Luscombe Enterprises, Inc. Land Auction

SOLD ! !

Tract #1 - $8,700 x 70.23 Acres = $611,001

Tract #2 - $8,700 x 68.28 Acres = $594,036

Tract #4 - Lump Sum = $550,000

Tract #5 - Lump Sum = $715,000

Tract #6 - Lump Sum = $152,500

Total = $2,622,537

THORNTON, IOWA

The land & homes are generally located 4 1/2 miles north of Thornton on County Highway S25, then 5 miles west on County Highway B55 to County Highway S14/Balsam Ave.  Watch for auction signs.

Auction to be held at the Best Western Holiday Lodge, 2023 7^th Ave. N, Clear Lake, IA 50428

Shown by appointment only.

Public Open House on Friday, November 15th from 9AM-3PM

160.51 Acres M/L – SELLS IN 5 TRACTS

Day of Auction Contract & Survey Now Uploaded Below

“Selling Choice with the Privilege”

Tracts #1-2 will be sold price per acre.  Tracts #4, 5, 6 will be sold lump sum price.  Tracts #1-2 will be sold Choice with the Privilege, whereas the high bidder may choose Tract #1, or Tract #2 , or any combination of tracts times their high bid.  Once this is completed, Tracts #4, 5, & 6 will be sold.  Tracts will not be recombined. 

< Click here > to View Day 2 Machinery Auction

Tract #1 – 70.23 Surveyed Acres M/L
Approx. 66 acres tillable.
Corn Suitability Rating 2 of 82.2 on the tillable.
Located in Section 31, Union Township, Cerro Gordo County, Iowa.

Real Estate Taxes on Tract #1
Gross  $1,865.19
Ag. Credit      ($62.16)
Net      $1,803.00 (Approx.)

Tract #2 – Two Hoop Buildings on 68.28 Surveyed Acres M/L
With approximately 64 acres tillable, this tract of land offers a 72’x252’ cattle hoop building built in 2015 with 4 pens, concrete floor, concrete fence line bunks, feed alleyway, a 40’x224’ hoop storage building and a separate 40’x48’ commodity hoop building with concrete floor.  Corn Suitability Rating 2 of 83.9 on the tillable.  Located in Section 31, Union Township, Cerro Gordo County, Iowa.

Included: Fence line bunks
Not included: Hay bales

Real Estate Taxes on Tract #2
Gross  $2,466.80
Ag. Credit      ($69.84)
Family Farm Credit  ($48.78)
Net      $2,347.00 (Approx.)

Tract #3 – 31 Acres M/L - This Tract will Not Be On The Auction

Tract #4 – 80’ x 170’ Nursery on 10 Surveyed Acres M/L
This tract offers an 80’x170’ nursery built in 2017 with a 20’x26’ addition with two stationary dock heights.   This tract has approx. 7 acres tillable with a Corn Suitability Rating 2 of 79.9 on the tillable.  Located in Section 31, Union Township, Cerro Gordo County, Iowa.

Included: 50KW generator, 4 bulk bins
Not included:(2) 1,000 gal. LP tanks

Real Estate Taxes on Tract #4
Gross  $2,058.08
Ag. Credit      ($9.30)
Net      $2,049.00 (Approx.)

Tract #5 – 3,600 Head Hog Facility & Home on 10 Surveyed Acres M/L
Property Address:  7442 Balsam Avenue, Thornton, Iowa

3,600 head hog facility includes: 40’x296’ finishing building (updated in 2017), with enclosed loadout & 3 bulk bins, 60’x260’ finishing building with enclosed loadout & 3 bulk bins, and a 40’x60’ former gilt building converted to finishing in 2017 and a bulk bin.  This site has a 12,000 gal. LP tank and a 150KW generator.  Other buildings include: 60’x100’ machine shed & 40’x70’ shop.

The five bedroom, three bath home has 3,895 sq.ft. of living space on the main level.  The main level offers a family room with fireplace, rec room, formal dining room, master suite with master bath & hot tub and a laundry room.  Other amenities of the home include 20’x24’ 3 seasons sunroom, above ground pool, a 24’x36’ 3 car attached garage, partial basement with two high efficient furnaces with central air.  The property is serviced by two wells.

Included: 12,000 gal. LP tank, 150KW generator, All bulk bins.
Not included:Fuel barrels, Hay bales, Air compressor, Appliances, All personal property.

Real Estate Taxes on Tract #5
Gross/Net      $1,175.00 – (Approx.)

Tract # 6 - 137,000 bu. Grain Bin & Feed Mill on 2 Surveyed Acres M/L
137,000 bu. grain bin setup includes: 75,000 bu. grain bin, (2) 31,000 bu. grain bins with a 120’ grain leg, 6,000bu/hr conveyor, MC820 grain dryer and a 70T scale.  Bulk bins include a 4,500 bu., 3,000 bu., 30 ton & (3) 25 ton.

The 42’x72’ feed mill has a drive thru alley with dump pit, office and feed mill room with a Agtronix Feed Pro FP900A80 feed blender, Roller Grinder System, 2 unit Agtronix Feed Pro FP901A40, Agtronix Feed Pro LX800 12 hopper micro mixing system, connected to a 4 head truck dump over the feed truck parking stall.

Included: Feed mill equipment.
Not included: (2) 1,000 gal. LP tanks

Real Estate Taxes on Tract #6
Gross/Net      $570.00 – (Approx.)

Tract #7 – Home & Outbuildings on 6.5 Acres M/L  - This Tract will Not Be On The Auction

TERMS ON ALL TRACTS
Terms:10% down payment on December 3, 2019.  Balance due at closing with a projected date of January 28, 2020, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of January 28, 2020. 
Real Estate Taxes:  To be prorated to date of possession on the basis of the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years.

Special Provisions:

• Termination on the tillable ground has been served by the seller to the tenant.  Land is selling free and clear for the 2020 farming season.

• It shall be the obligation of the buyer(s) to report to the Cerro Gordo County FSA office and show filed deed(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. C.  Final tillable acres will be determined by the Cerro Gordo County FSA office, as some fields are combined and/or overlap Tract lines. 

• The land will be surveyed by a licensed surveyor and surveyed acres will be the multiplier for Tracts #1, 2 & 3.  Tracts #4, 5, 6 & 7 will be sold lump sum price.  If the recorded survey is different than the announced surveyed acres, adjustments to the final contract price will be made accordingly at closing on only the Tracts where the surveyed acres were used for the multiplier. 
• Tracts #5 & 7, it shall be the buyer’s responsibility and expense to acquire the DNR Time of Transfer certificate for the septic systems.  This shall include, but not limited to, the expense to inspect, repair and/or update the septic system (if needed) and have said septic system pumped (if needed).  It shall be the buyer’s responsibility to correspond with the Cerro Gordo County Sanitarian and have the proper paperwork completed prior to closing.
• The buyer(s) of Tracts #4, 5, 6 & 7 shall reimburse the Seller for the remaining LP gas in the LP tanks on the day of closing, at the current market rate.
• If Tracts #2, 5 & 6 sell to different buyers, a well agreement will be established for the properties.
• it shall be the expense of the buyer(s) of Tract #2 & Tract #6 to separate off the electric and to install a separate electric meter, if so desired.
• This auction sale is not contingent upon Buyer obtaining financing or any other Buyer contingencies.
• Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.
• The buyer(s) shall be responsible for any fencing in accordance with Iowa state law.
• If one buyer purchases more than one tract, the seller shall only be obligated to furnish one abstract and deed (husband & wife constitute one buyer).
• The buyer(s) shall be responsible for installing his/her own entrances if needed or desired.
• If in the future a site clean-up is required it shall be at the expense of the buyer(s).
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer(s) are buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.
•  

Luscombe Enterprises, Inc. 

For real estate information contact Nate Larson at Steffes Group, 641.423.1947 or 641.530.5528.

Downloads:
FSA Information & Maps
Tract 2 Soil Map
Tract 4 Soil Map
Tract 1 & 4 Survey
Tract 1 Survey
Tract 2, 5 & 6 Survey
Tract 2, 5 & 6 Survey Overlay
Updated Day of Auction Real Estate Contracts