Riceville, IA
Located 2 miles south of Riceville to 12456 Addison Avenue.

Bidding Opens: Tuesday, August 1^st    
Bidding Closes: Tuesday, August 8, 2023 at 10AM

Preview Date: Tuesday, July 25^th from 10-11AM

Auctioneer’s Note: Northern Iowa Grain Processors, LLC has been providing their customers with the highest quality Non-GMO and Organic soybean meal and oil, since 1996. Through the years they have updated & expanded, allowing their crushing capacity to be capable of 206 tons per day. Unfortunately, their last week of production was June 5, 2023. Steffes Group has been commissioned to offer this plant in its entirety, including the real estate, buildings, and processing equipment. Bid your price on this vital ag-related soybean business with a focus on the Organic and Non-GMO segment! Owner Joel Yorgey is willing to answer questions pertaining to the production process and business. Joel’s cell: 641-985-4255.

Complete Soybean Processing Plant on 11 Acres M/L

Buildings:

• The processing plant has a combined 8,400 sq.ft. of enclosed building space for production, liquid storage, offices, conference room, lab room, break room & restrooms.
• (2) storage containers with adjoining roof.
• The separate front building has a 32’x32’ office area with break room, bathroom and an attached 40’x72’ shop with (2) 12’x14’ OH doors. Under floor hot water heat in the office & shop area. 

Grain Receiving/Handling:

• 110,000 lb. cap. pitless truck scale.
• Remote controlled probe w/video in scale room.
• Chain drag under dump to 3,000 bu./hr. leg.
• Raw soybean storage total of 44,000 bu:

                    (2) GSI 60° cone bottom bins, 12,500 bu. each (new in 2017).
                    (4) GSI cone bottom bins, 2,000 bu. each.
                    (2) cone bottom bins, 5,000 bu. each.
                    (1) square cone bottom bin, 1,000 bu.

Meal Process:

• Bench Industries grain cleaner with 400 bu./hr. capacity.
• Triple pass soybean conditioner w/500,000 btu burner.
• 18,000 gal. LP tank w/vaporizers.
• All legs and conveyors after conditioner are stainless steel for durability and longevity.
• Soybeans are processed through (4) parallel extruders leading to (4) parallel expellers to separate bean oil from the meal.
• (2) roller mills and a hammer mill further process the meal.
• Meal storage total of 530 tons:

                    (2) elevated Meridian cone bottom bins, 125 tons each, and elevated Lowry cone bottom bins.

Oil Process:

• After oil is separated from the meal, it is stored in (8) tanks, each with identity preserved tagging.
• Total of 62,000 gal. storage.

Control Room houses scale indicator, sample storage, computerized BinMaster SmartBob level indicators. A 3,000 gal. poly tank is elevated within the plant and kept full of water for fire suppression.  The plant has a Alliant Energy 2200 amp 480v electric service, a well and septic system. OmniTel high speed internet available.

Included: 18,000 gal. LP tank, All tools, Small support & lab equipment, Quantity of scrap steel & flighting, Air compressor & Pallet racking in 40’x72’ shop, All items present on the day of final settlement/closing.
Not included: Tractor, Skid loader, Forklifts, Vehicles & Equipment as listed on separate auction, Dump trailers are owned by another individual.

Terms: 10% down payment on August 8, 2023. Balance due at final settlement with a projected date of October 16, 2023, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of October 16, 2023.
Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement. The seller shall pay any unpaid real estate taxes payable in prior years.

2022/2023 Real Estate Taxes - Tax Parcel: 200061523020000 = $ 8,344.00 Net

Special Provisions:

• The real estate auction will have a 5% buyer’s premium. This means a buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.
• If a bid is placed with less than 4 minutes left, the time on the auction will extend another 4 minutes. This will continue until no bids are placed within the last 4 minutes.
• Down payment is due on the day the bidding closes and signing of the contracts will take place through email and electronic document signatures. In the event the auction bidding closes after 3:00pm, the earnest money will be due the following business day.
• The Buyer shall bear the responsibility and expense to have the septic system(s) pumped & inspected, prior to closing, as required by the Iowa DNR. It shall also be the Buyer’s responsibility and expense, if needed, to upgrade, repair, or any other matters to the septic system(s) in accordance with County & Iowa Laws & regulations. Prior to closing, the Buyer shall acquire the proper paperwork required by the County Sanitarian for the septic system(s).
• The Buyer shall reimburse the Seller for the remaining gas in the LP tank, based on the current market rate on the day of closing/possession.
• The Seller shall not be obligated to furnish a survey.
• This real estate auction is selling subject to court approval.
• This auction sale is not contingent upon the Buyer’s financing or any other Buyer contingencies.
• If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited.
• The Buyer shall be responsible for any fencing in accordance with state law.
• If in the future a site clean-up is required, it shall be at the expense of the Buyer.
• All mineral rights, if any, held by Seller will be transferred to Buyer upon closing.
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• All lines, drawings, boundaries, dimensions, and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Broker or Auctioneer, their Employees or Agents.
• The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is 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 on the day of sale take precedence over advertising.

Seller:
Northern Iowa Grain Processors, LLC
Joel A. & Linda M. Yorgey – Joel’s cell: 641.985.4255
Joseph Peiffer of Ag & Business Legal Strategies – Closing Attorney

View the "rolling stock" equipment auction from this plant here