has some very high quality soils as according to the Pipestone County Assessor this parcel has a CER of 73; also information obtained from Surety Agri-Data indicates this land has a very high weighted soil rating of 94. The buyer will receive at closing a sellers enhanced cash rental payment for 2021 of $250.00 per acre on 155.33 acres which equates to a total payment of $38,833.00.  This property has a superb location near the Cargill Grain Terminal and other area grain markets.  The RE taxes payable in 2021 on this land are $5.952.00.

TERMS: Cash – A 10% nonrefundable earnest money payment on the day of the sale and the balance on or before August 20, 2021, with landlord’s possession, with full possession subsequent to the harvest of the 2021 standing crops and the rights of the existing tenants subject to the terms of their existing farm leases which expire on March 1, 2022.   Marketable Title will be conveyed and abstracts of title continued to date will be provided to the buyer for examination prior to closing.   Farms #1 & #2 are sold subject to a previously executed wind turbine & wind rights agreement/easement, to which the buyer will be obligated to assume and comply with all remaining terms and provisions, the sellers retaining the payment made in 2021 along with any previous payments and the buyer(s) to receive the payments in 2022 and in the future in accordance with the term of the agreement.  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.  These properties are sold based on the acres as stated on the County Tax Records, 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 Trustee.

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 percentages tillable and furthermore Farms #1 & #2 have added income potential generated from the wind energy easements.  For additional information contact the auctioneers.  

ROBERT S. RUUD FAMILY TRUST and the DARLENE OPAL RUUD REVOCABLE TRUST – Stanley Bruce Ruud, Trustee

Jeff Haubrich – Klosterbuer & Haubrich, LLP – Attorney & Closing Agent for the Sellers 

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

Auction Details

Date:
June 30
Time:
10:00 am
Auction Categories:
, ,
Brochure
View PDF

Auctioneers

Chuck Sutton
Dean Stoltenberg
Jared Sutton

Location

See Auction for Locations

Auction Details

Date:
June 30
Time:
10:00 am
Auction Categories:
, ,
Brochure
View PDF

Location

See Auction for Locations

Auctioneers

Chuck Sutton
Dean Stoltenberg
Jared Sutton

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